Generational wealth is crucial for providing access to opportunities for forward mobility toward financial health and a well life.
Many people, thoughespecially Black peoplehave little to nothing to build upon for reasons supported by systemic racism.
The gap worsens as households grow older.
Lets take home ownership as one example of a wealth-building asset.
(Since 2016, the gap has likely only widened.)
Right after college, Sara accepts an unpaid dream internship in New York City.
…
By age 30, Sara has built on her wealth significantly through investing with money from her salary.
Her net worth is $30,000 (and climbing).
What is The Missionary Sex Position?
By 30, Sue is still paying off her student loans.
Sue has a net worth of $7,000.
The gap in these numbers would be even more egregious.
Below, find four suggestions anyone can take to start building wealth that can be passed downnow.
Join groups and communities that are focused on sharing practical financial education, and dig in!
(Hint, its my organizations.)
…
Not to mention, research shows the gender pay gapoften diminishes when employers adopt transparent pay practices.
This means there is power in being open about money.
Take small steps that lead to larger ones
The best way to work toward closing the generational wealth gap?
Start right now; dont delay!
…
Got it, you’ve been added to our email list.
