Rev. Dr. Judith C. Lovell’s Post

Addressing the Racial Investment Gap in The Economy Technology has made the world a global village where people meet and transact business virtually while leveraging social media. Social media has its benefits, but it also creates societal pressure where people, especially Black Americans, want to keep up appearances to fit in. This leads to an extravagant lifestyle, which is funded mainly by debts. A third of Black Americans (33 percent) report having more debt than is manageable (jointcenter.org). Accumulated debts, on the other hand, limit the ability of Black Americans to save and invest from their disposable income, thereby widening the racial wealth gap. Only about four in 10 Black Americans could cover three months of expenses with their current savings, and only a quarter of Black Americans (25 percent) express a great deal of confidence that they could handle an unexpected expense of $1,000 ( Joint Center For Political and Economic Studies). The urge to impress and access to credit cards make it easy for most Black Americans to indulge in spontaneous shopping because of "discounted sales. " This lack of delayed gratification makes it difficult for them to plan for long-term goals like retirement and housing. Black workers aged 51 to 64 were less likely to have a retirement account; when they do have one, the median balance is lower than that of White adults across all income levels.(U.S. Government Accountability Report). We need to start emphasizing the need for delayed gratification in the Black community to close the racial investment gap. Here are three tips for savings according to diversityq.com: 1. Savings should always have a purpose. Even if you are saving for the short-term – perhaps to create an emergency fund to give you a financial cushion and security 2 Consider the scenarios where you must access your savings, which will dictate where to keep them. 3. When saving and investing, there comes a point where speaking to a financial advisor can be extremely helpful. #economicempowerment #blackempowerment #generationalwealth #equality #companyculture #employeeengagement #leadership #humanresources #employeewellness #workculture #hr #workplacewellbeing #employeeexperience

Looking forward to reading this.🤓📚 Question: Today, some White people in the US argue that they are being discriminated against by workplace diversity programs, affirmative action and other policies meant to address the legacy of racism. Given your reporting, do these feelings surprise you? I don’t think it reflects reality. I also think the way that we usually talk about race in this country makes that a really predictable response. Take the G.I. Bill (a post-World War II law that gave returning veterans free college, job training and other benefits). We created this benefit, that in practice, was only intended for White people. Maybe a few people of color were going to be able to access it and it was written as if it was colorblind, but everybody understood it was going to be implemented in a way that would benefit White people and nobody else. But we talk about benefits like that as if it is a natural right for an American to have. Veterans in 1945 receive books and notebooks — as well as tuition and other fees — under the GI Bill of Rights. Though the bill was neutral in its language, it often excluded Black servicemembers in practice. White people today do not understand — because this history has been hidden from them by previous generations — that somebody in their family got something because they were White. Historically, the US has been a lot more honest about the fact that they are denying things to people because they are Black. But the inverse of that is also true. If you’re denying something to one group of people because of their skin color, you’re also by default giving it to the other group. White people do not have tools for that. This is the sort of stuff that, if we were teaching accurate history, would be part of the US history curriculum and it’s not. #curriculummatters #UShistory

❗️ As we start to close out Black History Month, we know it is important to highlight the reality that rates of financial hardship differ significantly between white and Black families. 🏠 A staggering 56% of Black households do not earn enough to make ends meet compared to 36% of white households. 💸 Addressing racial discrimination is not only crucial in addressing social and economic injustice, but it is taking a step toward pulling all people out of economic hardship in a meaningful way. Read more: https://lnkd.in/eWhgPBjm #blackhistorymonth #liveunited #yorkcountysc

𝗘𝗺𝗯𝗿𝗮𝗰𝗶𝗻𝗴 𝗛𝗶𝘀𝘁𝗼𝗿𝘆, 𝗖𝗲𝗹𝗲𝗯𝗿𝗮𝘁𝗶𝗻𝗴 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀! Today marks a significant, relatively new federal holiday: Juneteenth, which is now recognized as a federal holiday. It's a time to reflect on the journey from past injustices to a future of equity and inclusion. "In this day of instant news, it is a tragedy that slavery continued in Texas for another two and a half years after Abraham Lincoln Proclaimed Emancipation," reflecting the prolonged struggle for freedom that ended with Gordon Granger's arrival in Galveston, Texas. As we observe Juneteenth, moving beyond wishing a happy Juneteenth is essential. Instead, be an ally to the Black community. Here are four meaningful ways you can make a real impact: 1. Educate Yourself: Learn about Black history and ask questions, but remember that it's not the responsibility of people of color to educate you. Juneteenth was traditionally celebrated only privately among the community and became a federal holiday after a media frenzy erupted from a rash of incidents. Despite diminishing financial support for DEI (diversity, equity, and inclusion), we can keep the progress moving. 2. Buy from Black-Owned Retailers: Support Black-owned businesses using directories such as byblack.us and blackwomanowned.co. 3. Invest in Underrepresented Entrepreneurs: Make direct investments into VC funds committed to inclusive access to capital, like Ally Capital Collab. 4. Seek Out Diverse Storytellers: Consume and share diverse media to uplift BIPOC voices, supporting platforms like Wocstar Media. (source: Gayle Jennings O'Byrne) Recognizing and celebrating this historic day highlights the pressing issues of inequality and the lack of diversity. Your role in advocating for equity and embracing diversity can drive positive change in your community. Happy Juneteenth! #Juneteenth #Equity #Inclusion #Diversity  #JonathanFrank

