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Historically, black communities in the US have faced education, housing, and wealth inequalities. African Americans struggled to become independent citizens for decades; Jim Crow Laws created an environment for Blacks, making it difficult to be accepted, succeed economically, and receive equal treatment. It finally ended around the 1960s, but many Black Americans continue to suffer the consequences of previous generations. Fortunately, things have started to change, and now different organizations support black communities advocating for racial equity. As a result, opportunities have been made available for them to invest, own assets, and build wealth through home ownership, life insurance, and others.
As policies continue to change, Black Americans are looking for opportunities to build and transfer their wealth more than ever. Before enacting the 1968 Fair Housing Act, black Americans were discriminated against, making it harder to purchase homes in "good" neighborhoods or homes of their liking. Did you know that most Americans' most significant source of wealth is their home? But as we know, especially Bay Area residents, it is becoming harder for many of us to purchase homes in this area as prices are insanely high, and mortgage rates don't help the situation. Thankfully, as society becomes more inclusive and supportive of minority groups, Black Americans and many others have turned to different strategies to grow their wealth and pass it down to future generations. One way to ensure the financial protection of your loved ones is through a life insurance policy. The decision to get life insurance or not is contingent upon many factors. Ask yourself these questions: Will my family be financially stable following the death of the income provider? How many dependents do you have? For how long will they be dependent on you? Is there longevity in your family? Again, people only buy insurance to provide financial support when they are gone, which is an act of love and should be discussed with a financial professional who can evaluate your situation before deciding.
Our vision is for all our clients to achieve financial freedom that transcends generations regardless of race, gender, age, and social and economic status. We believe in providing the right tools and education to transform and create your desired financial lifestyle.