“A penny saved is a penny earned.”
“Work smart, not hard.” “It
takes money to make money.”
Young professionals are often faced
with a barrage of financial advice. The challenge is separating
the bankable wisdom from the myths, particularly at a time when
so many of the well-established rules have been upended.
It may be tempting to
believe that the old ways of thinking about money still apply.
But the truth is while money may change everything – in today’s
world, everything is changing money. Out
financier Dorian Black, a COO of a major investment
house, explains it all.
Does it take money to make money?
Lately I have seen more examples of
poor people getting rich than rich getting richer. In today’s
world, it takes balls to make money. You need a vision and
the confidence to sell that vision.
Does mo’ money really mean mo’
Problems manifest when people put
making money above everything else. Family and friends
should always remain a priority. Money is no good if those
around you feel neglected. I think it’s important to balance
work and life. My friends and family are always the first to put
me back on track when I start to focus too heavily on work
Is “show me the money” passé?
I wouldn’t say that. I believe
in always asking for the sale. Business is a bargaining game.
You first need to build the foundation of trust and respect, but
once you have it, you must go in for the close.
Is it better to work hard or work
We often become obsessive and
controlling over our work. If you are lucky enough to have
a team you can rely on, delegating work to others is a way to
work smart, not hard.
Can money buy you love?
Money can buy love, but probably not
the love you really want. I was lucky to fall in love with my
partner, Marc, when we both had nothing. Our humble beginnings
help us to remember what is important in life: friends and
What are your thoughts on the “Get
rich or die trying” mantra?
At least subconsciously, I believe it
has been my attitude, within reason. I don’t think there is harm
in trying to make yourself better. Still, I have learned that
the true definition of rich is being surrounded by empowering
Benjamin Franklyn said, “A penny
saved is a penny earned.”
Gay men aren’t the best savers. Our
community tends to promote over indulgence. I, too, enjoy
the act of purchasing. As a matter of fact, if I could change
one thing about myself, I would cut up my American Express card.
Saving is essential for future success.
What large purchases are you most
I have made lucrative
Real Estate investments. Property remains the best investment. If you keep
it for the long haul, true wealth will prevail.
Is there anything more valuable
Time. As I get older, I see how
quickly life passes. In the end, all that truly matters is
time well spent with those we hold close to our hearts.
Is it true that the art is not in
making money, but in keeping it?
I think we have seen the truth in this
as many have lost their shirts with the real estate crisis.
Do you agree that if you pay
peanuts, you get monkeys? Is it a good idea to pay top
dollar for the best employees and service providers?
I am big believer in finding raw
talent. A smart person took a chance on me.
Is money the source of all-evil?
Success and money can make people very
arrogant. It’s important to surround yourself with people who
will bring you back down to reality.
Ralph Waldo Emerson said, “Money
often costs too much”. What has money cost you?
It has cost me friendships. It’s
also cost me some hair. Making money can be stressful.