What exactly is GENERATIONAL WEALTH?

[Kuwka_Atcha_Ratcha]

What white people got because of racism.

And what a lot of ados/ fba blacks

don't have cause we been locked out of wealth since we were brought here

Not just ados but majority of black people due to slavery

 

[O³ (O cubed)]

Generational wealth means that your kids or grandkids can eat.

Here's an example my grandfather (would have been 101) built a house in Trinidad but the piece of land it sits on belongs to another family. Every year the family who own the land gets money. They haven't returned to the land in years but the owners Great Great Grandchildren still benefit.

The house itself has gone from my grandparents to my aunts who have children and grandchildren. Saving them tens of thousands in rent or mortgage payments.

 

[Cel 510 kid ados forever]

Not just ados but majority of black people due to slavery

True

 

[Barnett114]

... yet you’re not clear as to what “generational wealth” is...


























@Barnett114 is this Reggie’s alt???

Nah

 

[FeverPitch2]

I think your thread actually highlights the issue. The average white family in this country has had wealth passed down to them in the form of inheritance, a house, a business, etc. That and other forms of privileges granted to them off their skin tone is what keeps them afloat and ahead. But because many black families only recently(within the last couple of generations) were in position to have a profitable business to pass down, a house they could pass down, inheritance, etc, the average black family doesn’t have that advantage. There are many black families where generation after generation are growing up in some of the same projects—generational poverty. Imagine how much of a game changer it would be if these families were able to pass down a house to kids, a long standing family business, and other forms of wealth including monetary forms like inheritance, trust, etc, how much it could offset the cycles of poverty.

The issue is that many of us that are even in a financial position where we could participate, we are saddled with debts, and burdens from our families. White kids getting houses passed to them, family companies, and inheritance, in addition to getting financial help from parents, helps them maintain and do better. A lot of us have nothing to fall back on, to give us an advantage, remove some of our financial burden or give us extra income.

and what’s fukked up? Our ancestors built this country, generated profit and income for slave owners(which white slave owner families and generations thereafter benefited from) and we didn’t get any of it. when we were finally freed, we were still denied opportunities and limited in every area that would’ve given us the ability to build for our families. In addition to racism, and oppression, not having wealth to pass down to families is one of the reasons that many black children aren’t able to do better than their parents.

after the Civil Rights Movement, we started having thangs
they put a stop to that shyt pronto
Reagan rode in on his horse and got to work
They became so obsessed with nikkas not having shyt that it's killing the millennial cacs today as a by product

 

[CarmelBarbie]

after the Civil Rights Movement, we started having thangs
they put a stop to that shyt pronto
Reagan rode in on his horse and got to work
They became so obsessed with nikkas not having shyt that it's killing the millennial cacs today as a by product

at every step they’ve interfered with our ability to even get halfway on their level. Yes there are many of us doing well, but collectively we are not. It’s predicted that in 2050 black wealth will be at 0. Think about how crazy that is, that even as we are finally progressing our future shows no sign of it.

 

[Secure Da Bag]

Not just ados but majority of black people due to slavery

That's an interesting dynamic. Between how ADOS was shut out from wealth, Africans were shut out, and CDOS were shut out. We should start a thread on it but I don't see it going well.

 

[TruStyle]

If you gotta ask.....

 

[TL15]

Yeah, but what money does a poor person have that can be saved and passed down?

Which is why I'm looking at generational wealth as a class (income) topic because unless we're talking about six/seven figure groups of people, I don't see poorer lower income individuals doing the same thing.

that’s the point... poor people don’t have generational wealth to pass on

 

[CreepyMcCreeperson]

I’ll add property to money. A lot of black people don’t have property that can be sold or rented out once parents die, or be a home for a child to live in once the parents downsize.

And a simple thing we can do to get easy money is have insurance policies for our children in case something happens to us.

Children out of wedlock is another factor. Far too often the mother has to get a job to support herself and the kid, and never gets an education or trade. Or, just gets on public assistance, and doesn’t set a good example, then the kid either gets pregnant young, or the boy gets a girl pregnant young, and the cycle continues.

But we have GMB here, and brehs don’t want to work to build anything with a partner.

 

[Sauce Dab]

I think your thread actually highlights the issue. The average white family in this country has had wealth passed down to them in the form of inheritance, a house, a business, etc. That and other forms of privileges granted to them off their skin tone is what keeps them afloat and ahead. But because many black families only recently(within the last couple of generations) were in position to have a profitable business to pass down, a house they could pass down, inheritance, etc, the average black family doesn’t have that advantage. There are many black families where generation after generation are growing up in some of the same projects—generational poverty. Imagine how much of a game changer it would be if these families were able to pass down a house to kids, a long standing family business, and other forms of wealth including monetary forms like inheritance, trust, etc, how much it could offset the cycles of poverty.

The issue is that many of us that are even in a financial position where we could participate, we are saddled with debts, and burdens from our families. White kids getting houses passed to them, family companies, and inheritance, in addition to getting financial help from parents, helps them maintain and do better. A lot of us have nothing to fall back on, to give us an advantage, remove some of our financial burden or give us extra income.

and what’s fukked up? Our ancestors built this country, generated profit and income for slave owners(which white slave owner families and generations thereafter benefited from) and we didn’t get any of it. when we were finally freed, we were still denied opportunities and limited in every area that would’ve given us the ability to build for our families. In addition to racism, and oppression, not having wealth to pass down to families is one of the reasons that many black children aren’t able to do better than their parents.

Cacs also finessed by being 5 dollar Indians

 

[OfTheCross]

I'm full of imagination but looking at the realities...

You do the math.

Your question is indeed pretty stupid.

and yes poor people can participate in it if they are knowledgeable to do so...

for example...I was a bank teller in a low-income area. yet a good number of people had Life Insurance payments being debited from their accounts monthly...

so, they were broke, sometimes the payments overdrafted them...but when they died their loved one would have 100K - 500K.

others didn't have that...

 

[Supreme365]

No it's not simple dumbass...

Unless we're talking about a specific class of people in terms of income... what wealth does a poor low income, low wage or a person on services have to pass down in the first place?

What exact wealth is there to pass down if there isn't any?

that’s just it a poor person can’t pass down generational wealth, because they have no wealth. It’s not that complex.

 

[Ezekiel 25:17]

The coli likes to pretend everybody poor and struggling thanks to the man. There's so many tools out there to help you get out the dirt. Now will you make it to the top? That's strictly up to you.

You want to know poor move to Mexico making $2/hr

 

[alpo]

after the Civil Rights Movement, we started having thangs
they put a stop to that shyt pronto
Reagan rode in on his horse and got to work
They became so obsessed with nikkas not having shyt that it's killing the millennial cacs today as a by product

That not true