How Black Middle-Class Kids Become Poor Adults

[Wild self]

It starts in the home. The majority of the Black middle-class parents are barely in the top 50%. They are the last generation of people with jobs that pay well and don't require a college degree, they are only in the middle class because their incomes are combined, and they don't have the networks needed to put their child ahead. Added to the fact, they will likely not push their child toward academic excellence, but instead mediocrity, the same mediocrity that will get the child through high school, and maybe a Communications degree in a state University, that will lead absolutely no where.
There are a massive number of pitfalls for the children, and they cannot always been supported by their parents if they come across financial hardship in their early 20s, and can't pay off student loans that they accrued trying to gain access to the middle class.

STEM majors are not a safety net, either. I know a girl with CERTs and a masters degree and she still working for less than 70k per year, while paying off crazy amounts of loans. Schools will only teach students to be good employees and nothing more. We need to be entrepreneurs with legal businesses that can turn a profit quickly.

 

[Box Cutta]

Another thing is that whether you live in a homeless shelter or baldwin hills...you're still subject to the same imprinting from the media, entertainment, culture as a whole....American culture is simply toxic to black people. Impressionable kids + constant propaganda = Bad results.

And than you add the fact that even middle class black families, still live in neighborhoods, or in neighborhoods with a close proximity, to poverty stricken areas...I've seen studies that show that the poverty rate for black children dwarfs the rate at which are children actually live in poor areas. Like...even if you're parents make money, you still might be living in "the hood". Redlining, housing discrimination, etc.

 

[CodeBlaMeVi]

right.....see blacks don't understand this...i work with young well off white kids...they have parents with six fig jobs that own multiple businesses that have millionaire friends........us black kids don't got shyt, only thing we inherit is debt

That's old money cacs got off from slavery. Do not let them tell you different. Only a few cacs are growing the economy. The rest is status quo.

 

[Amerikan Melanin]

Ok this is easy. Middle class may mean no college diploma, most likely your parents made it to middle class by working in some factory or union job for 20 yrs and making a good wage, most of those jobs are gone. Then lets talk about black people renting for their whole lives, leaving nothing to pass down to their families. Or taking out multiple mortgages on their homes leaving no value in it when they die. Last but not least not having a decent sized life insurance policy.

We as a people are behind on home ownership by decades due to foul practices by Amerikka before and especially after WWII for the GI's. This is where many white americans get a leg up on us. Their grandma finally dies and leaves them a paid off home and a nice life insurance check. Lets be modest and say the home is worth 250K and they get 50k in life insurance. That person can choose to rent the home, live there rent free and just pay property tax or sell it and do something meaningful with the money. Thats a head start in life!

Black person dies they leave a deficit most of the time.

This goes on generation after generation so that no matter how far you climb out the whole your seeds can easily fall back in it. Buy a home or at least own some sort of property or investment you can leave for the kids, get a life insurance policy and a will.

 

[BrothaZay]

Because even middle class black parents kiccc their kids out when they turn 18

 

[ADK]

shyts a bummer reading through this & it's hitting home. What advice would y'all give to me? I'll be 19 in Aug.

 

[StickStickly]

shyts a bummer reading through this & it's hitting home. What advice would y'all give to me? I'll be 19 in Aug.

2 years community college, 2 years state a school

As little loans as possible, don't go to school to party- learn everything you can, major in useful degrees (science, math, computer science, etc), have a financial plan early, get internships and experience early, don't over spend on anything. Save.

 

[Box Cutta]

shyts a bummer reading through this & it's hitting home. What advice would y'all give to me? I'll be 19 in Aug.

Go to a community college and get a degree that you both want and can get a job in. Live at home with your parents if you can.

Borrow as little student loan debt as possible unless you're planning on legit being a doctor (And are successful on the path towards that i.e. passing your chemistry classes).

 

[Scientific Playa]

When is the Pew Research Center going to do a study on white middle class suburban hipsters moving to the cities because they couldn't/can't afford to live where they were raised up? Or the amount of young white adults that tried the city but returned to the nest to live with their parent's? real talk, its happening in this downward spiraling economy.


Failure to Launch: Adult Children Moving Back Home
Alan Dunn , Contributor
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A recent survey shows that more adult children are returning home to live with their parents. This pattern has emerged in the past (almost always associated with economic downturns) and this time is no different. As the economy struggles, it becomes more difficult for young people to gain their independence.
http://www.forbes.com/sites/moneywi...re-to-launch-adult-children-moving-back-home/



Boomerang Generation
http://en.wikipedia.org/wiki/Boomerang_Generation

 

[JBoy]

to be fair a lot of the middle class in america is just broke motherfukkers who got a little bit luckier and were able to land in good paying jobs for a decent amount of time (sadly many of those jobs such as military contract work and other good paying blue collar jobs are gone by now due to the great recession and deindustrialization) my parents never taught me a whole lot about things like the job market or finances or post secondary education (despite being from fairly solid middle class backgrounds themselves) and I think that is a major factor in many of their kids failures

 

[The Nigerian]

Owning a business does what? I can start my own business tonight, will it be profitable? Will the profit be worth it? What will I do for health care?

Behold, the mind of a slave.

 

[WheresWallace]

I didn't read the article, but if the article doesn't talk about "MEAN OF PRODUCTION" being the cause, then the article is bullshiit. Making money means nothing if you don't produce or control production. That is how you can have money and your kids end up broke.

When black people OWN more and pass down what we OWN then there will be financial stability generation by generation.

 

[Street Knowledge]

Theres a lot of black children whose parents make what we would consider middle class wages but still live near or in poverty/violent crime neighborhoods

 

[RTF]

This "start a business" catch-all for success I see all the time here is irksome.

Multiple revenue streams is a must but "starting own business" as main source of income isn't for anybody. Working for the man isn't ideal but the whole package of a decent/good "job" can be worth a lot . Even just 80k + benefits (health care, life insurance, pension etc.) can help you achieve a lot. Once you got those multiple revenue streams popping (landlord, freelance work in your field, a hobby that can pay) that starts to look very healthy.
I know too many sole-traders hustling all day and night for decades being unable to acquire liquid assets long enough to make moves.

 

[3rdWorld]

You cant make it in the business and professional world on your own..Black kids are sent off into the wilderness to eek out a living by themselves. White kids have no troubles because by virtue of being white, the economy is built for them and works for them. They will get hired sooner than Black kids even if they have no qualifications and experience.