More than 40% of Black Households make less than $35K a year

[MasterOfAllHeSurveyz]

Excuse City. Their motto: Always open and willing to accept new tenants.

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I've got 20 old ass iPhone 6/6S, with cracked screens, I've almost finished repairing. The biggest cost was the heating pad that had a 20% discount at the time of its regular price of $75 (It's going for $90 on Amazon right now) and about another $40 dollars in tools. I use a web-based snipping program to win auctions on eBay for broken phones/tablets (I get the max discount of 15% being a member for years i.e. $38 for 400 successful snipes). The most important things that I look for is iCloud unlocked but fully functioning devices before adding the auction to my snipper tool. I won't bid more than a certain price level depending on the device.

For example, I pay about anywhere from $14 to $25 for a screen replacement for an iPhone 6/6s/6s+ and sell it on eBay from anywhere from $90 to $115. I've never paid more than $28 for an iPhone 6/6s and avoid auctions with ridiculous shipping costs. I might have to replace the battery every blue moon if the original is shyt which is around $8. I "eat" the shipping cost (which is a few dollars) because people love free shipping. It's already included in my profit calculation. It's rare that I've ever had to repair/replace anything outside of the screen, battery or rear facing camera.

Where did I learn how to repair the devices? A $2k course? At the local community college? Nope. I learned everything right on YouTube University for $FREE.

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Before you excuse-mongers pull out your pitchforks. my cousin has Down Syndrome. He saw me fixing another cousin's phone and simply asked if he could learn to do it.

This fool done fukked around and made almost $94k in profit last year from over $220k phones sold between eBay and Facebook Marketplace. I didn't expect him to turn this into a full-on business. He still works his landscaping job and does this in his off time. So, are you telling me that a 38-year-old black male, with DS, who lives alone, has more grind that you as an able-bodied black male without any mental deficits?

He's ever faster at repairing them shyts than me.

 

[Swirv]

Something like 62 percent of women having abortions have at least an associated degree

Where are you getting this stat from? The cdc doesn’t record anything about education or income.

 

[Houston911]

Where are you getting this stat from? The cdc doesn’t record anything about education or income.

 

[Swirv]

View attachment 32514

Thanks for posting. However, almost half of all US abortions are had by low income women. These women have also attended some college or have an associate’s degree. I would’ve posted the stat, but it’s from 2009-2014, courtesy of Guttmacher institute.

So broke and well off women are having almost a 1 to 1 ratio of abortions.

 

[Scaaar]

The reason it’s designed for black people to lose is because we refuse to play the game.

At the very least get a life insurance policy that pays out to your trust as the beneficiary so your family can eat when your gone.

It's crazy how our people are still out here without life insurance. I tell people That's the quickest way to build generational wealth is to leave something behind and knowledge for those that remain. This chic I talked to that was heavy on that building generational wealth but didn't have any life insurance. She didn't have kids so she felt that it was unnecessary to pay for it. That's hustling backwards in my book

 

[Scaaar]

I agree that's very important but how you get a life insurance policy when you can't even cover the basics? That doesn't make a lot of sense with all due respect.

Most life insurance policies are 50-75 dollars a month. It is a required bill. You can cut back on eating out once a month to cover this essential bill.

 

[Scaaar]

I don’t make excuses for nobody, You don’t live in reality, most people out here working they ass off to be broke, black people at the bottom because of the system not because people don’t have life insurance policies

At some point we have to stop blaming the system for your situation. The system has been in place for hundreds of yrs now. We've all known it. Our parents and grandparents too. So are you just going to sit there and keep blaming the system or go get make something for yourself? You gotta go get it. Sitting around whining doesn't help anyone out.

 

[Serious]

All the bootstrappers I know got good paid careers. The self defeatist are broke with no solutions.

Who should I listen to in this scenario ?

@DEAD7

 

[Scaaar]

We also quick to move out at 18. I'm letting my kids stay as long as possible. Will buy a damn RV if need be, the struggle is REAL out here. You working 2 warehouse jobs or shacking up with a broad to pay that $1300 rent.




Here's the major flaw in your argument. Every black person today that's worked hard has become financially successful. The black folks who went to HBUs? Successful. The black folks who got into IT? Successful.

 

[Scaaar]

We also quick to move out at 18. I'm letting my kids stay as long as possible. Will buy a damn RV if need be, the struggle is REAL out here. You working 2 warehouse jobs or shacking up with a broad to pay that $1300 rent.




