NAACP Launches Roadmap to Build Black Generational Wealth

0:00A U R N News. The end of LACP is launching a national campaign to help black families move forward from earning money to only assets and eventually passing those assets to the next generation. Its new roadmap to generational wealth covers nine areas, including credit, savings, investing, home ownership, career advancement, retirement and estate planning. The campaign addresses a divide that a higher salary alone cannot ease. According to the Federal Reserve's latest survey on consumer finances, the typical white family held roughly 285,000 in New York, in 2022. For the typical black family, it was about 45,000. That gap reflects generations when black Americans were locked out of government-backed mortgages, higher paying jobs, business capital and other opportunities that helped families accumulate property and investments. In the LACP President, Eric Johnson, says the Trump administration has dismantled economic safeguards designed to help black families build and preserve wealth. For A U R N News, I'm Ebony McMorris.