7 in 10 middle class kids will be WORST than their PARENTS is because their PARENTS are NOT TEACHING THEM what to do. Insurance. invest 100 bucks a month into lending club, stocks, your WORK 401k.
I worked at H&R block black folks/poor folks/many folks GOT $4000-$9000 refund checks every YEAR when they made under 30k a year with multiple kids. What would happen I would see them next year with NO money, a NEW car from last year from about to be repo status, and can’t wait for the next refund check.
MARRIAGE is important most black folks getting married right out of college can save money by working together, paying off their joint debt, and that’s why you see the $350,000 as the top 1% because they bought a higher value house and working to pay it off.
That study is BS because the number was $335,000 if a truck driver making 80k and save/invest 10k-20k a year in 10 years they would have 100k-200k in investments. Already putting them ahead of millions of Americans.
Over 2.6 million black owned firms out there, if they all hired 1 black person EACH it would bring the numbers down. Julio and Hector when they come to america they will get a pickup truck with a lawnmover and KNOCK doors until they have cash. Then they put that money in a home and later insurance that’s why they are MOVING up and getting Hispanic banks. I am from the Carolinas where you can find HOUSES for 20k-50k and all you need is a $1000 dollar down payment and FOLKS still can’t get it together.
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