Sharing Arduous-Gained Cash Classes to Construct Generational Wealth


Julien and Kiersten Saunders, the creators of the blog Rich & Regular, even call “retirement” the “R word”. Achieving this independence is crucial now, they say, not just after 65. And they encourage their audiences, whom they reach on YouTube, Instagram, Facebook and Twitter, to look for new opportunities.

“Minority communities are obsessed and focused on generating more income through their jobs,” said Mr. Saunders, 41, who began providing personal financial advice with his wife in 2017 with his wife, middleman, permit or promotion. “Passive income could come from renting property or, for digital creators like themselves, come through sponsored content, he said.

Debt relief is a huge topic in the online personal finance community. Debt, including student loans, credit cards, and medical bills, disproportionately affects people of color in the United States. The typical debt load of black and Hispanic Americans in 2019 was 46 percent of their wealth, compared with 29 percent for whites. And, according to a 2020 study by the Aspen Institute, about 21 percent of African American borrowers were behind on their student loan payments, compared with 6 percent of white borrowers.

Known as the Millennial Debt Freedom Coach on Instagram, Leo Jean-Louis advises his 50,000+ followers to zero their debt balances by incorporating the lessons he and his wife Faith learned after shedding more than $ 200,000 had paid in less than three years. A trained occupational therapist, he worked weekend and holiday shifts, and the couple saved costs by canceling cables, preparing meals, carpooling, and more. He said the pandemic recession has brought commitment and more questions from his followers.

“I’ve also seen an increase in other platforms trying to publish information,” said Jean-Louis. “Other Instagram influencers have been looking for collaborations.”

The gender pay gap is a big topic for female influencers. According to the US Bureau of Labor Statistics, women typically earned about 18 percent less than their male counterparts in 2020, and the gap was far greater for black and Hispanic women. Black women in professional occupations earned only 68 percent of what white male colleagues earned.