Episode 45: Exploring the Racial Wealth Gap with Delina and Erika of Broke-ish

Estimated Reading Time: 2 minutes

Listen on Apple Podcasts | Google Podcasts | Spotify | Sticher

In this episode we’re joined by Delina and Erika, the co-hosts of Broke-ish, a podcast which discusses how systems, laws and policies which specifically target black folks have kept us from building wealth and achieving the ‘American dream’. Broke-ish explores the duality of being Black in America and shares all the unbelievable ‘ish’ that America has done to hold Black people back. In this episode we chat about the importance of calculating your net worth and the shocking truth about the racial wealth gap in America.

As of 2019, here are the shocking facts:

  • Median household wealth for Black families = $1,700
  • Median household wealth for White families = $116,000
  • The median black family is estimated to have $0 in wealth by the year 2053

Introducing Millennial Wealth Builders, a 12-part audio docuseries highlighting Women of Color building wealth. Expect new episodes the first of the month.

In this episode we cover:

  • How to calculate your net worth
  • Why net worth is a key indicator for building wealth
  • Ways to define middle class
    • Money (economic resources)
    • Milestones (education, career, etc.)
    • Mama’nem (culture, social access, etc.)
  • Why income isn’t enough to classify yourself as middle class
  • What is the racial wealth gap in America (or the racial wealth divide)?
  • Ways we can become more involved and advocate for policy changes

Resources Mentioned

How the Racial Wealth Divide is Hollowing Out America’s Middle Class

Broke-ish: Are You Middle Class?

Equal Pay Day Observances

WOC (Women of Color) Podcasters Community

Connect with Delina and Erika:

Website: http://brokeish.com

Facebook: @brokeishpodcast

Instagram: @brokeishpodcast

Twitter: @broke_ish

If you enjoyed this episode listen to these next:

Building Wealth and Moving Abroad with Damien Peters

Leaving a Legacy Behind with Acquania Escarne

Passive Income Streams with Denis O’Brien

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