"The poor stay poor not because they are lazy, but because they have no access to capital."
- Milton Friedman
It has been several weeks since I last gave an update as to what is happening with the ITA Wealth Management membership fees I am donating to MEDA Trust. Check out the link if you want to know more about this organization.
Over the last few years my wife and I have donated X dollars to MEDA Trust. Do to the generosity of individuals and governments, our donations have been more than matched. In fact 1.05X dollars were matched.
Thus far, 5.27X dollars have been paid back. The amount is greater than X as the dollars are loaned over and over. As payments are made on a loan, the dollars flow into the donor's account. These are not our dollars as these are contribution dollars. When a loan is paid, those dollars become available to be loaned to start a new business and that is why more than X dollars have been paid back into our "foundation" account.
Currently, 7.36X dollars are out on loan and working with farmers, store owners, market vendors, weavers, etc. Checking our account this morning, I see where we have helped launch 237 businesses. One writer calculates that for each business started, another 100 people are impacted. By this summer we expect to be helping over 250,000 people and our goal is to impact 1 million people. You can help by becoming involved.
If you would like to become directly involved in helping the less advantaged, open up your own account with MEDA Trust. Or you can take out a Platinum membership and become a student of ITA Wealth Management knowing that your membership fees will be donated to MEDA Trust.
Platinum membership is available for $5.00 per month. Learn how to construct, manage, and monitor your portfolio.