Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Dr. George C. Fraser.

Chairman & CEO of FraserNet, Inc.

Purpose of the Interview

The interview aimed to:
Promote financial literacy, wealth-building strategies, and entrepreneurial thinking within the Black community.
Share actionable steps for creating generational wealth and economic empowerment.
Highlight FraserNet’s mission to foster networking, education, and business development for people of African descent.

Key Takeaways


Knowledge & Execution Are Critical
“My people perish for lack of knowledge”—Dr. Fraser emphasizes that progress requires knowledge and execution, not just protest.
Rejecting knowledge leads to stagnation; skill-building and financial education are essential.


Entrepreneurial Thinking vs. Entrepreneurship
Focus on taking ownership and responsibility for your life.
Entrepreneurial thinking can evolve into entrepreneurship, creating jobs and wealth for the community.


Black Economic Empowerment
By the end of the 21st century, Black people must become the #1 employer of Black people, mirroring other ethnic groups.
This requires sacrifice, planning, and multiple income streams.


Practical Wealth-Building Steps
Open a high-interest savings account and start with $100.
Buy stocks in companies you use (Nike, McDonald’s, Home Depot).
Open or maximize 401(k), IRA, or Roth IRA contributions.
Improve credit score by 20 points every six months until above 700.
Pay $50 above minimum payments on credit cards and loans to reduce payoff time.
Research term vs. whole life insurance—insurance is key for wealth transfer.
Start a 529 college plan or Roth IRA for children.
Gift U.S. Treasury bonds or indexed universal life policies for grandchildren.


Generational Wealth & Insurance
60% of wealth transfer occurs through proper insurance planning.
Example: Indexed universal life policies can yield millions tax-free for future generations.


Seven Streams of Income
Earned income (jobs), Profit income (buying/selling), Interest income, Dividend income, Rental income, Capital gains, Royalty income.
Goal: Add a new income stream every year.


Mindset Shift
“The rich stay rich by pretending to be poor; the poor stay poor by pretending to be rich.”
Focus on winning, not looking like you’re winning.


Giving Wealth
Support Black-owned businesses, restaurants, salons, authors.
Volunteer, tithe, and donate to HBCUs.
Encourage and uplift Black men, women, and children.

Notable Quotes
“We are suffering because we cannot see our problems clearly.”
“Execution, execution, execution—protest without execution is meaningless.”
“To be gifted, Black, and beautiful means nothing unless you are Black and powerful.”
“Don’t quit your job until your side income covers twice your monthly expenses.”
“White folks plan for three generations; we plan for Saturday night.”
“Money attracts money—start with $100 in a savings account.”
“There should not be a Negro in America with a single stream of income.”

