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Are Black women REALLY “flat out broke?”
Oprah Winfrey one of three Black women billionaires worldwide

Today I have good news and some not-so-good news that will make you re-evaluate every money decision you make.

The good news is there are currently 3 known African-American women billionaires in the world. Of course, Oprah Winfrey is one. The other two are Angolan investor Isabel Santos and Nigerian oil magnate and fashion mogul Folorunsho Alakija. That’s according to Forbes Billionaires list. Pretty cool huh?

The not so good news is this: the median net worth for many Black women in America, according to a recent report from the Survey of Consumer Finances, is a dismal $100. A $100 net worth??? WTH!

Dr. Maya Rockeymoore, President of the Center for Global Policy Solutions conducted this study on the issue of Black women and wealth.  She summarized her findings by saying “black women are flat broke.”  Here’s a snippet of her interview on NewsOne NOW. 

 Ouch.  That really hurts.

As a result of a low net-worth, Black women do not have a legacy to pass on to their children. As you may know, wealth in America is mainly acquired through inheritance but we typically have little or nothing to pass down. 

The article goes on to reveal that many black women are vulnerable because they only have one source of income. If downsizing or illness occurs then what?

<<Shaking my head>>

Can you understand now why the OverFlow team is so passionate about changing your mindset around money and equipping you with the tools to turn this sad situation around? It doesn’t have to be this way. Our children deserve to have something to build on after we pass on. We should never EVER worry about money.

The change starts when we make better decisions about what’s more important. So what is most important when it comes to how you leverage your money?

Saving regularly or buying a new 60 inch TV for christmas?

Adding new income streams to your arsenal or adding more handbags?

Investing in a will and trust or investing in a new sew-in?

Listen, play time is over. This $100 dollar net worth madness stops now. Abundance is your birthright. Do your children and yourself a favor and connect with your OverFlow Coach today.  They have the exact tools you need to help you not fit into these tragic statistics.

Tomorrow is not promised and this issue cannot wait. The goal is to help you build a legacy of wealth for your family NOW so 2016 can truly be your year of more than enough.  So what are your thoughts, feelings or solutions on this issue? Please share below.

 

 

 

 

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality, a Money, Lifestyle & Influence Expert and a certified coach.  Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she specializes in transforming the way women leaders create wealth, happiness and success.  Visit her website at www.MoniqueCaradine.com  

 

3 Responses to “Are Black women REALLY “flat out broke?””

  1. This article is shameful but inspirational at the same time. Yes it’s definitely (past) time for us Black women to step up our game in the business world!

  2. adminmonique says:

    Thanks Wanda!

  3. Karla Rowe says:

    Wow,sad statistic but this should be this is the sort of inspiration to give me the courage to do something about it now! You need a mentor & Ms Monique seems like the real deal! Im a 50 year old grandmother & mother & worry about how to build generational wealth. Im a statistic, for now…

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