Black Wealth and History

So one of the things that we're going to talk about today is, you know, people, I saw a story today, Richard, about how the average American's 401k has been booming since Donald Trump has come into office.

And yet, and still there is a significant discussion around the loss of black wealth in the past 2 to 3 years.

So there is this.

Notion that for those of us who do have 401ks who do have investments that they've been doing.

Fairly well, perhaps not as well as the tech class.

But still, from that perspective, they've been doing well.

But there's also a big problem with this.

Because even as your investments that you're not touching may be doing a little bit better, you're also having to spend the money that you get immediately a lot more.

And it's not going as far as it used to.

There are a lot of different videos.

Speaking of stuff on social, if you want to see some good videos, go to Richard's page because he's been talking about this for a while in many of his videos about why everything feels so expensive.

And so the money that we're getting and the paychecks, the paychecks aren't going up, but the cost of things...

And this bears significant relevance in terms of the 25 percent dip in black wealth per family that we've seen over the past two to three years.

Two years.

And we're not making this data up, Charles.

This data comes from the Federal Reserve, where they show the median net income.

The median net worth of the black household

has

declined by 25% falling.

And these numbers are already bad.

So let's just put it here.

The black economic household wealth numbers, they're behind Hispanics, behind Asian-Americans, AAPI Americans, behind white Americans.

And so it fell from roughly $49,000 in 2022 to $36,000 in 2025.

And African-Americans already have the least amount of wealth when it comes to racial groups.

And now we're seeing this wealth plummet.