Ep. 12 - Bridging the Wealth Gap: Insights from Ray'Chel Wilson

Welcome to an inspiring episode of DO GOOD X. It’s our privilege to host Ray'Chel Wilson, founder of Raise the Bar Investments and ForOurLastNames, a technology company that transforms the way financial professionals do lead generation & how wealth builders heal financial trauma. Ray’Chel’s workbooks and personalized curriculum have helped minorities bridge the wealth gap, making her a pivotal figure in economic education. Listeners will gain valuable tips from Ray'Chel on raising capital and will learn about accessible resources funded by tax dollars. She also reflects on the most significant advice she has received, her faith’s crucial role in her journey, and the guiding principles behind her work.

In the Mystery Segment, Kimberly and Stephen delve into the mindset necessary for positioning oneself for financial success, providing a thought-provoking conclusion to this enriching episode. Take advantage of this opportunity to learn from one of the leading voices in economic empowerment and education.

THIS EPISODE:

(00:00) Intro

(01:44)  Meet award-winning educator and author Ray’Chel Wilson

(04:28) Ray’Chel's passion regarding the racial wealth gap in the U.S economy and how she recognized different types of funding that could apply to various projects

(08:33) Ray’Chel discusses “financial trauma” and how the ForOurLastNames app will connect individuals with the proper non-predatory professionals, and she encourages new entrepreneurs to do a SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis

(12:37) Tips regarding raising capital, and she discusses starting a tech business, given she does not have a technical background

(17:16) Ray’Chel outlines factors that helped with her productivity; she mentions resources that tax dollars pay for and also books she has authored and where they can be purchased

(24:21) Ray’Chel discusses the most significant advice she has received, the role her faith has played in her story, and what guides her work

(31:49) Mystery Segment, Kimberly and Stephen explore what mindset one needs to position themselves for success

TAKEAWAYS: 

• McKinsey and Company found that 60 percent of Black men and women have no assets, and the racial wealth gap cost is upwards of 2.1 trillion dollars when we're thinking about stocks or real estate
• Having a tech background isn’t necessary to develop a tech company. It requires a deep understanding of the problem and the ability to recruit experts in the tech field to assist you
• Ray’Chel believes in having a business meeting with God. She points out that Jesus is her favorite social justice warrior

RESOURCES:  

DO GOOD X - Podcast

For Our Last Names - Website

RTB Investments Books

Play Bigger - Book

Rich & Righteous - Book

Build the Damn Thing - Book

BIO:

Ray'Chel Wilson is a changemaker closing the gender & racial wealth gaps, is based...