Building Wealth in Indian Country: A Guide to Asset Management

Building wealth is about more than just accumulating money; it's about creating a legacy of prosperity and opportunity for yourself, your family, and your community. For Native Americans, asset management takes on a deeper meaning, connecting to the values of stewardship, long-term vision, and collective well-being. This guide provides a framework for building and managing assets in Indian Country, empowering you to take control of your financial future and contribute to the economic sovereignty of your tribe.

1. Understand Your Assets

Identify Your Assets: What resources do you have at your disposal? This might include land, natural resources, financial capital, businesses, and even your cultural heritage and knowledge.

Assess Their Value: Determine the current and potential value of your assets. Consider both their economic worth and their cultural significance.

Community Assets: Recognize the assets held collectively by your tribe, such as land trusts, businesses, and cultural institutions.

2. Develop a Plan for Asset Management

Set Clear Goals: What do you want to achieve with your assets? Do you want to generate income, preserve wealth for future generations, invest in your community, or support cultural initiatives?

Create a Strategy: Develop a plan for managing your assets that aligns with your goals and values. This might include strategies for saving, investing, protecting, and growing your assets.

Seek Guidance: NFDC offers financial education and coaching programs to help you develop an asset management plan tailored to your needs and aspirations.

3. Invest in Your Community

Support Tribal Businesses: Invest in businesses owned and operated by your tribe or other Native American entrepreneurs. This strengthens the local economy and promotes self-determination.

Contribute to Community Initiatives: Support projects that benefit your community, such as education, healthcare, cultural preservation, or environmental sustainability.

Share Your Knowledge and Skills: Invest your time and expertise in mentoring younger generations or contributing to community development initiatives.

4. Preserve Your Cultural Heritage

Protect Cultural Assets: Take steps to protect and preserve your tribe's cultural assets, such as language, traditions, and sacred sites.

Invest in Cultural Programs: Support cultural programs and initiatives that promote the transmission of knowledge and traditions to future generations.

Share Your Story: Pass on your knowledge, experiences, and values to your family and community, contributing to the richness of your cultural heritage.

5. Build a Legacy for Future Generations

Long-Term Vision: Think beyond your own immediate needs and consider how your asset management decisions will impact future generations.

Sustainable Practices: Embrace sustainable practices that protect the environment and ensure the long-term well-being of your community.

Financial Literacy: Educate younger generations about financial responsibility and asset management, empowering them to build upon the foundation you've created.