The Black Family Office: Excerpt

A Tale of Two Americas

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There are two Americas when it comes to wealth.

In the first America, families receive inheritances. Children attend college with tuition paid in full. First homes are purchased with down payment gifts from parents. Businesses are launched with seed capital from family networks. Retirement is comfortable, not desperate. When one generation passes, the next one inherits not just money but structures — trusts, investment accounts, real estate portfolios — that continue to grow and provide for decades to come.

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In the second America, families start from scratch with every generation. College means student loan debt that takes decades to repay. The first home, if it comes at all, is bought alone, with no family financial help. Retirement is uncertain. And when one generation passes, there is often little or nothing to pass on. The next generation begins where the last one did — or sometimes further behind.

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For too many Black families in this country, the second America is not a political abstraction. It is a lived reality. And it is not the result of effort, intelligence, or character. It is the predictable outcome of a wealth gap that has been widening for generations — one that did not happen by accident and will not close by accident.

This book is about closing it. On purpose. With a plan.