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Closing the Wealth Gap in Black America Through Investments in Innovation
Black America’s wealth gap can be closed by more individuals actively participating in new economies. The old economy relies on manipulation and debt to reshuffle wealth, while the new economy creates wealth where it previously did not exist.
The post Closing the Wealth Gap in Black America Through Investments in Innovation first appeared on BlackPressUSA.
By Phillip Washington | Dallas Weekly Magazine
In today’s discussion, we delve into the pressing issue of closing the wealth gap in Black America. Wealth in business and investing exists at the intersection of faith in the future and individual passions. It is important to distinguish between the collective and individual mindsets when addressing topics such as race, sex, or other classification. While the collective mindset shapes the beliefs and mindset of a particular group, the individual mindset empowers each person to claim their power and intelligence. In this article, we are discussing the collective mindset.
Belief Systems and the Evolution of Wealth
Each generation brings forth new ideas that shape the economy and solve the problems of the previous generation. This perpetual cycle of question and answer drives progress and innovation. For example, as we strive for faster and more efficient communication, we witness the evolution from telephones to email, text messages, instant messaging, and social media platforms. With each new idea comes a new form of wealth.
The wealthiest individuals in society are often entrepreneurs who bring innovative business ideas to life, along with the investors who provide the necessary capital. The combination of entrepreneurship and investment is a powerful force in wealth creation. However, it is important to recognize the coexistence of the old and new economies. The old economy relies on manipulation and debt to reshuffle wealth, while the new economy creates wealth that previously did not exist.
The old economy’s reliance on debt and manipulation perpetuates a scarcity mindset. When too many individuals engage in this game, it becomes a competition for a limited pie, leading to conflicts and wars. On the other hand, the new economy operates in a realm of abundance. Industries such as bitcoin, space, AI, Airbnb hosting, podcasting, gaming, and influencer marketing offer boundless opportunities for wealth creation.
In these new economies, barriers to entry are minimal, and individuals are primarily focused on seizing opportunities rather than being hindered by concerns of race or sex. The internet has democratized access to information, and more people than ever are participating in these new economies. However, today’s biggest resistance to wealth creation lies within the individual and collective mindset. Overcoming the fear of the unknown and embracing the uncharted territory of new ideas is essential for progress.
The Power of the Individual in Closing the Wealth Gap
As we navigate the uncharted territory of the new economy, we must recognize that there is no proven path or playbook. We are writing the rules as we go along. This may seem daunting, but it is also an area where many individuals, especially Black people, excel. The gap in Black America’s wealth will only be closed when more individuals run to the edges and actively participate in these new economies.
It is encouraging to witness the increasing number of black individuals engaging in new media, finance, AI, and other emerging industries. The momentum is in our favor, and we live in a time when the collective world mind becomes more open to diverse perspectives. The dominance of the old Eurocentric perspective is gradually fading, making it the greatest time ever to be Black.
Implications and Potential Impact
The implications of embracing the new economy and closing the wealth gap are far-reaching. By actively participating in the edges of innovation, black individuals can become cooperative components of the global movement forward. This movement brings not only wealth but also happiness, peace, and joy. It is an opportunity to shape the future and contribute to a more inclusive and prosperous society.
Closing the wealth gap also has broader societal implications. When individuals from all backgrounds have equal access to wealth creation opportunities, it fosters a more equitable society. It dismantles the barriers historically hindering marginalized communities from achieving economic success. By embracing the new economy, Black America can rewrite the narrative and redefine what is possible.
The Lesson
The journey towards closing the wealth gap in Black America requires a continued collective shift in mindset. While external resistance has historically impeded progress, the internet has provided access to information and opportunities like never before. The resistance we face today is primarily internal, rooted in fear of the unknown.
Are there still biased people in positions of power? Of course. There always will be in any majority class’s perspective regardless of race, sex, or other classification. The point is the world is moving fast towards a more diverse perspective, and the perceived power of those with a Eurocentric perspective is no longer as strong as most believe it to be. Those of us playing at the edges see nothing but space and opportunity. There are no biases out here, but our own brought in from past memories and stories passed down.
