Episode 45: Exploring the Racial Wealth Gap with Delina and Erika of Broke-ish
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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?
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
Become an author and start selling eBooks with the Make Money with Ebooks course.
Sign up for Digit and get $5 towards your next saving goal!
Danielle Desir Corbett paid off $63,000 of student loan debt in 4 years, bought a house at 27, and has traveled to 27 countries, including her favorites, Iceland, China, and Bermuda. Go here to learn Danielle’s incredible story, from struggling financially and in debt to finding creative ways to earn more and live on her terms. Listen to The Thought Card Podcast, where Danielle shares how you can creatively travel more and build wealth regardless of your current financial situation. Reach out to Danielle by contacting: thethoughtcard (at) gmail (dot) com.
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