Real Estate

Here’s how Black Americans can begin building wealth right now


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When it comes to building wealth, many Black Americans are facing an uphill battle.

The median annual wage for Black workers is about 30% lower than that of white workers, according to a McKinsey & Company report. The report also found that 3.5 million of the country’s Black households have a negative net worth due to debt.

“Oftentimes, the issue with savings and wealth building is that folks don’t make enough money,” said report co-author Shelley Stewart III, who leads McKinsey’s research on Black economic mobility in the U.S.

“We need to address that as a broader society, typically with communities of color.”

In addition, Black households generally…


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