Phillip Washington, Jr. is a registered investment adviser and Wealth Building Made Simple Podcast host. The information presented is for educational purposes only. It does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
The post Closing the Wealth Gap in Black America Through Investments in Innovation first appeared on BlackPressUSA.
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LIHEAP Funds Released After Weeks of Delay as States and the District Rush to Protect Households from the Cold
BLACKPRESSUSA NEWSWIRE — The federal government has released $3.6 billion in home heating assistance after a delay that left states preparing for the start of winter without the program’s annual funding.
By Stacy M. Brown
Black Press USA Senior National Correspondent
The federal government has released $3.6 billion in home heating assistance after a delay that left states preparing for the start of winter without the program’s annual funding. The Low-Income Home Energy Assistance Program, known as LIHEAP, helps eligible households pay heating and cooling bills. The release follows a shutdown that stretched 43 days and pushed agencies across the country to warn families of possible disruptions.
State officials in Minnesota, Kansas, New York, and Pennsylvania had already issued alerts that the delay could slow the processing of applications or force families to wait until December for help. In Pennsylvania, more than 300,000 households depend on the program each year. Minnesota officials noted that older adults, young children, and people with disabilities face the highest risk as temperatures fall.
The delay also raised concerns among advocates who track household debt tied to rising utility costs. National Energy Assistance Directors Association Executive Director Mark Wolfe said the funds were “essential and long overdue” and added that high arrearages and increased energy prices have strained families seeking help.
Some states faced additional pressure when other services were affected by the shutdown. According to data reviewed by national energy advocates, roughly 68 percent of LIHEAP households also receive nutrition assistance, and the freeze in multiple programs increased the financial burden on low-income residents. Wolfe said families were placed in “an even more precarious situation than usual” as the shutdown stretched into November.
In Maryland, lawmakers urged the Trump administration to release funds after the state recorded its first cold-related death of the season. The Maryland Department of Health reported that a man in his 30s was found outdoors in Frederick County when temperatures dropped. Last winter, the state documented 75 cold-related deaths, the highest number in five years. Rep Kweisi Mfume joined more than 100 House members calling for immediate federal action and said LIHEAP “is not a luxury” for the 100,000 Maryland households that rely on it. He added that seniors and veterans would be placed at risk if the program remained stalled.
Maryland Gov. Wes Moore used $10.1 million in state funds to keep benefits moving, but noted that states cannot routinely replace federal dollars. His administration said families that rely on medical equipment requiring electricity are particularly vulnerable.
The District of Columbia has already mapped out its FY26 LIHEAP structure in documents filed with the federal government. The District’s plan shows that heating assistance, cooling assistance, weatherization, and year-round crisis assistance operate from October 1 through September 30. The District allocates 50 percent of its LIHEAP funds to heating assistance, 10 percent to cooling, 13 percent to year-round crisis assistance, 15 percent to weatherization, and 10 percent to administrative costs. Two percent is used for services that help residents reduce energy needs, including education on reading utility bills and identifying energy waste.
The District’s plan lists a minimum LIHEAP benefit of $200 and a maximum of $1,800 for both heating and cooling assistance. Crisis benefits are provided separately and may reach up to $500 when needed to resolve an emergency. The plan states that a household is considered in crisis if it has been disconnected from energy service, if heating oil is at 5 percent or less of capacity, or if the household has at least $200 owed after the regular benefit is applied.
The District’s filing notes that LIHEAP staff conduct outreach through community meetings, senior housing sites, Advisory Neighborhood Commissions, social media, posters, and mass mailings. The plan confirms that LIHEAP applicants can apply in person, by mail, by email, or through a mobile-friendly online application and that physically disabled residents may request in-home visits.
As agencies nationwide begin distributing the newly released funds, states continue working through large volumes of applications. Wolfe said LIHEAP administrators “have been notified that the award letters have gone out and the states can begin to draw down the funds.”
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Seven Steps to Help Your Child Build Meaningful Connections
BLACKPRESSUSA NEWSWIRE — Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think
By Niyoka McCoy, Ed.D., Chief Learning Officer, Stride/K12
Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think: They lay the foundation for some of life’s most important skills.
