Building Wealth While Building Your Business: Insights from Experts in Finance and Investing

The Business Credit and Financing Show

Carter Cofield is one of the co-founders of Melanin Money, a platform dedicated to empowering Aspiring 1st Generation Melanin Millionaires.

He’s a Certified Public Accountant (CPA) and Personal Financial Specialist (PFS), is the Lead Advisor at Cofield Advisors, LLC. He is passionate about empowering entrepreneurs to thrive by strategically navigating their taxes. Carter’s dedication to financial literacy led him to co-create Melanin Money, the #1 brand for wealth builders of color, with a mission to close the racial wealth gap by 10%.

Melanin Money was born out of the need to bridge the wealth gap for people of color. With a focus on providing trusted education, resources, and a supportive community, the platform equips individuals with the tools to start building wealth and securing financial freedom.

Through a combination of financial education, branded initiatives, and merchandise, Melanin Money is creating a movement to help individuals of color build generational wealth and leave a legacy for future generations.

During the show we discussed:

• Understand the $100B wealth gap and how to close it.
• Learn how to reach your first $1M in net worth.
• Discover legal ways to pay less in taxes.
• Use proper strategies to shelter money from the IRS.
• Turn everyday expenses into tax deductions.
• Apply income shifting to reduce taxes.
• Invest while saving on taxes using real estate and other assets.
• Know key financial principles before investing.
• Believe wealth is possible to achieve it.
• Avoid common mistakes new investors make.
• Align investments with business growth goals.
• Assess risk and diversify your portfolio.
• Invest wisely with limited time and resources.
• Choose the right assets to grow your wealth.
• Balance business reinvestment with personal investing.
• Structure finances for business and personal wealth.
• Build passive income while growing your business.
• Balance short-term and long-term investments.
• Explore overlooked wealth-building opportunities.
• Plan taxes smartly to boost investment returns.
• Leverage compound interest for long-term gains.

Resources:

https://melaninmoney.com/