For me and my family 2016 was filled with significant change as well as some important milestones. Although it was not always been easy, as I reflect back on that year, I am encouraged by the results we achieved based on an unwavering commitment to building generational wealth. I hope that our story inspires you to set some challenging but realistic goals so that you too can create a legacy for your family.
Making Investments through RRD
RRD Investments, which is named after my husband, Rudolph, and our sons Rashad and Dylan, was launched in September 2015. By January 2016 my company closed on its first investment property with my partner JRI, LLC. The first few months of 2016 were spent renovating the property.
Unexpected challenges came from all angles. We had to change contractors mid-way through the project as well as finance unexpected repairs. These issues could have set us back but with a little bit of patience, sweat equity, and an excellent realtor — David Foster, we had a property ready for rent in no time. Since then, we have earned passive income from this investment.
Getting Smart on Saving
In June 2015, I started the financial literacy side of RRD’s business plan with a Savings Challenge. What began as a passion to help individuals save at least $500 for an emergency, morphed into a daily social media movement to educate the masses about good financial habits, tips, and tricks to live more financially responsible lives. My most used apps were Acorns and Ibotta. I personally saved almost $1,000 with Acorns and received over $300 back from my purchases with Ibotta. I am grateful for these extra savings tools, but I am most proud of the dozens of people who started using these apps with me and saved more money.
No Place Like Home
Rudolph and I bought our first home together in August 2016. To date, buying our new home was the greatest investment we have made as a couple. But it was no easy feat. The lenders required a lot from us, including paying off all my student loans, my car note, and writing a check for a hefty down payment. We did a lot of penny-pinching for months, but it was all worth it. Today, we can sit back on our couch, hangout with our boys, and enjoy our home together. Best part is my son Rashad already found a BFF who lives next door and loves the Teenage Mutant Ninja Turtles as much as him. This friendship, our sons’ new educational opportunities, and our new sense of financial stability are a direct result of a little financial discipline that will go a long way to creating generational wealth.