OF COURSE, AMERICA’S BLACK-WEALTH GAP IS GETTING WORSE! THE GOVERNMENT CAN NOT FIX THIS PROBLEM!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
Below is a bleak article on the black-wealth gap stating: “The author finds that policies that marry reparations with ones targeting portfolio composition changes could one day lead to a convergence in White and Black wealth, but it could take hundreds of years.” You read that right, HUNDREDS of years.

NOT CLOSING THE BLACK-WHITE WEALTH GAP:
- Critical Race Theory taught in schools
- More blacks in positions of political power, {The U.S. President and VP, numerous prominent city mayors, including Chicago, New York, DC, Atlanta, etc. The list of cities led by black mayors is only surpassed by their growing murder rates.}
- Black Lives Matter – I support the slogan Black Lives Matter, NOT the organizations. I believe ALL LIVES MATTER! What exactly have BLM organizations done for black America? Not a damn thing. The leaders of both corrupt, unethical organizations have spent $ millions on their homes and, in one case, the baby daddy’s home. BLM organizations are a disgrace.
- Continuation of blaming, whining, and doing nothing for self.
- Waiting for some form of reparations. You might as well wait for the lottery winnings. And like the majority of lottery winners, without financial literacy, you will be broke again.
I strongly agree with one statement in the below article: “The failure of the Black and White wealth gap to narrow since the 1980s can largely be attributed to the types of assets that make up each group’s holdings. Black households hold nearly two-thirds of their wealth in housing and very little of it in stocks, while White Americans own shares of publicly traded companies in much greater numbers. In the past 70 years, stocks have appreciated five times as much as housing prices.”
Why America’s Black-White wealth gap is getting worse
HTTPS://FORTUNE.COM/2022/06/07/WHY-AMERICA-BLACK-WHITE-WEALTH-GAP-IS-GETTING-WORSE/
“The gap between the wealth of Black and White Americans, one of the starkest benchmarks of inequality in the US, is on track to widen substantially after the pandemic exacerbated wealth concentration, according to new data that details 160 years of racial wealth disparities for the first time.
Black Americans in 2019 had one-sixth the wealth of White Americans on a per capita basis, according to an analysis in a paper this month from economists Ellora Derenoncourt, Chi Hyun Kim, Moritz Kuhn and Moritz Schularick. Though that’s a drastic improvement from the 60-to-one ratio in 1860 on the eve of the Civil War, it’s still less than what they had in the 1980s.
“The recent role of capital gains in the widening of the racial wealth gap paints a sobering picture for the future of racial wealth convergence,” the authors wrote in the paper, circulated by the National Bureau of Economic Research.
“In the absence of policy interventions or other forces leading to improvements in the relative wealth-accumulating conditions of Black Americans, wealth convergence is not only a distant scenario, but an impossible one,” they said.
The pandemic saw wealth concentration reach its highest level since World War II, Derenoncourt, from Princeton University; and Kim, Kuhn and Schularick, of the University of Bonn in Germany, said.
Should current wealth-accumulating conditions continue for coming generations, they estimate the level of White-to-Black wealth could reach 8.4 by 2200 from around 5.6 in 2019. In that year, Black wealth stood at $60,125.58 compared to $338,092.80 for non-Black households.
The failure of the Black and White wealth gap to narrow since the 1980s can in large part be attributed to the types of assets that make up each group’s holdings. Black households hold nearly two-thirds of their wealth in housing and very little of it in stocks, while White Americans own shares of publicly traded companies in much greater numbers. In the past 70 years, stocks have appreciated five times as much as housing prices.
“Even under equal conditions for wealth accumulation after slavery, in other words, identical savings rates and capital gains across the two groups, our convergence model portends a racial wealth gap of 3 to 1 today,” they wrote.
The author finds that policies that marry reparations with ones targeting portfolio composition changes could one day lead to a convergence in White and Black wealth, but it could take hundreds of years.
“Nevertheless, we argue these approaches are complementary, as policies that redistribute stocks of wealth without addressing racial gaps in savings and capital gains have but a transient effect on the wealth gap,” they wrote.“
MY JOURNEY TO INVESTING IN THE STOCK MARKET
When I graduated from college, I was aware of one investment tool, a bank’s saving account, and a certificate of deposit. I had zero knowledge of Stocks, Bonds, Gold (I was clueless you could invest in precious metals), mutual funds, etc. How did I learn? When I started my career, I deliberately sat at the tables with my white and Asian-American peers, at lunch. I was surrounded by people already in management positions I aspired to one day be in. And people who had a significantly greater net worth than I. I listened to what they had to share. I also learned a valuable lesson. If you ask people to help you learn, the majority will happily assist you. I listened and researched what I heard and closed my financial literacy gaps.

