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In the third and final installment of TheGrio's coverage of the black 1 percent we want to take a closer look at black women and wealth.
A review of the 2007 Survey of Consumer Finances data reveals a troubling disparity: the top black 1 percent of households by income did not include a woman as head of the household . The same is true for for Hispanics. This doesn't mean female-headed households do not exist among the top income earners, but their numbers appear to be small.
"It's somewhat depressing, but it kind of shows us for every Sheila Johnson or Oprah Winfrey, clearly hundreds of thousands are financially struggling and not where they want to be in terms of income and net worth," says Lynnette Kalfani-Cox, Co-founder of Askthemoneycoach.com, a free financial advice blog.[More] Nov 21, 2010 - Category: Websites
On BlackEnterprise.com: 16 Money Experts Who Want To Make You Rich - Glinda Bridgforth Featured As #6.
For four decades and counting, Black Enterprise has been committed to the financial education and economic advancement of black Americans. Our mission, simply put, is to help you build Wealth for Life. Over the years, we've gained some passionate allies in our campaign to help you reach your goals, achieve your dreams and improve the quality of your life by taking control of your finances.
The following champions of financial literacy--ranging from syndicated columnists and television anchors to finance industry pros and community activists--have been among the most effective and determined evangelists of our Wealth for Life Principles. If you are serious about wealth building, pay attention to the people who want to make your rich.