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Dennis Kimbro

The Wealth Choice: Success Secrets of Black Millionaires Hardcover – February 19, 2013

by Dennis Kimbro (Author)

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It’s no secret that these hard times have been even harder for the Black community.

Approximately 35 percent of African Americans had no measurable assets in 2009, and 24 percent of these same households had only a motor vehicle. Dennis Kimbro, observing how the weight of the continuing housing and credit crises disproportionately impacts the African-American community, takes a sharp look at a carefully cultivated group of individuals who’ve scaled the heights of success and how others can emulate them. Based on a seven year study of 1,000 of the wealthiest African Americans, The Wealth Choice offers a trove of sound and surprising advice about climbing the economic ladder, even when the odds seem stacked against you. Readers will learn about how business leaders, entrepreneurs, and celebrities like Bob Johnson, Spike Lee, L. A. Reid, Herman Cain, T. D. Jakes and Tyrese Gibson found their paths to wealth; what they did or didn’t learn about money early on; what they had to sacrifice to get to the top; and the role of discipline in managing their success. Through these stories, which include men and women at every stage of life and in every industry, Dennis Kimbro shows readers how to:

· Develop a wealth-generating mindset and habits

· Commit to lifelong learning

· Craft goals that match your passion

· Make short-term sacrifices for long-term gain

· Take calculated risks when opportunity presents itself

Print length

304 pages
Language

English
Publisher

Palgrave Macmillan Trade
Publication date

February 19, 2013
Dimensions

6.49 x 1.13 x 9.62 inches
ISBN-10

0230342078
ISBN-13

978-0230342071
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Editorial Reviews

From Booklist

Whatever the circumstances of an individual’s life—disadvantages of race, social status, or economic climate—wealth is a choice, argues Kimbro as he explores the lives of several successful African Americans to plumb the lessons of achieving wealth. Kimbro offers seven “laws” of wealth, including knowledge as an economic weapon, the importance of resolve, the pursuit of special gifts, and opportunities gained through service. Drawing on seven years of research and interviews with entrepreneurs and celebrities, Kimbro highlights the personality traits and habits that have led them to succeed against great odds. Among his interview subjects are Bob Johnson, Terry McMillan, Spike Lee, T. D. Jakes, and Richard Parsons. Kimbro explores their attitudes and early lessons on money as well as the personal challenges they faced to achieve success. Although targeted at African Americans, readers of all races and ethnicities will appreciate these inspiring stories and insights on overcoming obstacles and achieving wealth. --Vanessa Bush

About the Author

Dennis Kimbro is the author of four books, including Think and Grow Rich: A Black Choice, and a certified Napoleon Hill Science of Success trainer and leadership coach. Kimbro's motivational lectures have influenced the boardrooms of General Motors, Walt Disney, Frito-Lay and Wells Fargo. He has appeared on such shows as Today and Larry King Live, and has been featured in Success, The Wall Street Journal, The New York Times and USA Today. Kimbro is listed in Who's Who in Black America and is the former director of the Center of Entrepreneurship at Clark Atlanta University.

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Product details

Publisher ‏ : ‎ Palgrave Macmillan Trade; 1/20/13 edition (February 19, 2013)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 304 pages
ISBN-10 ‏ : ‎ 0230342078
ISBN-13 ‏ : ‎ 978-0230342071
Item Weight ‏ : ‎ 1.05 pounds
Dimensions ‏ : ‎ 6.49 x 1.13 x 9.62 inches

Best Sellers Rank: #1,337,871 in Books (See Top 100 in Books)
- #3,819 in Introduction to Investing
- #7,616 in African American Demographic Studies (Books)
- #8,070 in Finance (Books)

Customer Reviews:
949 ratings

Customer reviews

5 star		86%
4 star		10%
3 star		2%
2 star		1%
1 star		1%

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Top reviews from the United States

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This book will make you think about your BAD time consuming habits and how they affected your life.

Reviewed in the United States on September 11, 2019

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I bought this book many years ago. It's based along the lines of the Millionaire Mind by Thomas Stanley but it is a more modern updated version involving melanated people. It's interesting to see how people use their time when their priorities are so different than the average Black American. This book shadows successful people of color in how they use their time and how they schedule their life.

I loved this book, so much so that I was able to meet Dennis Kimbro here in Atlanta and have him sign it for me and my mother. I've given this book out to countless people who I know for a fact did not read it.

I truly believe this book touches on so much that keeps people of color from advancing. The countless hours we waste on social media - Facebook, IG, Twitter, Watching tv, watching sports... Those things constitute much of our free time, just imagine if we were to use that productively.

This book is one reason why I do not watch sports like I used to. It's hard to fathom I used to spend every waking Sunday from 11:30am to 11:00pm watching NFL football. That's valuable time I could have used to learn another language, learn how to day trade, pick up a hobby that I could use as a p/t job... Options are limitless..

Take inventory of how you use your valuable time.

30 people found this helpful

Helpful

Lauchlan Mackinnon, Ph.D.

A great study of the path to wealth

Reviewed in the United States on August 18, 2020

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I thought this was an excellent book.

I loved that

* It is well researched - the author surveyed 1,000 self-made black millionaires and did extensive additional 1-1 interviews and focus groups, including interviewing five black self-made billionaires. He also drew on sources of data such as government statistics to underscore key points in the book with data.