FINANCIAL SECURITY PRIVILEGE IS COLORBLIND!

As a nation, we need to talk about the harsh realities shared below:
BLACK CHILDREN BORN TO A SINGLE MOM IN THE U.S. ARE STATISTICALLY AT A DISADVANTAGED.





One of the biggest threats to our country today is the destruction in the black community of the two-parent family structure and the weakening of religious morals and practices.

CONCLUSION – OF COURSE, AMERICA’S BLACK-WEALTH GAP IS GETTING WORSE! THE GOVERNMENT CAN NOT FIX THIS PROBLEM! ONLY YOU CAN!
Hundreds of years to close the black-white wealth gap? Translation- We will never close this gap based on our current path. Based on past performance and current trends, this is likely true.
BUT……..

I started writing WealthBuildingPowers.com so more people can build their financial literacy/knowledge and start investing in more than their homes. Some of my readers have done exactly that. The choice is YOURS. Not the author of the above article or I. It is 100% YOURS.
Warren Buffett advises the best way for the average American to invest in the stock market is to buy an S&P 500 ETF. He has instructed his estate to place his wife’s inheritance 100% in an S&P 500 ETF. He is backing up his words! Below are a few additional blogs on investing in the S&P 500.
Make your CHOICE!

Closing the gaps by individually increasing our financial literacy.
- Set ambitious goals. Do you want to own 25 rental properties? Set that as your goal, and do NOT fear your bodacious ambitions. Make it 100 properties and several apartment buildings!
- Start investing in the stock market using an S&P 500 ETF
- Find good mentors and role models who have achieved their ambitious goals. LEARN FROM YOUR ROLE MODELS. If you do not know them, follow them on Linked in, read their books, articles, etc.
- Create a path to achieve your ambitious goals
- JUST DO IT!
- STOP WAITING FOR SOMEONE TO FIX YOU!

Success is about the strength of your character, not your skin color. Success depends on who you are, what you prioritize, and the relentless pursuit of excellence.
We all can reach our potential through a willingness to work hard.
WHAT SUBJECTS DO YOU WANT TO READ MORE ABOUT? WHAT QUESTIONS CAN I ANSWER? UNTIL NEXT TIME!

LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED!

YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’S WHAT YOU GIVE! – SOME CHARITIES I SUPPORT
St Jude Hospital: https://www.stjude.org/
Wounded Warrior Project: https://www.woundedwarriorproject.org
Folds of Honor: https://foldsofhonor.org
Wilson’s No-Kill Animal Shelter: https://wcnkas.org
TRUST ME – YOU WILL LIKE THE BELOW BLOGS!
NEW SERIES – CRITICAL THINKING
KEEP IT SIMPLE – THE S&P 500 ETF
. https://wealthbuildingpowers.com/2020/01/27/keep-it-simple-stupid-kiss-the-sp-500-etf-index/
IT’S TIME TO INVEST IN EQUITIES – THE S&P 500 ETF
WARREN BUFFETT UTILIZED COMPOUND INTEREST TO BECOME THE 3RD RICHEST MAN ON THE PLANET!
FRUGALITY IS A BLESSING – TRUST ME!
WHITE PRIVILEGE OR FINANCIAL SECURITY PRIVILEGE
https://wealthbuildingpowers.com/2022/06/06/white-privilege-or-financial-security-privilege/
FORGET WHITE RECKONING TO ADDRESS RACIAL INEQUALITY – WE NEED GOOD ECONOMIC POLICY!
BUILDING FINANCIAL FREEDOM/LEGACY TEN DOLLARS AT A TIME!
BUILDING FINANCIAL FREEDOM/LEGACY TEN DOLLARS AT A TIME!
FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!
https://wealthbuildingpowers.com/2019/04/01/financial-literacy-is-just-not-that-complicated-trust-me/
INVESTING IN STOCKS IS COLOR BLIND – WHAT IS STOPPING YOU?
INVESTING IN STOCKS IS COLOR BLIND – WHAT IS STOPPING YOU?
WARREN BUFFETT’S NET WORTH IS DRIVEN BY THESE IRONCLAD TEN REULES
Warren Buffett Says This 1 Simple Habit Separates Successful People From Everyone Else http://flip.it/_AzPx9
To Join Wealth Building Powers BLOG:

PLEASE SIGN UP TO FOLLOW ME BY PROVIDING YOUR E-MAIL IN THE WORDPRESS BLOG PAGE SUBSCRIBE BOX!
Thank you to my followers and readers for your likes and comments. All comments, recommendations, and feedback are welcomed and utilized to improve this blog.
ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, and real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.