It does not matter where you go in America chances are the majority of folks will be broke. A recent survey revealed that the average single Black female had a net worth of $5 (five dollars.) My interest in the net worth of individuals sharpened when someone I won’t identify was having lunch with me and upon hearing my desire to invest in a property in North Carolina pulled out his checkbook and loaned me the down payment of $20,000.00 on the spot without blinking an eye. Of course I paid him back in six months, but I continue to be impressed that someone was that liquid financially.

Langston Hughes in his poem “DREAMS” tell us to: Hold onto dreams, for if dreams die life is like a broken-winged bird that cannot fly. Debra and I have a dream to leave each of our six children at least one million dollars when we die or to have given them at least one million dollars each before we die. Couples can give each of their children $40,000.00 a year without tax consequences. 

We teach our children by personal example to live beneath their means. If you earn one dollar live like you earn fifty cent. Too many people in their efforts to keep up with the Joneses live far above their means. In the United States wealth is highly concentrated in the hands of a very few people. According to a 2007 survey, the top 1% of households the (upper class) owned 34% of the privately held wealth and the next class 19% consisting of the managerial professional and small business group had 50.5%. This correlates to 20% of people owned 85% of the wealth in America. The other 15% was held by the wage and salary workers. 

The truth of the matter is the current folks in Washington consider anyone who makes more than $200,000 a year as an individual or $250,000 as a household to be rich. An annual household income of $250,000 places you in the top 3% of households in America. This income is four times the national median. 

Figures on inheritance tell us that only 1.6% of Americans inherit $100,000 or more. Another 1.1% receives $50,000 to $100,000. So 91.9% of Americans do not receive inheritance. So how will we accomplish our dream to leave our children financially secure for life? It is very simple. How do we lose weight? You eat less and exercise more. You burn more calories than you consume. How do you get rich? You spend less than you earn. You make more than you spend. It is as simple as that.

So my friends when you see us driving an old car, shopping at the Dollar Tree, Goodwill and Wal Mart, you can just say there goes a couple who is determined to make their children rich!