The $2,200 Savings Crisis Facing Black America: Jobs, Wealth & Homeownership with Dr. Wes Bellamy

Black America is facing a financial crisis that goes far beyond income. Dr. Wes Bellamy joins Anthony O’Neal to unpack the troubling data surrounding Black unemployment, education, savings, earnings and homeownership.

With the median savings for Black men sitting at just $2,200, one emergency could wipe out everything. Anthony and Dr. Bellamy discuss why Black men and women need each other financially, what is driving young Black men away from education and employment, and how discipline, strategy and ownership can create a different future.

They also confront the online narratives discouraging homeownership and explain why protecting assets, increasing earning power and building together are essential to creating financial freedom for the next generation.

Download and read Dr. Wes Bellamy’s report:

The Economic State of Black Men and Boys in the United States

KEY POINTS

00:00 Introduction

03:07 The Unemployment, Education and Financial Statistics That Alarmed Him Most

06:56 Why Black Men and Women Must Work Together to Build Financially Stable Households

08:56 Why $2,200 in Median Savings Is Not Enough to Survive a Real Emergency

13:40 The Declining Presence of Black Men in Higher Education and Why College Still Matters

19:50 Where Young Black Men Are Going When They Are Disconnected From College, Trades and Work