Anti-Racism: The Generational Wealth Gap

Let’s talk about wealth and why it’s important to put money into the hands of POC. Now before I go tell you to shop at Black-Owned Businesses or businesses owned by people of color I want to give you a little history and context on why that’s so important to the movement. We all know, especially in America, money is power. Money pushes, politicians, policy, and supports communities. And people of color have been fighting for wealth while being oppressed from building it. It’s built into the system and lives strong still today. But in order to understand the present, we have to better understand the past. 

In this entry, I want to specifically speak to the generational wealth gap between white and black Americans. Efforts by black Americans to build wealth can be traced through American history. These efforts have been stopped dead in their tracks in many ways. Let me outline a few; 246 years of slavery, mismanagement of the Freedman’s Savings Bank, the massacre of Tulsa in 1921, the Jim Crow “Black Codes” strictly limiting opportunity in many southern states, the GI bill, the New Deal’s Fair Labor Standards Act’s exemption of domestic agricultural and service occupations, and redlining - to name a few. It’s clear that when one system of economic oppression collapsed, new ones were created to fill the void. I urge you to get familiar with these histories.

If you’re wondering why this history is so important to understand, take this into consideration. Black Americans have had less opportunity over the course of decades to accumulate savings and wealth to pass down to their kin compared to white Americans. Inheritances passed down from generation to generation make up a huge amount of the current wealth in America. In 2020 alone Americans are projected to inherit about $765 billion, much of which goes untaxed by the U.S. government. (Source)

Wealth is a direct network to better education, access, exposure, travel, and opportunity in general. The reality is this: Black Americans and POC are not afforded the same opportunities as white people to pass down wealth nor have they had the same amount of time to create wealth to pass down. Wealth was taken from these communities before it had the opportunity to grow. 

Ok, history lesson over. Honestly, I could go on for hours. But, I’m here to help you navigate these conversations with your families and children, not to educate you on the black history you didn't get in school. That’s your work to do.

So, here are the golden nuggets I’m sharing. 

1. Educate yourself on black & brown history. Challenge the stereotypes and ideas you may have had about black people in America acquiring and maintaining wealth.

2. Make sure you add these lessons to your children's history teachings whether they're taught at school or not.

3. Create a safe place for your children to ask questions and challenge stereotypes.

4. Ask them how they feel about what they’re learning. 

5. Lead by example, put money directly in the hands of black-owned businesses, show your children what conscious purchasing looks like. Supporting black businesses also means supporting black communities. These communities often house spaces for cultural hubs which may in turn provide programs and resources that the community needs. By strengthening black businesses, you can help to strengthen their community. 

If you’re wondering how to find businesses owned by POC in your community, my first answer would be Google it! There are so many great lists and apps out there right now to find the answer in your community. My second answer is to continue reading because you know after all of this information I have my own list of favorites!

*Liam wearing “ROAR!” Lion Pullover from Yinibini Baby

*Norah wearing “ROAR!” Newborn Baby Gown by Yinibini Baby

BIPOC brands & businesses I’m supporting 

Beauty 

Klur, Elements of Comfort Body Oil
Alima, Pure Natural Definition Eye Liner (I use the color coffee)
EleVen by Venus Williams, Unrivaled Sun Serum (I love how this wears under my make up)
Nola Skinsentials, Porefect Toner

Kids 

Harperiman, Handmade Dolls (currently waiting to get my hands on one for Norah)
Yinibini, Handmade baby clothing
Darlyng & Co, Body Wash & Teething Bibs
Little Play Society

Home & Decor

Clare, Wall Paint. I just ordered some swatches of flat iron, neutral territory and turbinado for our garage conversion!
Jungalow, Justina Blakeney Pillows (Liam and Norah will be getting these for Christmas)
Estelle, Amber Glass Colored Decanter (a need for my bathroom tray)

And there you have it! Comment below your top BIPOC brands & businesses that you love to support in your community.

<3 BJS