The Financial Flipside Podcast Episode 2

• What is wealth, and why is  talking about it so difficult? Our second episode covers the difference between wealth and riches, barriers to discussing and building wealth, and some ways to save and invest in light of these obstacles.

  
  
  

  As mentioned at the end of the show, we want to hear from you: (how) are you working on building wealth? What has worked? What hasn’t? Do you have any wealth-building questions? If so, ask us on Twitter (@HeywardCPA) or Facebook (facebook.com/heywardcpa)

  
  

  Mentioned on the show

  • What is Wealth?
  
  
  • A recent study finds that the median wealth of Black (and more slowly, Latinx) people in the US is trending toward zero *^
  
  
  • A selection of saving and investment apps: Acorns, Digit, Stash.
  
  

  *Note: on the show, we said that, with a median wealth of zero, 50% of Black or Latinx  people would have 0 wealth and %50 would be in debt. Correction: 50% of Black or Latinx people would be in debt or have zero wealth, and the other 50% would have $1.00 or more in wealth.

  ^This article lacks information about the relative wealth of Asian Americans, Native Americans, or other groups. While useful for visualizing systemic economic inequality, the picture it paints does not describe all of the specific effects of systemic inequality because it does not contain data on all of those affected.

  
  

  Bonus info:

  • 4 Steps to Help You Build Wealth Right Now
  • The CFP Board of Standards has articles/resources on wealth building topics: www.letsmakeaplan.org/learning-center