#SHMS #STRAW #BEST

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Dr. George C. Fraser.
Chairman &amp; CEO of FraserNet, Inc.
<hr>
Purpose of the Interview
The interview aimed to:
<ul>
<li>Promote financial literacy, wealth-building strategies, and entrepreneurial thinking within the Black community.</li>
<li>Share actionable steps for creating generational wealth and economic empowerment.</li>
<li>Highlight FraserNet&rsquo;s mission to foster networking, education, and business development for people of African descent.</li>
</ul>
<hr>
Key Takeaways
<ol>
<li>
Knowledge &amp; Execution Are Critical
<ul>
<li>&ldquo;My people perish for lack of knowledge&rdquo;&mdash;Dr. Fraser emphasizes that progress requires knowledge and execution, not just protest.</li>
<li>Rejecting knowledge leads to stagnation; skill-building and financial education are essential.</li>
</ul>
</li>
<li>
Entrepreneurial Thinking vs. Entrepreneurship
<ul>
<li>Focus on taking ownership and responsibility for your life.</li>
<li>Entrepreneurial thinking can evolve into entrepreneurship, creating jobs and wealth for the community.</li>
</ul>
</li>
<li>
Black Economic Empowerment
<ul>
<li>By the end of the 21st century, Black people must become the #1 employer of Black people, mirroring other ethnic groups.</li>
<li>This requires sacrifice, planning, and multiple income streams.</li>
</ul>
</li>
<li>
Practical Wealth-Building Steps
<ul>
<li>Open a high-interest savings account and start with $100.</li>
<li>Buy stocks in companies you use (Nike, McDonald&rsquo;s, Home Depot).</li>
<li>Open or maximize 401(k), IRA, or Roth IRA contributions.</li>
<li>Improve credit score by 20 points every six months until above 700.</li>
<li>Pay $50 above minimum payments on credit cards and loans to reduce payoff time.</li>
<li>Research term vs. whole life insurance&mdash;insurance is key for wealth transfer.</li>
<li>Start a 529 college plan or Roth IRA for children.</li>
<li>Gift U.S. Treasury bonds or indexed universal life policies for grandchildren.</li>
</ul>
</li>
<li>
Generational Wealth &amp; Insurance
<ul>
<li>60% of wealth transfer occurs through proper insurance planning.</li>
<li>Example: Indexed universal life policies can yield millions tax-free for future generations.</li>
</ul>
</li>
<li>
Seven Streams of Income
<ul>
<li>Earned income (jobs), Profit income (buying/selling), Interest income, Dividend income, Rental income, Capital gains, Royalty income.</li>
<li>Goal: Add a new income stream every year.</li>
</ul>
</li>
<li>
Mindset Shift
<ul>
<li>&ldquo;The rich stay rich by pretending to be poor; the poor stay poor by pretending to be rich.&rdquo;</li>
<li>Focus on winning, not looking like you&rsquo;re winning.</li>
</ul>
</li>
<li>
Giving Wealth
<ul>
<li>Support Black-owned businesses, restaurants, salons, authors.</li>
<li>Volunteer, tithe, and donate to HBCUs.</li>
<li>Encourage and uplift Black men, women, and children.</li>
</ul>
</li>
</ol>
<hr>
Notable Quotes
<ul>
<li>&ldquo;We are suffering because we cannot see our problems clearly.&rdquo;</li>
<li>&ldquo;Execution, execution, execution&mdash;protest without execution is meaningless.&rdquo;</li>
<li>&ldquo;To be gifted, Black, and beautiful means nothing unless you are Black and powerful.&rdquo;</li>
<li>&ldquo;Don&rsquo;t quit your job until your side income covers twice your monthly expenses.&rdquo;</li>
<li>&ldquo;White folks plan for three generations; we plan for Saturday night.&rdquo;</li>
<li>&ldquo;Money attracts money&mdash;start with $100 in a savings account.&rdquo;</li>
<li>&ldquo;There should not be a Negro in America with a single stream of income.&rdquo;</li>
</ul>
<hr>
#SHMS #STRAW #BEST

Hi, this is Rushion McDonald. Welcome to the podcast world of Money Making Conversations Master Class. I interview profits and nonprofits to learn their "Secrets to Success."  I'm a former IBM Executive with a degree in Mathematics. I started my entrepreneurial career as a stand-up comic, then became a sitcom writer, award-winning baker, social media influencer, award-winning television Executive Producer, and brand architect for super-successful celebrities and products. Money Making Conversations Master Class interviews a diverse group of celebrities, entrepreneurs, and influencers in the financial and business community with their advice and tips so you can be successful, too. It's time to stop reading other people's success stories and start building your own. People always talk about their purpose or gifts. If you have a gift, Lead with your Gift, and don't let your friends, family, or co-workers stop you from planning or living your dream. Keep Winning!

https://www.moneymakingconversations.com

https://www.youtube.com/MoneyMakingConversations

https://www.facebook.com/MoneyMakingConversations/

https://twitter.com/moneymakingconv

https://www.instagram.com/moneymakingconversations/

Hi, this is Rushion McDonald. Welcome to the podcast world of Money Making Conversations Master Class. I interview profits and nonprofits to learn their "Secrets to Success."  I'm a former IBM Executive with a degree in Mathematics. I started my entrepreneurial career as a stand-up comic, then became a sitcom writer, award-winning baker, social media influencer, award-winning television Executive Producer, and brand architect for super-successful celebrities and products. Money Making Conversations Master Class interviews a diverse group of celebrities, entrepreneurs, and influencers in the financial and business community with their advice and tips so you can be successful, too. It's time to stop reading other people's success stories and start building your own. People always talk about their purpose or gifts. If you have a gift, Lead with your Gift, and don't let your friends, family, or co-workers stop you from planning or living your dream. Keep Winning!
https://www.moneymakingconversations.com
https://www.youtube.com/MoneyMakingConversations
https://www.facebook.com/MoneyMakingConversations/
https://twitter.com/moneymakingconv
https://www.instagram.com/moneymakingconversations/

Money Making Conversations Master Class

Money Tips: He promotes financial literacy, wealth-building strategies, and entrepreneurial thinking within the Black community.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/484849ad-a949-4e76-827c-b3c9015274ff/transcript