The Momentum Advisors Show

This week, we're talking with Lulete Mola, executive director of the Minnesota Black Collective Foundation. As one of the few social justice organizations with an endowment, they're leading the way in funding Black-led nonprofits. Join us as we dive into their work and explore the critical role of strategic planning in philanthropy.

August marks Black Philanthropy Month, a vital initiative launched in 2011 to champion funding equity and uplift philanthropic efforts within communities of African descent. This focus is more critical than ever, as the percentage of funding directed towards Black charities has decreased by over 30% since the surge in giving that followed George Floyd's death. In Part One of this two-part series, we'll dive into the fundamentals of philanthropy from the perspective of non-profit leaders. We'll explore the "5 T's of philanthropy" and discuss effective funding strategies designed to build a sustainable organization. You'll also get an introduction to the Minnesota Black Collective Foundation.

Our employer retirement plans, collectively holding over $12 trillion, are often our largest assets. For years, the conventional wisdom has been to roll these funds into IRAs when changing jobs. However, a troubling trend is emerging: one-third of workers are cashing out their plans when they leave a job, wiping out their savings. We're also seeing a record number of people taking hardship distributions from their 401(k)s, and even social media influencers are encouraging people to cash out their retirement funds entirely. This week, we're diving deep into this alarming trend of mismanaging retirement savings. We'll explore the reasons behind these decisions and, more importantly, provide practical advice on how to get your retirement planning back on track.

Medicaid, the government health insurance program for individuals with limited income and assets, often becomes a crucial consideration for families aiming to protect their savings and preserve inheritances when anticipating significant healthcare costs. The program has always been complex and now it’s getting trickier in the face of steep budget cuts by the Trump administration.  This week, we explore strategies families use to qualify for coverage, including the controversial tactic known as "Medicaid divorce." Join us to understand this emergency lifeline and its implications for your family's financial future.

The tax changes we previewed a few weeks ago are now law. Trump’s OBBBA (we are affectionately calling it the “One Blankity Blank Bill Act”) is set to impact everyone in different ways — delivering big savings for some high income earners, and taking away financial safety nets for others.  Join us this week as we dissect the tax changes and show you how they'll directly affect your pockets. We will also address the elephant in the room…while everyone's focused on lower tax bills, multiple economists project a $3 to $5 trillion surge in our federal budget deficit over the next ten years.

A record three million young adults are heading off to college this fall, and for many parents, this milestone brings a powerful mix of emotions: immense pride, underlying fear, and a touch of heartbreak. But beyond the emotional rollercoaster, there's a sudden, stark reality – your 18-year-old is now legally an adult. This means no more automatic access to their grades or healthcare decisions. Join us as we tackle this significant transition with the help of 3 special guests - the Momentum Advisors' summer interns. We'll explore the landscape of sending your child to college and, importantly, guide you through the legal preparations. We'll also introduce you to the MamaBear website, a valuable resource for preparing the necessary legal documents to help you navigate this new chapter.

Homeowners have access to a record-breaking $35 trillion in home equity. With interest rates uncomfortably high, tapping into that wealth has become complicated. Traditional options like HELOCs and second mortgages are expensive, and new companies are pushing "Home Equity Investments" (HEIs)—deals that often seem too good to be true. On this episode, we break down all your options for accessing your home equity, from understanding the risks of HEIs to exploring the pros and cons of reverse mortgages, HELOCs, and traditional second mortgages. Learn how to unlock your home's cash without risking your financial future.

A perfect 850 FICO score is a rare feat, held by just 1.54% of credit-holding Americans. This aspirational target is becoming even harder to attain as the credit landscape continuously evolves. Join us this week as we break down upcoming changes in credit calculations and put Andrea's credit expertise to the test.

Wedding season is in full swing! With over 2 million marriages annually, summer and fall are peak times for couples to say 'I do.' Beyond traditional nuptials, many same-sex couples are exploring civil unions and domestic partnerships. Join us today as we delve into all your options and help you navigate taking your relationship to the next level!

Despite unauthorized immigrants comprising less than 5% of the American workforce, the government is pursuing mass deportations. The stated goal is to open up jobs for citizens, but will it work? This week, we explore the complex social and financial implications of current immigration policies. We'll shed light on the vital role unauthorized workers play in our labor force and the potential economic fallout of their absence.

Whether it's scaling down, moving up, or diving into the home-buying market for the very first time, people are navigating a wide range of housing journeys. In this episode, we sit down with real estate expert Kim Primus to break down the issues, challenges, and opportunities in the real estate market today. If you are an aspiring investor, buyer or homeowner, you don’t want to miss this one! Find Kim on Instagram @kimprimusnjrealtor

Congress is weighing major tax cuts and small yet concerning budget reductions. In this episode, we break down how these shifts might impact you personally. Plus, with summer fast approaching, we offer practical tips to help recalibrate your household budget after the overspending you probably experienced in May.

Every parent wants their child to grow into a responsible, happy and hardworking adult—but how do you make that happen? With summer around the corner, we’ll explore ways to instill these values through meaningful experiences. Special guest Storm Reaves joins us for an insightful conversation on how summer employment, household chores and enrichment activities can shape lifelong habits.

We’re witnessing a time of swift change, with government policies evolving rapidly and economic uncertainty increasing. As consumer confidence declines and financial worries grow, join us this week as we offer our insights on what’s ahead for investors.

Government waste, fraud, and abuse make headlines, and tightening the belt sounds like common sense. But what's the real cost in Black and Brown communities and vulnerable populations? We go beyond the bullet points to uncover the hidden impacts and, most importantly, explore how we can protect and prepare. This episode features a special guest – Lawrence Hibbert of BCT Partners, one of the largest Black-Owned management consulting firms in the country.