Finance
Financial advisor Nelson Simmons III uses Roth backdoor to make ‘everyday millionaires’
ORLANDO, Fla. – This week on the Season 4 premiere of “Black Men Sundays,” host Corie Murray interviews Nelson Simmons III, a budgeting coach and financial advisor with years of corporate experience and a mission to make others richer.
It’s what he says he’s most passionate about, helping people win with their finances and doing his part to create as many “everyday millionaires” as he can.
“I kind of want to explain what an ‘everyday millionaire’ is. That’s just a ordinary person just like myself. Like, you didn’t grow up with money, we didn’t grow up with a silver spoon in our hand, we didn’t grow up — at least I didn’t — upper middle class. (We’re the) first generation soon to be wealthy,” he said.
Before going into explaining how to become an everyday millionaire, Simmons said he had to discuss the main hinderances he’s observed. One of them, he advised, is the lack or misuse of an emergency fund.
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“A properly-funded emergency fund is an account with three to six months of living savings in it, and so what ends up happening is, what hinders the people that I sit across from, is when they dip into their retirement savings because they don’t have that appropriate emergency fund set up,” he said. “You’re basically stealing from a future version of yourself to cover something that, if you just had appropriately planned for, it wouldn’t even be a issue.”
Take post-Christmas credit card bills, for instance. It’s in no way an emergency purchase, so if you’re considering spending your savings on getting those paid off, Simmons would warn that it’s probably the worst option, especially in light of how interest rates impact credit cards at the moment.
A great way to set money aside and watch it grow is putting it in a Roth IRA, and though that’s already true with calculated restrictions to contribution amounts in place, Simmons says there are methods of getting more out of a Roth than you may have ever thought possible.
“You can contribute the full $7,000 if your modified adjusted gross income is less than $146,000. So, you have a range; $146,000 to $161,000, that’s the range, it starts to fade as you make more than $146,000 as an individual, right? So once you hit that $161,000, you can no longer as an individual — if you’re filing as single or head of household — you cannot legally contribute to a Roth IRA. As a married person, $7,000 each. Wife and the husband can both contribute $7,000 to a Roth IRA. Once you start making $230,000 or more, that’s when you’re no longer allowed to contribute to a Roth IRA,” he said. “Here’s the Roth backdoor strategy. No. 1, you’re going to open up a traditional IRA account that has no prior contributions. No. 2, you’re going to open up a Roth IRA. No. 3, you’re going to contribute to the traditional IRA, but you’re going to hold the funds in a money market — just in cash — ‘til the conversion. Four, you’re going to convert the money to the Roth IRA, and inside the Roth IRA is when you start picking those investments to help grow your money tax free.”
Hear the full interview in Season 4, Episode 1 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.
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Finance
Anne Arundel County Launches New Finance and Procurement Platform
Anne Arundel County is preparing to launch a new finance and e-procurement system to modernize county operations and improve how businesses interact with local government.
The new platform, called Harbor, is scheduled to go live in July and will replace the County’s legacy procurement system with a centralized cloud-based platform built on Oracle Fusion Cloud.
County officials say the new system is designed to streamline procurement and financial processes while making it easier for both existing and prospective vendors to do business with the County.
From the press release:
“Harbor is a much-needed upgrade that will streamline services for our county agencies and those who do business with the county,” said Anne Arundel County Chief Administrative Officer Christine Anderson.
The platform will serve as a single portal for supplier registration, bid opportunities, invoicing, payment tracking, and contract management, consolidating what had previously been spread across multiple systems. County leaders say the transition is part of a broader effort to modernize operations, improve efficiency, and lower barriers for businesses seeking to compete for county contracts.
For counties, procurement modernization remains an important operational priority as local governments look to improve transparency, strengthen vendor engagement, and simplify access for businesses of all sizes. Anne Arundel County has encouraged interested suppliers to review training materials and registration information ahead of the July launch.
Finance
Quadient Recognized as a Leader in the 2026 SPARK Matrix for Accounts Receivable Applications
Quadient demonstrates continued innovation in AI-driven invoice-to-cash automation and unified finance operations
Paris
Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, announced today it has been recognized for the fifth consecutive year as a Leader in the 2026 SPARK Matrix™ for Accounts Receivable Applications by technology analyst and advisory firm QKS Group. Quadient strengthened its position in the report year-over-year, with a notable improvement in Technology Excellence, reflecting continued innovation in its AI-driven invoice-to-cash solution.
According to QKS Group, Quadient’s leadership position highlights its evolution into a comprehensive, AI-powered platform that delivers strong predictive accuracy and straight-through processing. The analyst firm also emphasized the capability of Quadient’s solutions to unify accounts receivable (AR) and accounts payable (AP), offering finance leaders greater visibility and insights into their business finances to make faster, better decisions on working capital management.
Earlier this month, Quadient announced the release of its new cash dashboard capability for AR and AP that allows finance teams to bring together traditionally siloed data in a single view. An AI assistant summarizes key metrics and provides analysis that helps finance leaders accelerate cash on hand, improve forecasting, reduce risk and uncover opportunities to optimize working capital.
“Quadient has established a strong position in the 2026 Accounts Receivable Automation market through its focus on intelligent automation, cash flow optimization and integrated financial operations,” said Sanjeevi C R, associate vice president, Enterprise Research at QKS Group. “The platform’s evolution from predictive analytics to AI-driven autonomous collections execution represents a meaningful step forward in reducing manual effort across the invoice-to-cash cycle. What differentiates Quadient is its ability to combine collections management, cash application, and payment processing with a unified accounts receivable and accounts payable ecosystem, providing finance leaders with a more holistic view of working capital performance. By enabling greater automation, enhanced cash flow visibility, and more efficient receivables operations, Quadient continues to deliver measurable value for organizations seeking to modernize their financial processes and improve liquidity management.”
QKS Group highlighted the following key strengths for Quadient AR:
Finance
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