Kevin Hart Advises Blacks to Become More Financially Literate
Celebrated comedian and actor Kevin Hart made a surprise visit at a local bank where he stressed the importance of African Americans becoming more financially literate as a means of living a better life and achieving their goals.
Hart spoke at the Chase Bank branch at the Skyland Town Center in Southeast on Nov. 3 before a group of 40 people. During an hour-long discussion moderated by Alfonso Guzman, the regional director for the Chase, Hart said becoming financially solvent took time and a lot of learning on his part.
“The financial journey never stops,” Hart said. “You need access to information in order to be financially independent. It won’t be given to you. You have to go out and find it.”
In a 2021 edition of WealthyGorilla.com, Hart counts as the 14th richest comedian in the world with an estimated worth of $200 million. Since launching his career in 2001, Hart has performed stand-up comedy shows in person and on television, starred in two Jumanji films and launched the Laugh Out Loud Network, a subscription video streaming service in partnership with Lionsgate.
Hart said he became wealthy by becoming educated in the best ways to save his money, investing his funds in a deliberate manner and learning about financial markets and commercial tools.
The comedian said his road to financial prosperity came with plenty of bumps.
“There were times when I was upside down financially,” he said. “I didn’t understand the world of taxes and I would put my money in the wrong things. It took me time to learn that it was better if I used an LLC to house my earnings instead of getting a straight paycheck for my work.”
Hart said he practices thriftiness by “living off a quarter.”
“Out of every dollar, I live off of a quarter,” he said. “Taxes take up 40 to 45 cents and the other portion goes to paying bills and other obligations. The rest, a quarter, is what I live off of. I also try to put something to the side.”