So Money - Episode 1150

Ernest Gains and Latoya Smith

Co-Founders, The Profit Room

There are many reasons for the existing racial wealth gap. The fact that most Black households don’t invest does not help.

According to the Federal Reserve only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. Among white households, the ownership rate is nearly 61%.

Guests Ernest Gains and Latoya Smith are expert investors and the founders of a Black-owned stock market and trading education company called The Profit Room, which seeks to educate students on how to confidently invest in the market and build wealth.

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