The Racial Wealth Gap in America: Asset Types Held by Race

[dora_da_destroyer]

I agree with this reasoning. I do wonder if their progress might be blunted by lower marriage rates/increased divorce rates. Marriage and families are the bedrock of any society and help preserve of wealth.

divorce rates have decreased, likely a result of people getting married later

 

[phcitywarrior]

divorce rates have decreased, likely a result of people getting married later

Yea, my bad I still think it's some 40% of marriages end in divorce. Regardless, not ideal.

 

[MJ Truth]

Our Own love saying having "too much money is you being a devil worshiper"






Or you want to be a white person



But no one can tell me what's the dollar amount on what too much money is

Oh, that's easy. "Too much money" is just you having more money than the person criticizing.

 

[JetFueledThoughts]

Since when is a car that depreciates in value considered an assets?
One reason why most people are broke is because of their car smh. My homie paying 650 a month on his car trying to stunt, when he could have got a cheaper car for half and invested the other. Also outside of all the systematic stuff, they never mention the other side to building wealth is your financial Iq. We all know americans suck with money. If this lady believes a car is a asset lol, then this explains why a lot of people will always be broke smh.

You’re confusing a car that you OWN and a car that you’re paying a note on.

The car that you OWN is an asset. Even if it’s depreciating constantly. It’s literally called a Depreciating ASSET.

You’re homie can’t sell his car because he doesn’t own it. The bank owns it and he pays it down. That’s a liability. I own an Infiniti that is over 10 years old. It’s always depreciating, but I OWN it and can sell it if I please, it’s an asset.

 

[Insensitive]

The fastest way to wealth is through entrepreneurship. We need more of them

That's not a realistic avenue for the vast majority of people.
This is why they need to learn about investing and putting money into
the stock market/roth ira's/401k's and buying real estate.

99% of people will not be fabulously wealthy or head
fortune 500 companies. But the vast majority can invest and see returns
on those investments within their lifetime.

 

[Professor Emeritus]

Yea, my bad I still think it's some 40% of marriages end in divorce. Regardless, not ideal.

40% was the peak, it's more like 30% now.

Still not ideal of course but the divorce rate is always exaggerated.

That's not a realistic avenue for the vast majority of people.
This is why they need to learn about investing and putting money into
the stock market/roth ira's/401l's and buying real estate.

99% of people will not be fabulously wealthy or head
fortune 500 companies. But the vast majority can invest and see returns
on those investments within their lifetime.

You seem not to understand that a huge % if not the majority of the Black community is too deep in debt with too little in terms of flexible assets to even think about this shyt right now. They need to clear high-interest debts long before they can dream of putting money into stock market and real estate.

And I'm a HUGE fan of increasing the # of people who property ownership in the Black community. But if done irresponsibly it leads to more debt, foreclosure, and even fewer assets.

 

[Deflatedhoopdreams]

You’re confusing a car that you OWN and a car that you’re paying a note on.

The car that you OWN is an asset. Even if it’s depreciating constantly. It’s literally called a Depreciating ASSET.

You’re homie can’t sell his car because he doesn’t own it. The bank owns it and he pays it down. That’s a liability. I own an Infiniti that is over 10 years old. It’s always depreciating, but I OWN it and can sell it if I please, it’s an asset.

Thank you for clarifying this for people.