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.
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
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
Connect with Delina and Erika:
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