Within the United States, the wealth gap between black and white households continues to grow, and by 2053, the median wealth of Black Americans is expected to fall to zero. The goal for today’s episode is to discuss how we can harness Black economic buying power to close the racial wealth gap and create change within our communities. We interviewed Ash Cash, a banking executive and author of “The Wake Up Call: Financial Inspiration Learned from 4:44,” about how to build wealth and attain financial freedom. Our discussion focused on issues and practices that stifle wealth generation in the black community (14:24), the power of the Black dollar and the importance of spending with a purpose (18:40), the building blocks to saving and budgeting (36:30), how to create passive income (44:00), and strategies for using tax refunds wisely (49:00). Ty and Daphne close the interview by discussing useful financial advice that they gained from the book (57:20).
Other Topics Include:
5:55 - Introduction of the Topic
8:13 - What compelled Ash Cash to write “Financial Inspiration Learned from 4:44”
17:30 - Consumer versus Producer Mindset
27:00 - Gentrification, the Black Community, and Black Wealth
32:20 - Ash Cash discusses his personal mistake with managing money
55:15 - How to connect to Ash Cash