Goeiedag: The lack of prosperity among Black Americans is a multifaceted issue shaped by historical, social, and economic factors. Key elements include: 1. **Historical Context**: The legacy of slavery, segregation, and systemic racism has created enduring disparities. Policies like redlining and discriminatory lending practices have limited access to housing and wealth accumulation. 2. **Education**: Disparities in educational resources and opportunities contribute to unequal outcomes. Schools in predominantly Black neighborhoods often receive less funding, leading to lower quality education. 3. **Employment**: Black Americans frequently face discrimination in hiring and promotions. The job market can also exhibit wage gaps and limited access to high-paying jobs. 4. **Healthcare Access**: Disparities in healthcare access and outcomes can affect overall prosperity. Limited access to quality healthcare impacts economic stability and productivity. 5. **Systemic Barriers**: Structural inequalities in the criminal justice system, voting rights, and access to capital contribute to ongoing challenges in achieving economic success. 6. **Community Support**: Building wealth often requires community resources and networks. Historical disenfranchisement has weakened these community supports. Addressing these issues requires a concerted effort across various sectors, including policy reform, community initiatives, and educational equity, to create a more just and equitable society. But why is our moral compass so high when it comes to dealing with one another? #thestyledoctor #therebirthofthegentlemen #blackmanlivingabroad #Yo #mypeace #fypシviralシ2024

YOU MUST KNOW BETTER IF YOU WANT TO DO BETTER. ❤️ https://lnkd.in/g2Y-xhmK Today, some White people in the US argue that they are being discriminated against by workplace diversity programs, affirmative action and other policies meant to address the legacy of racism. Given your reporting, do these feelings surprise you? "I don’t think it reflects reality. I also think the way that we usually talk about race in this country makes that a really predictable response. Take the G.I. Bill (a post-World War II law that gave returning veterans free college, job training and other benefits). We created this benefit, that in practice, was only intended for White people. Maybe a few people of color were going to be able to access it and it was written as if it was colorblind, but everybody understood it was going to be implemented in a way that would benefit White people and nobody else. But we talk about benefits like that as if it is a natural right for an American to have. White people today do not understand — because this history has been hidden from them by previous generations — that somebody in their family got something because they were White. Historically, the US has been a lot more honest about the fact that they are denying things to people because they are Black. But the inverse of that is also true. If you’re denying something to one group of people because of their skin color, you’re also by default giving it to the other group. White people do not have tools for that. This is the sort of stuff that, if we were teaching accurate history, would be part of the US history curriculum and it’s not."

Imagine a $43 Trillion Economy 🚀: Closing Racial Wealth Gaps Could Have Added $16 Trillion to Last Year’s GDP! Has hate hindered our potential? Black economic inequality has the potential to unlock as much as $1 trillion per year in domestic U.S. economic growth, according to a new study by the Black Economic Alliance Foundation. The 29-page "architecture for action" zeroes in on key cornerstones of economic advancement that include housing, real estate, health care, education, criminal justice, business and labor markets. Had those gaps been eliminated two decades ago, last year's nominal GDP of $27 trillion would have been $43 trillion, the foundation adds. The study "offers needle-moving interventions to address the unique barriers to economic opportunity facing Black Americans," Samantha Tweedy, CEO of the Black Economic Alliance Foundation. By the Numbers - We have all seen the studies and numbers about the impact of closing the racial wealth gaps and how DEI can help create better societies in addition to its impacts on social determinants of health. Understanding the motivations and drivers are critical components for wanting the status quo to remain. Samantha Katz Mike Green Gillian Marcelle, PhD Shari Dunn Richard Venegar Emily O. Weltman, M. Ed. Kimberly Bryant Joe Cardillo Rendel Solomon Kwame Jackson #RacialEquality #EconomicReform

Tomorrow is Juneteenth. Ahead of the holiday, we spoke with journalists Ebony Reed and Louise Story about their new book, Fifteen Cents on the Dollar: How Americans Made the Black-White Wealth Gap. "..the more people learn the statistic and understand that a typical Black family has 15 cents in wealth for every $1 a typical white family has, it will shape and impact conversations that people are having in their communities about affordable housing, about student-loan debt, about education, about so many things," Reed told us. Read our full conversation about what organizational leaders should do to address the shocking gap in wealth between Black and white Americans:

“White” people care more about hating than supporting our own best interest. I believe in this article’s findings and message with all my heart. But what I also believe is that we “white” folks, in the aggregate, have a sick love affair with “white” supremacy. We will go against our own best interest, as long as Black folks are harmed. We did this with pools, schools, police murderers (more “white” people are killed by police, numbers-wise, but higher % of Black people), universal health insurance, etc. We will continue to harm ourselves as long as we hurt Black people more (or we perceive we will). We have all seen the statistics proving that diverse groupings in business brings higher profits. I am not trying to be the soothsayer of doom, but “white” folk’s need to be racist is destroying our nation’s opportunities and I don’t see us stopping, even if it adds a trillion to the GDP. We have a “white” person problem in our nation and it’s ruining everything. Just my take…

Sharing a thought-provoking article highlighting the ongoing challenge of the racial wealth gap in the United States. This piece from McKinsey not only explores the burden this gap places on Black Americans but also on the overall economy. The research provides valuable insights into the impact of closing this gap and pinpoints key sources of this socioeconomic inequity. Dive into the findings here: [https://lnkd.in/eA6FBze]