Money Stories: Brooklyn Wright (Boi Society)

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Money Stories: Brooklyn Wright (Boi Society)

BLOGBillie Simmons

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Brooklyn Wright (they/them) is an entrepreneur, speaker, strategist, and advocate for underestimated communities. For over 20 years, they have used the power of community, storytelling, and event curation to help top organizations engage with diverse audiences. Forbes magazine named Brooklyn “One of 5 entrepreneurs changing our world, after they amassed a global audience with content that spoke directly to the LGBTQ community. Brooklyn is an advocate for living a more authentic life and encourages all queer and intersectional people to invest in themselves and in their financial future.

When was the first time you thought about money?

I have thought about money all throughout my life. At the age of 7, I started my first business. I created a popcorn and koolaid stand to service all of the hungry children in the neighborhood. I don’t know what made me desire money at that time or if money was the main motivation, but I guess even at a young age I understood that access to money would make a difference. I also really liked the art of business and I understood that money played a big role in entrepreneurship.

What was your “aha” moment with money?

When I was 17 or 18 I was a big fan of the book Rich Dad, Poor Dad by Robert Kiyosaki. Robert was the first person to teach me the concept of “paying yourself first. The book taught me to save at least 10% of every single dollar I made. The key was to save that 10% before paying anyone else. This discipline was so key to my development and it really shaped my financial future. It taught me to invest in myself before investing in anyone else. The 10% I saved repeatedly over the last 2 decades has been used to start and invest in my businesses, it saved my family financially when I was in a motorcycle accident and needed 2 years to recover, and now it is used as part of my investment fund as we plan the purchase of our first investment property and invest in queer and black women business owners.

Over the years I have learned that financial freedom is not magic. It is merely a set of principles one lives by and those principles shapes one’s future.

How has being LGBT+ impacted your relationship with money?

My identity is so intersectional and it all affects my relationship to money. I am a black, queer, nonbinary woman, which means I live in a category of society that typically makes less money, and has fewer opportunities for financial freedom. We are hired less, paid less, and not usually invited to the investment table. All of that has a huge impact on my relationship with money as well as my financial future.

These facts have impacted me to make it part of my mission to push financial literacy with my friends, my community and my loved ones. Talking about money and investing together are just a couple steps my community and colleagues are taking to ensure positive financial outlook for all of us. Together we are attempting to lift all boats. We need banks and financial services that understand our unique perspective and are willing to partner with us to accomplish our financial goals.

What are your financial goals for the future?

Currently my family and I are planning for our early retirement. We are acquiring income generating assets (assets that provide cashflow). We are very interested in developing land spaces and investing in black and women owned businesses. We are also really looking at our philanthropy. We are extremely committed to giving away 10% of our time, talent, and treasure. We know how hard it is for intersectional people to raise money and grow a business or an idea. We want to be early investors in companies with a proven track record and ones we think have the potential to make a huge impact on underestimated communities.

Favorite LGBT+ business (online or ILR)?

I am constantly rooting for black queer businesses so shoutout to the following:
Haute Butch
Good Tree Capital
Zafa Wines
Queen Hippy Gypsy
VDOM
SoukBohemian
Magnitude and Bond
Style is Freedom
Project Q
Stuzo Clothing
Feelmore
BLK MKT Vintage
Queer In Oakland
Q26
Crazy Plant Bae
Chisel Tech Lab

Want to be featured in Money Stories? Email me at billie@joindaylight.com

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Billie Simmons

Co-Founder, Chief of Staff at Daylight