For the past few weeks, I have been sitting in on the stock market program we have started for the teens at my job. The idea was to expose them to something more than what the "low end" of Chicago has to offer them and since I know that this information usually comes at a high price, I decided to get in on the action.
Gary Harris is the financial advisor of the president of my job and also the instructor of this class. He is a well kept, charismatic gentleman who looks to be in his mid to late 40s. Three days a week, he comes to educate us for two hours, a service that he usually charges his well off clients $5,000/hour for. We started this program with eight teens. To date, only one is still actively participating. Sad, I know.
Today, we discussed net worth. The average net worth of a white family is $140,000; black family is about $5,000. The net worth for women fitting my demographic (young, black woman in her early 20s) is an unbelievable -$5. Yes, NEGATIVE $5. When he mentioned that fact today, I'm sure my face did a number of things ranging from "WTF?!" to "That is unbelievable". According to an article at NewsOne for Black America, a white woman's median worth is about 42 grand. Those numbers are staggering to me. I looked at it in terms of being kidnapped and held for ransom or even putting a price tag on myself and in actuality, I can't because research says I'm not worth too much of anything.
This class is teaching me a lot and a little further down the line, I see myself owning some stock. Just sitting there listening to him tell us of his story and how he acquired all that he did by striving to achieve more than what the average person is willing to work for inspires me. He is also growing my interest in increasing my net worth. I doubt that I am worth -$5 (because I don't have any liabilities) but I know for a fact that I never want to get to that point.
Just wanted to share that tidbit with you all this evening.
Do you know YOUR net worth?