Op-ed: Covid-19 has financially crushed Black and Latino Americans. How we can help

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Op-ed: Covid-19 has financially crushed Black and Latino Americans. How we can help investinyou (In partnership with acorns.)

The fact that 44 million Black Americans are being met with resistance and denial as they ask white people to consider obstacles that Black people confront daily is a clear example. To simply dismiss the concerns of an entire race when you have not walked one day in their shoes is privilege. To ignore the plight of millions because you "don't see it" in your life is white privilege.

The more clearly we understand the factors that create economic inequality, the better we can improve financial education and financial capability. ... It is the only hope for a better future.There is a very wide and pervasive wealth and asset gap between races, and layoffs and the economic fallout of the Covid-19 crisis are disproportionately affecting Black and Latinx Americans.

Census data show that median and mean income of white Americans is higher than those who are Black and Latinx. I have been working in the financial education field for a decade and find few, if any, measures more clearly demonstrate the racial inequality within the U.S. Our core values will dictate how we respond. At the organization I lead, I am proud of the work we do to highlight financial inequities among races and genders, coupled with our work to build capacity and examine the ecosystem at play to ensure all youth — including Black and Latinx youth — are able to live their best financial lives.has focused on inclusion and diversity within their role of governance and mission stewardship. But I also realize the need to do much more.

 

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acorns If they're on Medicare, they typically get a diagnosis-related group lump sum payment that would be $5,000. But if it's COVID-19 pneumonia, then it's $13,000, and if that COVID-19 pneumonia patient ends up on a ventilator, it goes up to $39,000.

acorns And the rioters in Seattle, New York, Portland, etc., had nothing to do with this financial funk. 🤔

acorns Always trying to divide our Country into subsets.

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