Let's Talk - Generational Wealth:
Financial assets that are passed on and built upon with each generation within a family, are particularly important to future financial security. It’s the foundation for opportunities and access to better education, health, jobs and more.
Black Americans have an annual spending power of over $1 trillion but the average household in our community only have about $11k of wealth. There are studies that show that by 2053, the avergae wealth for black families will fall to zero if the gap continues to widen at its current pace. On the flip side the average wealth for white Americans is 12 times higher than that of black Americans at around $140,000, and the inequality in wealth continues to grow and widen with each generation.
How do we began building generational wealth within our families and communities? Lets talk! Share you thoughts, ideas, comments, knowledge, etc below.