Worse yet, we live in a society that taxes you the more you earn. Financial Assets - Against the odds, Black Americans have made great progress in the above two items, but have been slow to get on board in acquiring financial assets. Financial assets is the one denominator that generates wealth faster than any other. Its the easiest of the three to participate in immediately. Its the one category that can lead to the acquisition of the other two.
Financial assets are stocks, bonds, mutual funds etc.
Historically, Blacks have been discriminated against in unbelievable proportions by being denied housing in the 40s and 50s when the government initiated the biggest push for home ownership in history. Research shows that from the early 30s to the late 70s the government initiated a massive program for renters to become homeowners. It s documented that it became easier to own a home than to rent an apartment. This was one of the first strikes against blacks that had a persisting negative effect on black economics lasting even until today. This has led to a cumulative disadvantage for blacks generation after generation.