Through everyday play, young children begin learning essential social and emotional skills like sharing, resolving conflicts, showing empathy, and managing their emotions. These social skills help shape emotional growth and set kids up for long-term success. Socialization in early childhood isn’t just a “nice-to-have”—it’s essential for development.
Yet today, many young children who haven’t yet started school aren’t getting enough consistent, meaningful interaction with peers. Research shows that there’s a decline in active free play and peer socialization when compared to previous generations.
There are many reasons for this. Children who are home with a parent during the day may spend most of their time with adults, limiting opportunities for peer play. Those in daycare or preschool may have restricted free play, and large classrooms can reduce supervision and social coaching. Some children live in rural areas, are homebound due to illness, have full schedules, or rely on screens to fill their playtime. And for some families, finding other families with young children to connect with isn’t easy.
While these challenges can feel significant, opportunities for connection still exist in every community. Families can take simple steps to help children build friendships, create a sense of belonging, and strengthen social skills. Here are some ideas to get started:
- Storytime sessions at libraries or local bookstores
- Community offerings such as parent-child workshops, art, music, gymnastics, swimming, or sports programs
- Weekly events at children’s museums, which may include art projects, music workshops, or science experiments
- Outdoor exploration, where kids can play with peers
- Local parenting groups that organize playdates and group activities
- Volunteer opportunities where children can participate, such as pet adoption events or packing meals at a food bank
- Classes for kids at local businesses, including hardware, grocery, or craft stores
Some of these community activities are free or low-cost and give kids the chance to build friendships and practice social skills. Parents can also model positive social behavior by interacting with other parents and encouraging their children to play with their peers.
These may seem like small moments of connection, but they can have a powerful impact. Every time your child shares a toy, plays make-believe with peers, or races a friend down the slide, they’re not just playing—they’re learning the skills that build confidence, empathy, and lasting friendships. And it’s good for you, too. Creating intentional opportunities for play also helps you strengthen your own network of parents who can support one another as your children grow together.
#NNPA BlackPress
Seven Steps to Help Your Child Build Meaningful Connections
BLACKPRESSUSA NEWSWIRE — Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think
By Niyoka McCoy, Ed.D., Chief Learning Officer, Stride/K12
Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think: They lay the foundation for some of life’s most important skills.
Through everyday play, young children begin learning essential social and emotional skills like sharing, resolving conflicts, showing empathy, and managing their emotions. These social skills help shape emotional growth and set kids up for long-term success. Socialization in early childhood isn’t just a “nice-to-have”—it’s essential for development.
Yet today, many young children who haven’t yet started school aren’t getting enough consistent, meaningful interaction with peers. Research shows that there’s a decline in active free play and peer socialization when compared to previous generations.
There are many reasons for this. Children who are home with a parent during the day may spend most of their time with adults, limiting opportunities for peer play. Those in daycare or preschool may have restricted free play, and large classrooms can reduce supervision and social coaching. Some children live in rural areas, are homebound due to illness, have full schedules, or rely on screens to fill their playtime. And for some families, finding other families with young children to connect with isn’t easy.
While these challenges can feel significant, opportunities for connection still exist in every community. Families can take simple steps to help children build friendships, create a sense of belonging, and strengthen social skills. Here are some ideas to get started:
- Storytime sessions at libraries or local bookstores
- Community offerings such as parent-child workshops, art, music, gymnastics, swimming, or sports programs
- Weekly events at children’s museums, which may include art projects, music workshops, or science experiments
- Outdoor exploration, where kids can play with peers
- Local parenting groups that organize playdates and group activities
- Volunteer opportunities where children can participate, such as pet adoption events or packing meals at a food bank
- Classes for kids at local businesses, including hardware, grocery, or craft stores
Some of these community activities are free or low-cost and give kids the chance to build friendships and practice social skills. Parents can also model positive social behavior by interacting with other parents and encouraging their children to play with their peers.
These may seem like small moments of connection, but they can have a powerful impact. Every time your child shares a toy, plays make-believe with peers, or races a friend down the slide, they’re not just playing—they’re learning the skills that build confidence, empathy, and lasting friendships. And it’s good for you, too. Creating intentional opportunities for play also helps you strengthen your own network of parents who can support one another as your children grow together.
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