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We came across an article from Axios that touched on 10 racial wealth gap myths in America. They talked about how a popular notion that – even among some of us Black people – the wealth difference between white and Black Americans is due to lack of trying, among other factors.
According to FACTS, that is simply untrue. The arguments that education, family structure and home ownership, more money in Black-owned banks, more Black-owned businesses, and an increase in savings and investment would effectively close the gap, comes up extremely short.
When you look at the data, the analysis shows otherwise. Even if you control for those factors, the gap remains.
But It Also Doesn't Matter
Why? Because by 25, I was supposed to be in jail.
Growing up I heard the stat about 1/5 black men were in jail by the time they were 25 years old. When I turned 25, I specifically remember thinking, well I beat that stat. But honestly (excuse my language) but **** those stats. You and I are outliers and there are millions of people just like us, we are raising up a generation of outliers.
It is 100% true that the racial wealth gap requires systemic changes to accelerate the closure. But just because something would accelerate with systematic change does not mean that we, you and I, can not close our personal wealth gaps.
A lot of these reports group a whole race as a monolithic entity and then speaks to that entity. There is a wealth gap between rich white people and poor white people but the media and reporting agencies treat the groups as separate with strategies for each.
Here Is The Bottomline
Be the outlier. Just by you receiving this inbox is proof you are working to be the outlier. Our ancestors didn’t wait for systematic change for their freedom, rights, or anything else.
Why would it be any different now?
Learn the stats, avoid the mistakes and build wealth.
In 50 years, there will be a whole new set of stats showing the work you and I did. These reports are always looking backwards.
We are looking into your future, and it looks bright to us.
Close The Gap With Freeman Capital
Let’s stand together here and learn how to close the gap properly. Freeman Capital was built on this premise, to empower you and your financial future. If you have $1 or $1 million, we will get you on the right track to win.
Click Get Started to learn more.