Black people can't build wealth because of this – Dr Boyce Watkins

Black people can’t build wealth because of this – Dr Boyce Watkins

What is a capital market? It’s a marketplace where investors are matched up with those who need capital for their business ventures. Banks provide much of this market by allowing savers to deposit their funds, which are then loaned out to those seeking funding for businesses, real estate, etc.

The challenge for black people is that our capital market is highly imbalanced. While millions of black people need access to capital for our businesses and real estate endeavors, there aren’t enough black investors to fulfill those needs.

This deficiency could be reduced significantly by raising our children to think like investors, which means that when they have extra money in their pockets, they would rather invest that money than to spend it on worthless consumer items.

Every time you see a rapper brag about spending $300,000 on a car or piece of jewelry, remember three things: 1) That was black wealth given away to another community, 2) That money could have been used to fund black-owned businesses, schools or real estate and 3) These resources could have been protected and grown to provide long-term financial security for his children and grandchildren.

Sincerely,
Dr Boyce Watkins
BoyceWatkins.com

Black people can’t build wealth because of this – Dr Boyce Watkins

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The Black Financial Channel is a news and business channel designed specifically for the African American community. We give daily financial updates on stock markets, investing and other related topics that appear in financial news.

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