What I Believe It Takes To Close The Black Wealth Gap
While white America can continue their slow jog towards wealth and prosperity, Black America has to be in a full sprint.
November 13, 2020 at 2:51 am
In April 2016, there was an article in Fortune magazine that stated, “if Black America does nothing, it will take 228 years for them to achieve the same wealth that white America currently has.”
What a staggering statistic, right? Keep in mind that white America accumulates wealth at a rate three times higher than Black America. This fact keeps Black America in a perpetual chase of shrinking the wealth gap. However, I believe we can commence shrinking the wealth gap in half that time, understanding that we are trying to erase a 400-year head start.
As the CEO and Founder of SunShine Real Estate Investment LLC, I see every day that it takes foresight, financial education and action to build generational wealth. Through investment in ourselves and in our community, we can create our very own springboard to propel us forward in the economic sphere we hope to reach. While white America can continue their slow jog towards wealth and prosperity, Black America has to be in a full sprint. I truly believe we can get there, but it will take a concerted effort by all, as well as an effort to change the mindsets of generations.
What will it take to get there? The way we get there is a multi-step and multi-generational process.