Juneteenth is more than a commemoration of freedom—it’s a reminder of the resilience, sacrifice, and unfinished work that still lies ahead. On June 19, 1865, enslaved Black Americans in Galveston, Texas, were finally informed of their freedom—two and a half years after the Emancipation Proclamation was signed. While Juneteenth may have marked the end of slavery, it did not mark the end of deeply embedded systemic barriers.
Today, one of the most critical barriers Black Americans face is the racial wealth gap or divide. What is the racial wealth gap? According to Inequality.org, the racial wealth gap is the difference of net worth between races. The median black family has a net worth of $44,100. That’s 15% of the median white family’s wealth of $282, 310. True freedom isn’t only about the right to move freely—it’s also about the ability to live freely and earn. That means having access to quality housing, education, healthcare, and opportunities for advancement. All of these are directly tied to financial security and economic power.
Why Financial Freedom Matters
Financial freedom isn’t about luxury—it’s about stability, choice, and protection. For Black families, financial security means fewer emergencies that turn into crises. It means children can inherit more than debt. It means being able to invest in businesses, support community institutions, and retire with dignity.
Yet the wealth gap between Black and white households remains vast. Centuries of systemic injustice—from slavery and Jim Crow to redlining and discriminatory lending—have denied Black Americans the opportunity to build generational wealth. Juneteenth is a powerful moment to acknowledge that history—and commit to rewriting it.
Building a Legacy of Wealth
Honoring Juneteenth means doing more than remembering. It means acting.
- Budget Creating an emergency fund and proper budgeting can go a long way.
- Educate yourself and others about personal finance, credit, investing, and ownership.
- Support Black-owned businesses and financial institutions to keep dollars circulating in the community.
- Talk about money openly within families—break the cycle of silence and shame.
- Plan for the future through wills, life insurance, and estate planning.
- Invest in our youth, ensuring they have access to financial education and resources early on.
Liberation Is a Lifetime Goal
The road to financial freedom is long and often difficult—but it is also filled with power, purpose, and possibility. This Juneteenth, let’s not just celebrate freedom—let’s build the kind that lasts. A kind rooted in ownership, equity, and empowerment.
Because freedom delayed is still freedom denied—and financial liberation is a freedom worth fighting for.
Contact Favored Financial Planning—336-422-6734—to move forward in your journey to financial freedom.
