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I.M.C. PRINCIPLES

Black Wealth

black Assets - black Debt = black Wealth
The black wealth equation is fairly simple, it consists of two fundamental financial terms: black Assets & black Debt. However, the Algebraic complexity that comes along with inserting values into this equation is disheartening. Black people only make up ~14% of the national population, yet we are responsible for over 1.2 TRILLION DOLLARS in annual spending. We have all this buying power, yet we do not truly own anything of value (Cars, Homes, Property, Real Estate, Businesses, Retirement Savings etc.). Hence, black Debt (Rent, Loans, Car Payments, Bills, Expenses etc.) is equivalent, if not fractionally higher than black Assets, resulting in a ZERO, or NEGATIVE VALUE for black wealth in America.

Closing the Gap

The racial wealth gap is a pervasive inequity in this country that has lasted for too long. It is important that we understand the historical roots of wealth inequality, and how poverty rates and wealth inequality disproportionately affect communities of color.
- Results.org
There are a plethora of articles on the racial wealth gap as it pertains to African-American individuals and families. The current economic climate for people of color looks as if it is nearing a point of no return. To put things into perspective, for every $100 earned by a white family, a black family only earns $5. Even more concerning, by 2053, it is projected that the median net worth of African-American families will be ZERO.

Tools for Success

Ignorant Money Club (I.M.C.) is passionate about providing insight, resources, and tools to initiate, maintain, and increase black wealth. Our tools are customized to your needs, no matter where you are in your financial journey. We support through social media, blogging, vlogging, and even financial coaching if needed.
Ignorance is Voluntary Misfortune
- Nicholas Ling
Black Millennials! Ignorant Money Club is providing you with the necessities to Know Better…It’s Up to YOU to Do Better.

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