Smart Money: Overcoming Structural Challenges

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advice or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode is dedicated to a conversation about the structural and financial challenges Black women face and how to overcome them. Check out this episode on any of these platforms: Our take The numbers behind the racial wealth gap in America are staggering. For example, there’s a $200 billion annual gap between Black and white recipients of inheritances, according to a 2021 McKinsey Global Institute report. For many Black women, this wealth gap makes it more difficult to build wealth and also build enough for future generations. Some of the structural issues that prevent Black women and Black moms from building wealth include structural racism, redlining, the gender pay gap and a lack of access to financial education. However, learning about these issues and how to manage money can help Black moms navigate challenging circumstances to build wealth for themselves and their children. There are several ways Black moms can actively work toward closing the wealth gap, including investing and owning homes. For moms who are apprehensive about starting on their wealth-building journey or don’t feel they have enough to start, it’s OK to start where you are. That could look like putting away small amounts regularly or improving your financial literacy so you can share that knowledge with your kids. Have a money question? Text or call us at 901-730-6373. Or you can email us at To hear previous episodes, go to the podcast homepage.

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