This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Use the odds and volatility in your favor
If you didn’t know, African Americans are way behind on the financial spectrum. Our wealth has essentially flatlined in comparison to white wealth. The graph below is a traumatic site.
Context: The Racial Wealth Gap
Just over 150 years ago, half of the dollars in circulation had pictures of enslaved people picking cotton on them. Slaves represented wealth in America and were worth over 3 billion dollars by 1863. Thankfully a lot of change has occurred since then, and many racial barriers have been broken, but many barriers are still present.
The racial wealth gap measures white household wealth and black household wealth.
The median white household wealth is $171,000. The median black household is $17,600. Furthermore, the gap between the two races continues to grow exponentially. – Source, Explained, 2018
As time continues, the racial wealth gap expands for black individuals and other minorities. Furthermore, the distance between the upper and lower class continues to move at an uncomfortable and accelerated pace. The middle class is slowly disappearing.
What Black Americans Need to Do From Here
Though African-Americans are far behind many other races financially, we can take beneficial action that will keep us in the race.
Educate yourself.
Create multiple passive income sources.
Maintain consistent income.
Invest diversely (REITs, real estate, private equity, stocks, bonds, etc.)
Real Estate
6. Explore cryptocurrency
As you build your investment portfolio, it is critical to allocate at least 1–5% (depending on your risk tolerance) of your portfolio to cryptocurrency.
The returns on cryptocurrency are astronomical since the market is so volatile, but don’t focus on this. Get into cryptocurrency to build long-term wealth.
Buy and hold.
Or buy and hold a crypto asset for a specific duration that will return you a considerable investment that you can invest in another cryptocurrency, as my mentor recommends.
Most importantly, do your research to know which crypto assets to invest in instead of making decisions based on hearsay. The intelligent investor consistently outperforms the masses.
Disclaimer: Only invest money you’re willing to lose in cryptocurrency since it’s a volatile asset.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.