Recent Posts
No Partisan Politics Allowed in the IRS...
On Wednesday, Treasury Secretary Jack Lew demanded and received the resignation of acting...
States Say Yes to Gay Marriage, Will The Supreme Court?
On Monday the State of Minnesota became the 12th State in the U.S. to legalize same...
What's Really Going On, On the Hill?
Have you been out of the political loop for a minute? Or maybe it's not out the loop,...
Now I Ain’t Saying She A Gold Digger
Posted by: Junious Williams IV
Tags:
401K, budget, Gold Digger, IRA, Kanye West, Money, Personal Finance, single black female
Posted date:
March 16, 2012 |
No comment
March 16, 2012
Take a second to check through the table below:
|
Household Median Wealth |
|
| Married | |
| White |
$ 167,500.00 |
| Black |
$ 31,500.00 |
| Hispanic |
$ 18,000.00 |
| Single Women | |
| White |
$ 41,500.00 |
| Black |
$ 100.00 |
| Hispanic |
$ 120.00 |
| Single Men | |
| White |
$ 43,800.00 |
| Black |
$ 7,900.00 |
| Hispanic |
$ 9,730.00 |
Source: Insight Center for Community Economic Development, Lifting As We Climb: Women of Color, Wealth, and America’s Future, 2010
I was blown away last week when I read these statistics from the current Black Enterprise.
$100!!
That is unreal.
To clarify: $100 is the median net worth of the single black female in the United States of America.
In today’s America there is opportunity for anyone to get an education, get a job, and make money. My main question is “where is all of the money going?!” It’s safe to assume that the average single black woman does not own anything of value (cash in savings, home, IRA or 401K) and is saddled with debt (student loans, credit cards, and auto loans).
Black women already have it hard. Juggling careers, being a mom, and a wife can take its toll on anybody. But there has to be a way to do better. Maintaining a monthly written out budget, avoiding credit cards and debt, and investing in retirement is a good start for anyone to build wealth.
About the author
Junious Williams IV
Related Posts
The Wonderful 401(K)
By Junious Williams Graduated? Check. Get the job? Great! Now reap the benefits of a well-paying, hard-earned job, the 401(K). Although you’re...