William R. Patterson on SiriusXM Radio 169 - The Power
Black America Is on an Economic Titanic. Will You Survive?
1-in-4 Black households lives in poverty
Over 29% of Black households have no assets or negative net worth
Personal bankruptcies are at all-time high
39% of Black and Hispanic households will not have enough for retirement
In 2004 (most recent data), the median wealth of black households was just one-tenth that of white households at $11,800 compared to $118,300.
The income gap between Black and white households in widening. The median income of Black households dropped from 63.5% of the earnings of their white counterparts in 2000 to 62% in 2004 (most recent data).
Home ownership rates lag considerably behind whites: 72.7% for whites in 2005 (most recent data) compared to just 48.2% for Blacks.
Sources: Survey of Consumer Finances, Economic Policy Institute, American Bankruptcy Institute, United States Census Bureau
While 1-in-4 African-Americans lives in poverty and nearly 1-in-3 has no assets or a negative net worth, William R. Patterson, award-winning lecturer and national bestselling co-author of The Baron Son, has developed a unique system to eliminate the economic hardships faced by so many families today.
"Most people are using an outdated model or worse, have no model for financial independence. While there is a negative savings rate in the U.S. and personal bankruptcies are at an all-time high, there are still many Americans who are attaining unprecedented wealth," Patterson says.
William provides a fresh, innovative road map to financial empowerment and debt-free living. You will learn how to take advantage of free wealth-building Resources to determine how much money you will need to invest for retirement and/or to become a millionaire.