There are many reasons for the existing racial wealth gap. The fact that most Black households don't invest does not help.According to the Federal Reserve only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. Among white households, the ownership rate is nearly 61%.Guests Ernest Gains and Latoya Smith are expert investors and the founders of a Black-owned stock market and trading education company called <a href="https://theprofitroom.com/">The Profit Room</a>, which seeks to educate students on how to confidently invest in the market and build wealth.

There are many reasons for the existing racial wealth gap. The fact that most Black households don't invest does not help. According to the Federal Reserve only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. Among white households, the ownership rate is nearly 61%. Guests Ernest Gains and Latoya Smith are expert investors and the founders of a Black-owned stock market and trading education company called The Profit Room, which seeks to educate students on how to confidently invest in the market and build wealth.

There are many reasons for the existing racial wealth gap. The fact that most Black households don't invest does not help.According to the Federal Reserve only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. Among white households, the ownership rate is nearly 61%.Guests Ernest Gains and Latoya Smith are expert investors and the founders of a Black-owned stock market and trading education company called&nbsp;<a href="https://theprofitroom.com/" rel="noopener noreferrer">The Profit Room</a>, which seeks to educate students on how to confidently invest in the market and build wealth.

1150: How a Black-Owned Trading Firm is Helping to Narrow the Racial Wealth Gap

*** Named a Best Podcast By The New York Times, Time Magazine, Real Simple and MSNBC *** Host Farnoosh Torabi is an award-winning financial strategist, TV host and bestselling author. With over 40 million downloads and multiple Webby wins, So Money is dedicated to sharing inspiring money strategies and stories straight from today's financial leaders, bestselling authors and entrepreneurs. One day, hear an intimate money conversation with industry greats like Queen Latifah, Barbara Corcoran or Margaret Cho. Another day learn the basics of cryptocurrency and its impact on our wallets. On Fridays, tune in as Farnoosh answers our most pressing financial questions about saving, investing and building wealth. Advice and insights always delivered through a lens of equity, inclusivity and the changing world we live in. Want more? Join the So Money Members Club at SoMoneyMembers.com.

Share 1150: How a Black-Owned Trading Firm is Helping to Narrow the Racial Wealth Gap

Sign up to save your podcasts

1150: How a Black-Owned Trading Firm is Helping to Narrow the Racial Wealth Gap

1150: How a Black-Owned Trading Firm is Helping to Narrow the Racial Wealth Gap

More shows like So Money with Farnoosh Torabi

Money Girl

The Stacking Benjamins Show

Everyone's Talkin' Money

Afford Anything

HerMoney with Jean Chatzky

Marriage Kids and Money: Personal Finance for Families

ChooseFI

BiggerPockets Money Podcast

Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

Black Wealth Matters

Money Rehab with Nicole Lapin

All the Hacks with Chris Hutchins

Financial Feminist

Money For Couples with Ramit Sethi

The Money with Katie Show

Catching Up to FI