* It is politically on point - at the end of his career, Dr. Martin Luther King, Jr., was examining the economic power of the black community, and how economic equality can help with achieving political equality. Becoming wealthy,
for people in the black community is then not just an act of economic self-interest, it is also an act of political empowerment. The book quotes some leading black figures to make this point:

“Never forget, until you are free economically, true independence will always be an afterthought. Today, we, as Black Americans, can live where we want, eat what we want, sleep where we want, and send our children to the finest schools we so desire. But for far too many of us this form of freedom is difficult to express. Why? Because in most cases we cannot afford to. Unless you are free economically and financially, you will never be free personally.” - John H. Johnson

"Dr. King and I integrated the lunch counter, but we never integrated the dollar. And to live in a system of free enterprise, and yet not to understand the rules of free enterprise, that’s the definition of slavery" - Andrew Young

* The approach in the book is centred around finding your strengths - the path to wealth that Kimbro documents is centred in finding your strengths and putting them to work in service to others.

In a nutshell, Kimbro's research says that to become wealthy there are two keys:

1. Take control of your own financial destiny by starting a business and working for profits, not paychecks, and
2. Save and invest.

Kimbro maps this out into 7 laws of wealth (I added the phrase at the start of each law, the phrase at the end is from Kimbro):

1. Mindset & Right Ideas: Wealth begins in the mind but ends in the purse
2. Decide: Decide that you will not be poor
3. Self-belief & Faith: Believe in thyself when no one else will
4. Build on your Strengths To thine own self be true; find your unique gifts
5. Add Value: How may I serve thee?
6. Ownership: Thou shalt own thy own business
7. Save & Invest: Wealth Make thy money grow

I recommend this book.

I agree with another reviewer that the writing style could probably have been tightened up a little for increased engagement, but it wasn't bad - it just could be better. I still give it 5 stars, primarily for the content it delivers and the relevance and value of that content.

Also, FWIW I'm a white guy. I think that the wealth advice he gives is relevant for black people, latinos, Asians, Native Americans, and yes, white people, as well as for people all around the world in different countries outside America. It is relevant for both men and for women - he gives success story examples from both genders.

This book is part of the author's life's work spent studying and teaching this topic. It shows.

8 people found this helpful

Helpful

Sherri D. James

Good information but meanders too much

Reviewed in the United States on July 23, 2016

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So, I want to give this book five stars because of the depth of the research Dr. Kimbro put into it. But, it is not the easiest read. His writing meanders....a lot. Subject headings promise information that's never delivered. Chapters take more than an hour to get through. The same points are made in multiple chapters making the info feel redundant.

In an effort to "create suspense" for a particular piece of info, he draws it out with clause after clause after clause. By the time you get to the information, you're exhausted as a reader (and a bit frustrated). I think that style works for a motivational speech. But for a book, it just gets to be too much.

BUT...you cannot beat the depth of information he provides. I was introduced to people I didn't know, got to know better people I was aware of and was reminded of my own inner desire for millionaireship. In the end, I'm grateful I persevered to the end. I would've anyway because I'm personally committed to wealth generation and eliminating poverty from my life. But if I were reading with a less focused and determined agenda, I would've put this book aside after only one chapter in.

Thank you Dr. Kimbro. I'm grateful for your work. Whatever critique I have of your style of writing does not at all diminish my respect and admiration of you. Thank you for your passion for uncovering the root causes of wealth and sharing it with people like me. #grateful

40 people found this helpful

Helpful

N & L Apparel

The predecessor to Think and Grow Rich the black choice

Reviewed in the United States on September 1, 2017

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This is kind of an extension of 'Think and Grow Rich the black Choice' which is a phenomenal! This book it's summarized, inspiring and gives plenty of motivation to take you to the next level in life.. I recommend reading ' Think and Grow Rich the black choice' then shortly after read this book.

19 people found this helpful

Helpful

Top reviews from other countries

Very practical

Reviewed in the United Kingdom on July 5, 2020

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This books sets down seven laws of wealth. The stories of the individuals are very inspiring and on many occasions did a quick check on them.
Wise words from many of the millionaires.
This is a book for reference especially when the going gets tough, the words of those who have gone ahead will surely inspire.
Thoroughly enjoyed the book. Thank you Mr Kimbro!

One person found this helpful

Lexi

This book was life changing!!

Reviewed in the United Kingdom on September 25, 2019

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5star book!!

One person found this helpful

MRS MJ GOODMAN

Excellent

Reviewed in the United Kingdom on January 29, 2014

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This book has change my life in a way that i will try to explain. I have started a meet up group to share with others what I've learn, so we too can put our minds and thoughts together to create. Brilliant book thane you Dennis Kimbro

2 people found this helpful

Nene O

Reads more like a research paper

Reviewed in the United Kingdom on March 15, 2017

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Hmm, I was expecting a.bit more from this book , didn't get that much from it. A lot of the content/references.can be found online

D. Goode

Well worth a read

Reviewed in the United Kingdom on December 29, 2016

Verified Purchase

Some great examples of wealth creators in this book and their practical tips on how one can create their own financial fortune. Dr Kimbro writes with passion and a sense of caring which urges the reader to choose wealth!

One person found this helpful