Prescription for success: Shannon Humes-Leavell monitors her investments to ensure she stays on track to meet her goals.

Declaration Financial Empowerment From this day forward. I declare my vigilant and lifelong commitment to financial empowerment and hereby pledge the following:

1 I will use homeownership as a foundation for building wealth.

2 I will be proactive in managing my budget, credit, debt, and tax obligations.

3 I will maximize my earnings potential, live within my means, and commit to saving and investing at least 10% of my income.

4 I will ensure that my investments are properly diversified and correspond to my current financial goals.

5 I will immediately commit to a program of retirement planning and investing.

6 I will preserve and protect my assets through proper financial and insurance planning.

7 I will ensure that my children receive a thorough education on financial and business matters.

8 I will ensure that my wealth is passed on to future generations through proper estate planning.

9 I will actively support the creation and growth of viable, competitive black-owned enterprises.

10 I will use a portion of my wealth to strengthen my community.

AS A PHARMACIST, SHANNON HUMES-LEAVELL knows all about following doctor's orders, and when it comes to managing her finances she recognizes the benefit of seeking guidance. When she graduated from Purdue University in 1999 with a doctorate in pharmaceutical sciences, she realized that she was fortunate. As a 23-year-old, she had landed a well-paying job, and within two years was bringing home $93,000. Savvy enough "to know what she didn't know" about investing and the stock market, she asked a co-worker for a referral to a financial planner.

"I wanted to get into good financial habits early so when I got older I didn't have to play catch-up," she says. Humes-Leavell's friend connected her with Kevin Davis, a certified financial planner and owner of Consolidated Financial Services in Dallas.

"I said to Kevin, 'Pick the most conservative way to invest my money and that's what I want to do,'" says Humes-Leavell, recalling their first meeting. Her conservative mentality translated into safe, low-interest-bearing investments such as a money market account and bonds. While Humes-Leavell could have stood to be a little riskier at her age, her more conservative route worked well for her goals. Humes-Leavell built up $15,000 in a retirement account from her first job as a pharmacy teacher.

Now a manager at Kroger Pharmacy in Dallas earning $120,000, Humes-Leavell recently re-evaluated her conservative approach. By adjusting her savings and investing habits to coordinate with her goals, Humes-Leavell, now 33, managed to save $25,000 for a down payment for her first home, build a $20,000 emergency savings fund, and is well on her way toward building a comfortable retirement nest egg.

Having worked with Davis for several years, Humes-Leavell's financial life has continued to evolve. Married to her husband, William, for six years, Humes-Leavell says, "My personal goals were never different, whether married or single," noting that she always wanted to save for retirement and purchase a house. In 2005, the couple bought a three-bedroom home for $200,000 in Richardson, Texas, with the thought that they may have children within the next few years. Together the couple earns $160,000 annually, and Davis now also works with William in managing his retirement accounts to ensure that the couple's financial plans are in sync.

Indeed, in less than 10 years, Humes-Leavell has been able to meet several of her initial financial goals. Once she became a homeowner with an emergency fund to draw upon, Humes-Leavell adjusted her savings pattern to focus on her ongoing goal of ensuring a comfortable retirement. She began to contribute $12,000 annually to her 401(k) plan. Previously, she had been contributing $6,000. In addition, every year the couple contributes the maximum $4,000 each to a Roth IRA.

"Now that I've been with Kevin for a while and I've done some research on my own, I see what he was telling me was right," says Humes-Leavell. "I am still young and I can be more risky." At their annual meeting in April, Humes-Leavell and Davis substantially reduced her bond holdings and added a large exposure to international stocks. Her portfolio is now allocated 65% in growth, 25% in growth-and-income, and 10% in income funds. All told, her mutual fund portfolio is 55% in U.S. company stocks and 33% in international stocks, with the remainder in cash and bonds. Humes-Leavell is invested in offerings from American Funds, including Growth Fund of America (AGTHX) and Income Fund of America (AMECX).

Davis says he advises clients to diversify their stock and bond holdings to ensure that different size companies from a range of industries, both domestic and international, are represented. With her current asset allocation and annual contributions of $20,000 toward her retirement accounts, Davis estimates that Humes-Leavell, independent of her husband's accounts, can build a nest egg of more than $6 million by the time she reaches age 62.

While the couple appears to be comfortably on the path toward a well-planned retirement, at least one anticipated life change will mean that they'll need to reassess their financial goals and investment strategies yet again. "Eventually we want to have children, probably in the next two or three years, so we are trying to bank as much as we can now (for retirement)," says Humes-Leavell. "Once we have children that may change because we may need to save aggressively for their college."

Humes-Leavell's Advice:

Find a good financial planner. The No. 1 thing anyone should do to help them set their financial goals--and enable them to meet their goals--is to find a good planner. Don't be afraid to ask your friends and family members who helps them man age their finances. Interview the financial planner and look for someone who will be a good fit for you and who is willing to work with you at your pace. If you're just starting out, find someone who's patient and willing to thoroughly explain his or her recommendations.

Do some background reading. In hindsight Humes-Leavell says she wished she had gone to the library or read a bit more about 401(k)s or IRAs before she met with her planner. Such up-front preparation will allow you to ask more focused questions during your meetings and will help make the sessions more productive. When I first met with Kevin I just let him talk because I didn't know what questions to ask," she says. There's a wealth of free information available on the Internet that can help you get started.

Understand diversification. Investors should understand the importance of having a variety of investments in their portfolios. Placing a large bet on any one area can potentially lead to disaster--just think back to the implosion of Enron. Legions of Enron employees were financially devastated because their retirement accounts were heavily weighted in Enron stock. So not only did they lose their jobs when the company folded, but their portfolios plummeted in value. So no matter how great Kroger (KR) stock is, Humes-Leavell knows that she doesn't want to have too large a stake in her company's stock.

To download the Black Enterprise Wealth Building Guide, go to www.blackenterprise.com/wealth/wbkguide.asp.