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

[LadyJ2]

These are good questions. Some people lack discipline

Median salary gap between white men and black men from ages 30-60 is $20,000 per year

View attachment 32513

Black people will have work harder and show more discipline than any other group if want these gaps to get smaller

Also note here that men tend to cap out income-wise in their 40s so saving for retirement or just saving in general becomes crucial in your 40s - that window gets real tight after that.

While it’s never too late to grow in a career/job and earn more money, starting a side business or hustle is crucial for men in their 30s and 40s if they are living paycheck to paycheck especially if they have kids.

Gotta get additional revenue streams popping but you can’t do that looking at ass on Instagram in your spare time. Unless you are making money off liking pics you are basically wasting critical time.

For women, get married and stay married unless he is crazy or abusive or gets another woman pregnant.

This is really the only solution here.

 

[Serious]

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.

Problem is cats who don't even want to leave their porch got all this mouth

 

[DEAD7]

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 ?

 

[Captain Crunch]

delete

 

[Scaaar]

Problem is cats who don't even want to leave their porch got all this mouth

Preciate it breh. I've been trying to put people on to my job for the last few years. I'm doing right now since it pays 6 figures and you don't need a degree. I didn't even know that. But it's depressing talking to young brehs and once I tell them that they'll have to leave home for the opportunity they disregard it and would rather work at a warehouse making $12-16 an hr doing back breaking work. It's a mindset that some people gotta break That's holding them back from a comfortable life.

 

[MoneyTron]

Easiest way to make money in America is to be born into a family with money.

Going further than the circumstances you were born into takes extreme effort and discipline, and luck too. I salute anyone that has done it.

As that fact relates to black people, I don’t see a way to collectively change the numbers in any significant manner. The opportunities are there on an individual basis though.

 

[richaveli83]

 

[richaveli83]

It's a good thing that people who can't afford children will be forced to have them?

He was being sarcastic, breh.

 

[xXOGLEGENDXx]

 

[TheKongoEmpire]

Add this to black people taking a demographic L.

Said it before and I'll say it again: the BC isn't worth saving.

Only gets worse with Roe vs Wade

How?

 

[Ezekiel 25:17]

Preciate it breh. I've been trying to put people on to my job for the last few years. I'm doing right now since it pays 6 figures and you don't need a degree. I didn't even know that. But it's depressing talking to young brehs and once I tell them that they'll have to leave home for the opportunity they disregard it and would rather work at a warehouse making $12-16 an hr doing back breaking work. It's a mindset that some people gotta break That's holding them back from a comfortable life.

What are you doing with no degree? My brother is doing ok, but he got a background

 

[Thanos]

I agree with you.

---

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

---

That PDF countered every argument made by anybody in this thread. ESP #8 talks shortly individual responsibility and acquiring "softness". #10 talking about family unit disorganization.

 

[Roger king]

If folks want to talk politics here which is a big factor then lets do it, one party is strictly against any form of benefits going directly or even indirectly to black people specifically. Biden and warnock worked together to pass a bill specifically for black farmers who had been bankrupt in debt and could lose their whole savings and homes relief, it was republicans who sue in federal courts and got right wing judges to block it.
Who is against child tax credits stuff that can alleviate the burden on single parents? The republicans.
Folks cant just afford to play idle and ignorant anymore, even down to the federal housing policy, giving minority better access etc its one party that usually fights against it and folks have to be honest and show candour on this issue

 

[Tair]

That PDF countered every argument made by anybody in this thread. ESP #8 talks shortly individual responsibility and acquiring "softness". #10 talking about family unit disorganization.

Yeah, a lot of these people in this thread are the types that like to hear themselves talk.

 

[UberEatsDriver]

I acknowledge that lack of information does affect opportunity, I'll add it under resources and outside help. Actual Support is a community of people, a team of people w/ resources, whether that is information or something tangible. Never heard the Uber thingy tho.

Probably not cause I used to be an Uber driver back in 2017 and that’s how I found out. And I know a lot of Uber drivers who could qualify but chose not to pursue it.