In a bold shift from the traditional Black Friday frenzy, hundreds of Chicagoans gathered at Harold Washington Cultural Center for the Black Friday Wealth Symposium — an empowering event focused on wealth-building rather than consumerism.
“Start making a way. Reduce the debt in your household — you don’t need that $300 cable bill. Just because it’s 2024 doesn’t mean you need it right now. Let’s live greater later,” said Melody Winston, Senior Executive of Living Fresh Market during a panel discussion at the event on Friday, November 29.
Hosted by State Representative La Shawn K. Ford and the Building Dreams Foundation, this symposium brought together local millionaires and financial experts to inspire and educate the community on sustainable economic growth, financial literacy, and real estate. Lyricist, inspirational speaker, DJ, and hip-hop pioneer MC Lyte kept the energy high between panel discussions.
“Black Friday done right. The Wealth Symposium was everything,” Kendra Williams posted on Facebook after the event. “Awesome information, networking opportunities, and fun.”
From left to right: Andrew Bonsu, Bonita Harrison, Bobby Simmons, Natasha Robinson, and Jemal King; Photo credit: Rhinehart Media Group.
The event kicked off at 10 a.m. CST with a vendor fair lining the corridors, featuring local businesses such as Flanagan Injury Law Group, Brandon Mr. Finance, and Loans by Natasha.
Renowned real estate educator and keynote speaker Marki Lemons-Ryhal served as one of the event’s moderators, encouraging people to start using AI to build wealth. She even rewarded people who took action with 50” TVs. One participant walked away with a $1,000 cash prize, highlighting the event’s focus on empowering the community in real, tangible ways.
The event’s panel discussions were the full-course meal Chicago’s residents had been hungry for, offering actionable insights and real-world strategies for financial empowerment.
Ebony Lucas, a real estate investor and attorney, shared how her journey into real estate investing began as a way to fund her children’s education.
“As an entrepreneur, I realized I could use real estate to pay for my kids’ tuition. I decided there would be a building for each child, and the income from those buildings would cover their education costs,” she explained during the “Secure the Bag: Generational Wealth & Estate Planning” panel moderated by Chicago Realtor Cierra Thurman. Over time, her plan expanded beyond her children’s education to become her retirement strategy. “I understand that real estate builds equity, and because I buy and hold properties while collecting rent every month, it’s efficient income.”
Now, 16 years later, Lucas has built an impressive real estate portfolio. “I’ve come to understand the importance of teaching others about this path. I try to share with as many people as possible how to invest in real estate and use it as a mechanism to build wealth,” she added.
Dr. Farrah Gray shares a similar passion for encouraging financial literacy and wealth-building. “If you drive a Land Rover or Land Cruiser and have a landlord, something is wrong,” he said. “Many of you are wearing Christian Dior but sleeping on the floor.”
Dr. Gray, who was born and raised in Chicago’s Robert Taylor Homes, began his entrepreneurial journey as a child, selling rocks to his neighbors before moving on to more ambitious ventures. By age 14, he became a self-made millionaire, earned his doctorate at 21, and retired by 30. Now at 40, Dr. Gray is a global influencer with millions of followers, inspiring others to rethink their financial priorities.
But even if you don’t start young, you can still achieve your financial goals. Larry Jones, the YouTuber behind Stock Up with Larry Jones, shared his own story of resilience. After losing his job during the pandemic, Jones and his wife used their stimulus checks to kickstart their financial comeback, turning $2,400 into $53,000 in less than a year in the markets.
For those ready to take charge of their wealth-building journey, Jones advises starting a side hustle and investing every single dime of the earnings. “Do it for a year, and it will change your life,” he emphasized, highlighting the transformative power of focus and strategic investment.
Lynn Richardson, celebrity financial coach and host of The Millionaire’s Roundtable, also shared her practical approach to money management. “The first 10% of every dollar you get, you tithe. The next 10% you save — not just for a rainy day, but for a come-up when stocks or real estate are low,” she advised. Richardson recommends allocating 30% of income into a separate account for discretionary expenses, such as groceries and personal care, and the remaining 50% for bills.
She also emphasized the importance of diversifying income streams: “One stream of income is hazardous to your wealth.” When asked at a company event how she became a top financial professional, Richardson gave credit to her faith, saying, “Acknowledge God in all your ways, and He will direct your path.”
The Harold Washington Cultural Center was filled with financial experts and local leaders, including Jemal King, the “9-to-5 Millionaire,” and Bonita Harrison, who shared valuable insights on credit and initiatives like the Cook County Land Bank. However, if there was one lasting takeaway from the event, it came from Ebony Lucas, co-creator of the Black Friday Wealth Symposium:
“You have to start with believing you can do it,” Lucas said. “I had a conversation with a friend who told me she would never be a millionaire. And if you say that, you will never be a millionaire.”
She continued, “But the second thing is to ask for help. I’m where I am not because I’m the smartest person in the room, but because I ask questions.”
