J. R. Fenwick, author and CEO, FLip That Stock, Hold That Stock
Less than a month ago, an article was released stating by 2053, "Black households will have a median wealth of zero." In other words: half the population have less, the other half have more. Those people who have more are typically white people. If you don't see that as a problem, we probably shouldn't be friends. If you aren't willing to do anything about it, don't even acknowledge me when you see me in the streets. Word.
Wealth inequity is not a new phenomenon. Not only is it not new; the repercussions and consequences of failing to create generational wealth can impact your family for generations. Take a look at this timeline:
Photo Credit: Asset Building Policy Network
The image your are seeing above is vague and doesn't fully paint the picture of how community red-lining, gerrymandering, Jim Crow laws, the preschool to prison pipeline, mass incarceration, funneling crack cocaine into Black neighborhoods, the denial of veteran's benefits after Wold War II and various other oppressive acts against people of color have crippled our ability to ascertain wealth. White people have had a 300 year head start on obtaining wealth and our ability to catch up is fleeting.