It’s no secret that the communities of color have been behind their counterparts in creating and keeping wealth to pass down throughout the generations.

The Harvard Gazette stated, “Income is unequal, but wealth is even more unequal,” said Alexandra Killewald, professor of sociology in the Faculty of Art and Sciences, who studies inequality in the contemporary U.S.

“You can think of income as water flowing into your bathtub, whereas wealth is like the water that’s sitting in the bathtub,” she said. “If you have wealth, it can protect you if you lose your job or your house. Wealth is distinctive because it can be used as a cushion, and it can be directly passed down across generations,” providing families more choices and greater opportunity in the present and the future.

Most scholars agree that the legacy of slavery and other subsequent forms of legal discrimination against African Americans have hindered their ability to accumulate wealth. “Today’s African American adults and children are living with the legacy of discrimination, inequality, and exclusion, from slavery to redlining and other discriminatory practices,” said Killewald. “And white Americans are benefiting from legacies of advantage.”

The typical white American family has roughly 10 times as much wealth as the typical African American family and the typical Latino family. While the median white household has about $100,000-$200,000 net worth, Blacks and Latinos have $10,000-$20,000 net worth. Depending on the year or how it’s measured, those numbers may change, as shown by a report by the Pew Research Center, but the wealth racial gap has continued for decades. “It’s a staggeringly large number,” said Killewald.

While this topic has more attention lately, most can agree that genuine change starts with minority families understanding wealth and legacy.

Stacy Tucker, STATE FARM ^® INSURANCE AGENT and Carolyn Vines Sapla, Attorney, as well as a Real Estate Agent with HomeSmart Real Estate, will have an event to help people understand how to plant seeds of a legacy! This will be an open discussion and interactive workshop to discuss how to leave a legacy.

Register to attend this FREE event HERE !

Event Info:

Seeds Of A Legacy

Monday, February 21, 2022 , 11:00 AM – 1:00 PM EST

Jirani Coffeehouse

9425 West Street

Manassas, VA 20110