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Last month we posted on whether black dollars make no sense, a short analysis on Black wealth in America. I came across recent press release that claims the wealth gap between Blacks and Whites has grown even larger in the last decade.

In a 10th anniversary edition of “Black Wealth/White Wealth: A New Perspective on Racial Inequality,” which includes two new chapters, the authors address the increase in racial wealth inequality in the past decade and some of the state and federal policies that have been launched to address it. The authors have concluded that the gap continues to be large and that recent financial sector actions and national policy have had a negative impact on the ability of blacks to accumulate wealth. Once again, their major finding is that despite a narrowing income gap, blacks continue to have significantly less wealth than whites.

“Right now, almost 80 percent of black kids begin their adult lives with no assets whatsoever. That’s not the case for white kids. If they don’t have financial resources in hand, they have access to them through their families. Most black kids don’t have that available to them.”

-Melvin Oliver.

So what does this mean for us as Young Black Professionals? We make the income but do we have what it takes to build wealth. Wealth is what we will pass down to our children and grandchildren and, as far as financial security goes, wealth is more powerful than income. Closing the racial wealth gap is a major challenge and we are faced with the responsibility of making a difference. We must change the way we spend, save, and invest our money in order to build assets for ourselves and our families.
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Black History Trivia

Yesterday’s Answer: The Congressional Black Caucus was formed in 1970 when the 13 Black Members of the U.S. House of Representatives joined together to strengthen their efforts to address the legislative concerns of Black and minority citizens.

Who was the first African American actress to win an Academy Award?

“Offices are often the easiest places to meet and fall in love,” says one expert. Here’s how to keep your career and relationship intact.

Have you ever had a crush on a co-worker? Maybe even pushed your luck with that crush and found yourself in a hot and heavy office romance? I think many YBPs have had a “you don’t know my name” type of moment where we found ourselves distracted at work because of a cutie in the office.

SnagAJob.com, an employment agency for hourly workers, discovered in an online poll with 800 respondents across the land: 72% of men, and 60% of women, are infatuated with a co-worker. Most (64%) intend to keep it a secret. Interestingly, men are more likely than women to reveal their feelings. According to this survey: 34% of women say they might spill the beans, while 40% of men kiss and tell. Another survey suggests that “men may be the office flirts, but women tend to establish more meaningful relationships” with the opposite sex.

Falling in love – or even just fooling around – at work isn’t without its risks. “The important thing is to stay professional and keep romance in its place,” says Andrea Nierenberg, head of a consulting firm called the Nierenberg Group. She offers these three essential tips:

Don’t mix business and pleasure. “Save romancing for breaks or after hours. Next time you come up with a cute nickname or amorous thought to share with your sweetheart during the workday, write it down in a notebook and save it for later.” R-rated e-mails are always (no exceptions) a bad idea. Big Brother is watching.

Know your company’s policy on office romance. Some companies, for example, don’t allow one member of a couple to report to the other. Bear in mind that, as far as your employer is concerned, “your dream romance can turn into a nightmare harassment case. Be aware of the legal issues, and act appropriately.”

Keep cuddling out of the copy room. “People are rarely interested in watching their co-workers snuggle in the break room or fight between cubicles,” notes Nierenberg. How true. “Colleagues will be much more likely to respect your relationship if you show discretion in how you behave around them.” The key word here is discretion.

“Offices are often the easiest places to meet and fall in love,” Nierenberg says. “If you handle it carefully, you never know – yours might end up being one of the 22% of office romances that lead to marriage.” And if not, well, at least you’ll stay out of trouble.

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Black History Trivia

Yesterday’s answer: Guion Bluford was the first African-American male in space. Robert H. Lawrence Jr. became the first African-American astronaut on June 10, 1967, but he died before making it into space. Other notable African-Americans in the space program include Bernard A. Harris Jr., the first African-American to walk in space, and Mae C. Jamison, the first African-American woman in space.

In what year was the Congressional Black Caucus organized?


Happy Valentines Day! Whether you’re single, just dating, in a relationship, or married, I hope you take time out today to tell someone that you love them. Love is a beautiful thing, and when you feel love, you feel better.

Around this time many people are going out on first dates. Here’s an interesting article outlining first date signs that he’s a “keeper.” I think it’s on point for the most part, but I would add a few things:

  • He cares enough about his appearance and this date to look and smell nice.
  • He offers to pay for you (just as you “pump fake” for your wallet when the check comes.)
  • There are no “red flags,” i.e. he has to leave early, long suspicious breaks to the bathroom (is he on the phone or just struggling?), checking the time, answering his phone, sending text messages (so rude), or “forgot” his wallet at home.

Basically make sure that you are treated with respect on a date, even if it’s only the first date. Set standards and don’t settle for less. If he doesn’t meet your standards, throw up the deuces and move on to the next.

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Black History Trivia


Yesterday’s answer: Scholar and diplomat Ralph J. Bunche became, in 1950, the first African American to win a Nobel Peace Prize.

Who was the first African-American to travel into space?

A few weeks ago I posted on National Mentoring Month and the importance of becoming a mentor to offer friendship, guidance, and encouragement to a young person growing up. During today’s Superbowl, Lovie Smith and Tony Dungy will give a public service announcement about mentoring. In the spot, Smith and Dungy, both exemplary proof of how mentoring works, will urge more than 90 million viewers to consider becoming a Big Brother or Big Sister. The organization is reaching out to male mentors in particular because over 60% of current volunteers are women. More than 70% of children waiting for a Big are boys, but only three out of every ten inquiries to volunteer come from men. Research shows that having the positive influence of a Big Brother makes a real difference in the life of a boy. And with many young black males growing up without a father figure or an older brother, the need for black role models is even greater.

Recently, Alpha Phi Alpha Fraternity, Inc. committed to recruiting 10,000 male mentors for Big Brothers Big Sisters. Darryl Matthews, General President of Alpha Phi Alpha stated, “If we are going to stop the cycle of nihilism and give these young children appropriate role models, then we need men who are successful in their lives to go out and show them that there is another way.”

YBP males, it’s time to pay it forward and guide a young person just as you were guided. For volunteer opportunities, click here.

In her article Why Can’t Blacks Hold Onto A Dollar?” Kim E. Gordon takes a historical perspective and present-day analysis of Black wealth in America. The article deals with the fact that, while having attained unprecedented buying power equivalent to the 10th largest nation in the world, Black America remains mired in relative poverty compared with other groups and what might be done to change this situation.

“When we come home to our neighborhoods on payday, do we allow our money to pause and catch its breath in our communities? The Jewish dollar is said to circulate from seven to ten times throughout the Jewish community before it leaves. The Asian dollar makes the rounds in Asian neighborhoods about six times. But the Black dollar doesn’t even make it into the hands of a Black merchant or retailer. Is it any wonder these businesses go under so quickly?”

She has a point. But the article is not intended to criticize. It’s goal is to make us think about the financial choices we make and motivate us to make better dollar decisions.

Click here to read the entire story.

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