Kevin Hart: There is a Financial Literacy and Knowledge gap in the Black Community

[Born2BKing]

Yeah no shyt kevin That's by design most of the shyt we need to know we have to search for it... they dont teach us the shyt in grade school or high school

 

[Uitomy]

I feel well be seeing a lot more of this kinda side of Kevin post his shyt with the Oscars. I hope he really felt that shyt and really understands he's gotta keep himself at an important inflection amongst his own people.

 

[MR. SNIFLES]

So what you're say is....if it becomes common sense and every person over age of 18 becomes financially literate, the system itself will collapse?

So we need stupid people to keep the facade running, correct? Just educate everyone about finances, and everything collapses.

IN ORDER FOR SOME TO WIN, A LOT HAVE TO LOSE.

 

[ORDER_66]

do they???

 

[Wild self]

IN ORDER FOR SOME TO WIN, A LOT HAVE TO LOSE.

So if everyone played their cards right, the system collapses, correct?

If the same "A LOT" of people rebelled by the hundreds of millions, there would be no system left.

 

[Blessings]

Most important part young black professional usually financially help out their parents. As opposed to non-blacks who have their college tuition, weddings, and down payments on first property taken care of

 

[CopiousX]

Lack of Black wages and wealth matter 1000 times more than Black financial literacy.

Can't really financial literacy your way out of low wages

The Black financial literacy discourse whether on purpose not distorts the real issue and that is the multi generational financial damage that has been done to Black Americans for decades

I disagree.

In the long term, i dont think this necessarily holds true when you consider compounding interest. I lived in the hood-hood as a kid and honestly, i remember our family spending a good $100 per month on weekend brunches or lunches at the best fine dining establishments found in college park,Ga like ihop, kfc, and churches chicken.




Over the working life of my parents (40yrs), even if they didn't change their occupation (or even get promoted within their mediocre jobs like most folks do as they grow older). ; that $100 per month placed into a well rounded basket of stocks, earning no more than 5% per year wouldve net them $150,000 by their retirement.


Now keep in mind that the final 150k number would be much higher if you factored in increased wages with experience or stability. So I personally say that a well managed life over a long stretch of time could stabalize a bunch of black people. Of course structural reparations are deserved and needed; but we can still be proactive. It takes time, but in just 2-generations a person can mitigate the financial damage of WS themselves. The nxt generation does thevsame thing the parents did, but now they can receive an inheritance. Now compare that previous example to older black people aging with no retirement, having to rely on relatives for something they couldve planned for in youth.

 

[BaileyPark31]

Nah. This is just excuse making. What financial literacy and knowledge is being kept from us today in the 21st century? You can go on Youtube right now and learn about finances, buy books at Amazon, and take online courses on the net. People just lack interest in actually learning. Too much instant gratification in our community . Until that's overcome, nothing of substance will change in the black community for the better collectively.

You don't know what you don't know.