Graves say that African Americans are “driving in reverse” in their quest for the proverbial American Dream. In 1984, white Americans had a net worth 12 times that of our community; Today, he says, that ratio is 20 to 1.
What does that mean in dollars? Graves breaks it down.
“The typical black household has roughly $5,700 in wealth compared with about $113,000 for the typical white household,” said Graves, son of Black Enterprise founder Earl Graves, Sr. “Moreover, more than a third of our households have zero or negative net worth versus about 15% for whites.”
In our May 4, 2012, show--featuring special guest, BlackEnterprise.com Executive Editor Alfred Edmond--we look at Graves’ statistics and others and converse about the many reasons so many black Americans still are not saving more than they spend and building generational wealth in 2012.
The Poe Show is a new, syndicated talk show currently broadcasted to Atlanta and Houston markets. You can reach show producer, Dion Rabouin, for show advertising and monthly on-location, live-broadcast and event sponsorship information at 404-444-2955.