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Marvel recently released their latest superhero installment, Black Panther, and it didn’t disappoint. From history and culture to action and prosperity, it contains all the essentials that a record breaking opening weekend movie should have.
As an influencer in the financial space, it’s easy to take note of the money principles depicted throughout the film. Therefore, it’s only right to share 4 Money Tips from Marvel’s Black Panther.
Keep Your Money Matters Private
Based on mass media reporting, Wakanda is an impoverished nation with no resources in sight. But once T’Challa says, “This never gets old,” a new and uplifting story is revealed. One filled with prosperity. The key takeaway here isn’t that he and his people appear to be “rolling in the dough,” but rather that are managing their money and investing it appropriately without all the glitz and glam.
If you’ve read The Millionaire Next Door, then this concept of living modestly within your means while building a fruitful future and legacy isn’t new. It goes into detail on how someone that could be your neighbor is sitting on a mound a wealth but you would never know based on how they live and portray himself or herself in the public eye.
Some key things you can do to keep your money matters private are don’t share everything you do on social media as that could warrant unwanted attention as well as apply security measures to your financial data such as monthly or quarterly account password changes and adding authentication requirements.
Don’t Stop Reinvesting
Albert Einstein once said...
Source: The Spectrum IFA Group
The true beauty of compound interest is that it possesses an element of reinvesting that’s a secret weapon in one’s wealth building strategy.
Wakanda presents numerous technological advances that were a direct result of reinvesting. Princess Shuri, T’Challa’s sister, consistently reinvests in Black Panther’s suit to make it and him stronger, especially during tough times of battle. She diversified the nation’s primary asset, vibranium, across various channels to stimulate growth in areas of medicine, agriculture, and infrastructure.
There are many apps available to help us reinvest and diversify our money without breaking our current budgets. One app specifically, Acorns, helps reinvest spare change so contributions can be made easier and more consistently not to mention the compound interest that will accrue in the future from those contributions.
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Consult a Financial Professional When You Can
In order for T’Challa to become King, he must first consult his ancestors, namely his father who is now deceased. In order for him to lead and make the right decisions for his and Wakanda’s future, he must gain knowledge from those who have come before him and possess expertise.
We may not be ruling nations but we are running our own lives and families.
Before jumping all-in into the stock market or any investment for that matter, be sure to educate yourself on what's available to you and if you can, consult a financial professional. Click the links below to get some sound advice from fellow Dallas resident and Stone Hill Wealth Management advisor, Phillip Washington.
Use Your Money for Good
As the movie comes to an end, King T’Challa addresses the United Nations with some profound news. Prior to this, Wakanda’s extensive resources have been hidden from the world, but T’Challa has come to realize that, “Fools build barriers. The wise build bridges.”
He knows that his nation can no longer keep the barrier up between them and the world that truly needs them. The Wakandans are ready to bridge the gap and help mankind globally. Simply put, they’ve been using their resources for good but only for for themselves and it’s time to for everyone else to reap the benefits as well.
Giving is nothing new to super wealthy individuals and social impact is becoming more important than ever, especially when it comes to millennials seeking employment. Even high profile artists like Chance the Rapper, Nicki Minaj, and Dr. Dre are joining the likes of Drake who recently channeled his inner Wakanda by giving away $1,000,000 to complete strangers.
As you continue to reinvest your money and create a legacy for those to come after you, be sure to also consider ways to put your money towards areas of social change. This can be done by giving to a local church or donating to a cause that you’re passionate about.
Investor Takeaway: Black Panther inspired us to be strong and resourceful people, let's make sure we carry those traits over to our finances.
Disclosure: This editorial is by no means a solicitation to buy or sell any of the above-mentioned securities. It is merely a means for educational purposes. All investors are subject to their own research and due diligence.