Very true. I just got finished reading a book on passing down family wealth. He says that weak family structures is what causes bitter fights over inheritances.
I'm looking at my family and we are lacking in a number of these departments, even though we aren't rich...yet.
A lot of this is what is wrong in our community.
1. He says without a strong matriarch AT HOME tending to the children, you aren't likely to raise productive and emotionally healthy adults. The man should work, ideally. Someone HAS to stay at home.
- Most black children are being raised by 1 parent and that one parent doesn't have the time to pay attention to the diverse needs of the children as they grow.
2. Human Capital - "It is the matriarch who builds the family. She develops its human capital. This is the family's most valuable resource. A family with members who are capable of building and preserving wealth will always be able to rebuild if something goes wrong."
- We lack human capital as a race. We have to stop depending on government schools only to educate black kids, most urban schools do a poor job.
The education establishment isn't likely to equally educate black kids to eventually compete with white kids in the workplace.
3. Family Culture - a set of beliefs, a mission, a history, holidays, traditions and celebrations. Families need a common narrative about who they are, where they come from, and what they are doing.
- This goes back to what you were saying about our lacking a cultural bond. I had to go ask my father to tell me about our family history and he went
This is what we MUST CHANGE in our community.
4. Family Values - thrift, frugality, underconsumption, delayed gratification are necessary values to hold on to wealth.
- We lack all of the above in the black community. We don't want to be cheap. We want to buy Jordans and Jerseys.
5. Family Business, family hobbies, education goals, marriage standards, family motto and crest, family traditions and rituals, family properties, family investments, family constitution, fighting addictions and troublesome behavior, etc.
We lack everything and we don't even know it. The government WILL NOT help you gain any of the above. It must be a part of your CULTURE.