Finance Stoic 6a – Equality

Who am I and what do I stand for? 

I am a father.

I am a husband.

I stand for equality – personal, professional, and financial, regardless of race, religion, sexual orientation, country of birth or whatever else people may choose as a means of discrimination.

I stand for education and knowledge as the path to equality. Access to affordable learning, which be through books, school, online education, or whatever source a child can access.

While I am a white male and I have two male children, Mrs. Main Street is Chinese and my children are thus half Chinese and look reasonably full Chinese. Do they deserve any less a chance of success than I do because of the color of their skin? Do my nieces deserve less opportunity? No, they don’t.

Financial independence thoughts

I will discuss this further in the what I am reading summary of the book Curious. In 1999 Sugata Mitra performed an experiment, which demonstrated that children can learn on their own, if curious, and are then able to teach others. What did they simply need? Access to resources. That is it. Simple.

 

Not so fast, while it may seem simple, the below chart illustrates that not all children have the same access to home computers or internet access. Asian and white children have approximately a one-third higher usage of home computers and fifty percent higher usage of home internet. Incredible.

What does this mean? Take a look at another chart below, prepared by the Financial Samurai.

Income By Race

Asians and white people earn significantly more than Hispanic and Black people, on average, with the results quite correlated to access to home computers and home internet usage.

It doesn’t stop at earnings, Sam also highlighted in a separate post, further race disparities, below being net worth:

It doesn’t stop there, here are some more links on this topic:

  1. US News – US education still separate and unequal
  2. Unequal opportunity: race and education
  3. The challenge of educational inequality

What does this have to do with your financial independence? Perhaps nothing, perhaps a lot.

When I am done my first career, getting involved in education and helping to address the inequality gap will be something I would like to focus on addressing.

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