Here's the major flaw in your argument. Every black person today that's worked hard has become financially successful. The black folks who went to HBUs? Successful. The black folks who got into IT? Successful.

Breh it gets frustrating hearing our people make all these excuses about their situation but they didn't put the necessary work in. Now they're blaming everyone except the person in the mirror. It's even worse in this new generation. I've never seen a more entitled but unmotivated group of people. People are literally sitting around waiting on a handout. When have they ever given us anything without strings attached? If you want a certain lifestyle you gotta make it happen

 

[BigMoneyGrip]

Not good at all smh

 

[Scaaar]

STEM
Military
Athletic Skill to get a free college education or better...

Those are the options but a lot of us aren't provided the insight to take advantage of presented opportunities.....

I know alot of breh preach anti military on here but it literally was the best thing that happened to me. I did my 6 and got out. I traded my body in exchange for a skill That's paying me 6 figures in the civilian world. I got a home loan for under 3 percent. My college was paid for. And I get Va benefits so it's a guaranteed check for life. It's a path out of poverty if people take advantage of it properly.

 

[Tair]

All the successful people I know acknowledge they had outside help & actual support. Who am I going to listen to? nikka in the house who thinks he different from nikkas in the field? No citations, no study, just vibes. probably got all his facts on black people from the internet. 50% or maybe even more of people by the next decade, might below a good standard living. If we focus our effort on actually fighting the system, then trying to accomdate to it, lay our heads in the sand "saying we'll just hustle out of it', we could change a lot and help more people. Tell a lady who working 2 jobs with 2 kids, just hustle. she would hit u.

I agree with you.

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While education does not appear to be the great equalizer, it could be argued, alternatively, that hard work can close the wealth gap. Since blacks face a higher unemployment rate than whites at every level of education (Jones and Schmitt, 2014), the difference in wealth ultimately could be due to the difference in employment status. If that were the case, we would observe similar levels of wealth for blacks and whites with similar employment statuses.

But Figure 2 contradicts such an expectation. As one would expect, the median household wealth is higher for employed families than for unemployed families in both races. However,

white households with an employed head have more than ten times higher wealth than similar black households. Furthermore, white households with an unemployed head have a higher net worth than black households with a head who is working full time

In addition, higher levels of household income are not associated with significant reductions in the racial wealth gap. Figure 3 shows how black families have much lower wealth than white families even when they have comparable earnings. In particular, black households in the lowest 20 percent of the income distribution essentially have zero net worth, while the poorest white families have on average $15,000 - $18,000 in net worth. Even belonging to the highest quintile does not make black families as wealthy as whites: their median wealth is approximately half of that of white families in the same income quintile.​

What We Get Wrong About Closing the Racial Wealth Gap - The Samuel DuBois Cook Center on Social Equity at Duke University

The racial wealth gap in America is both striking and durable. It is neither inexplicable that the gap exists, given the history of the country, nor surprising that it persists, given the nature of wealth. As the authors note in this report: "[W]ealth begets more wealth. Higher levels of wealth...

socialequity.duke.edu

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[Scaaar]

I never said it was a bootstraps issue. In fact I said it was still a problem even though 60% lived above 35k. Then I asked what you going to do? What's the plan?

Most blacks in poverty are simply falling into the cycle they've seen from their old heads and around their neighborhood. And so on back to slavery. That's a generational issue that still hasn't been broken. Any idiot should be able to see that. Ok what's the solution? Sit around and bytch about it? Or do what WE can to fix what we know is wrong? Fixing the things we can for the young ones coming up. We got to be the ones to try and break that cycle.

They always run or deflect when we tell them it's time to stop complaining. I grew up with 7 other siblings. My grandma raised me and we were poor. I knew as a kid I didn't want to live like this and I didn't want alot of kids or raise my kids like that so I went and paved a way so it didn't happen. It's not bootstraps it's all about choices. You choose your stuggle in this day and age.

 

[Scaaar]

Idk breh, I drive a 2001 Lexus. It's given me problems, but the bytch runs. Coli likes to make it seem like old used cars are terrible but I think 95% of the guys here don't know shyt about cars and couldn't even change a tire.

If you need new, there's plenty of new cars for $25k and less

I just bought me a new car since my old one engine died on me and I didn't want to invest the money into it. I just copped something for 27k. I could have bought something in the 60-70 range comfortably but I like that extra money for the flexibility. I just need it to get me from point A to B. It's all about choices I could stunt, but why waste money and live check to check trying to prove to broke people that I'm not broke?