The Wealth Game

 Why Aren’t More Blacks In The Wealth Game?

African Generated Billions via:

• sugar
• flour
• textiles
• real estate
• oil
• gas

infrastructure-related pursuits:

🔑gold mining

🔑agriculture

🔑telecommunications ownership

Africans provide incentives to government leaders to improve the quality of their governments, and the treatment of their people across the entire continent.

African American Generated Billions via:

🔑Entertainment (sports, music, media)

• Then Investments 

“...some of the wealth gap appears to be attributable to differences in saving behavior. Understanding how people save--in particular, knowing whether certain people will be more vulnerable financially because of their saving choices--helps policymakers assess older Americans' financial preparedness for retirement and anticipate their economic well-being thereafter.” - SSA.Gov 

MAIN CAUSES OF WEALTH GAPS:

Lower Income| #Break This Curse

Poor Health | #Reverse This Curse 

Small Inheritances | #Change This narrative 

*intergenerational transfers*

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🔑Real Estate (land) ownership

🔑Business Equity 

All Relate Down To

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🔑Savings Behavior

Economists suggest that differences in #savings behavior and rates of return on assets may be more important than ***intergenerational transfers*** in explaining the wealth gap.

Only a few studies have addressed how #savingbehavior might affect the accumulation of wealth. The Panel Study of Income Dynamics, reported that a large part of the racial difference in wealth accumulation can be attributed to differences in ***permanent income*** and ***portfolio composition***. 

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In an examination of ***wealth accumulation*** patterns in the first two waves of the Health and Retirement Study (HRS), found that minority groups have lower rates of:

🔑asset accumulation

🔑saving behavior. 

***WEALTH DETERMINATION FACTORS***:

🔐 Networth 

🔐 Pension Wealth 

🔐 Social Security Wealth

🔐 Housing Equity

🔐 Financial Assets

🔐 Stocks | Bonds | Savings

Understanding how people ***save***--in particular, knowing whether certain people are more vulnerable financially because of their saving choices--helps ->policymakers<-assess older Americans' ***financial preparedness*** for retirement and anticipate their ***economic well-being***thereafter -> 

Research on how people save is needed to help gauge the economic security of future, and prevent inequalities in wealth from being perpetuated.