In 2019, white Americans had a median family wealth of $188,200, while Black Americans had a median family wealth of just $24,100.
Source: U.S. Federal Reserve
The term “generational wealth” refers to assets passed by one generation of a family to another. Those assets can include stocks, bonds, and other investments, as well as real estate and family businesses. In recent years generational wealth has become a focal point in discussions about the racial wealth gap and the increasing concentration of wealth in the U.S., because it plays a substantial role in both.
Generational Wealth Podcasts
Troy Millings and Rashad Bilal, co-founders of the “Earn Your Leisure” podcast, share their top tips for investing in our children and helping them build a brighter financial future.
Comedian, movie star, and black entrepreneur Kevin Hart speaks on the importance of sharing financial literacy with in the black community to elevate the next generation.