Multigenerational Interactions in Black Middle Class Wealth and Asset Decision Making

Abstract

Traditional comparisons of wealth and asset attainment between Blacks and Whites suggest disproportionate outcomes; yet are limited in capturing the intrinsic factors that influence the decision-making process. This study examines the multigenerational interactions and influences that shape Black middle-class wealth and asset decision-making. Twenty-nine in depth interviews with Black middle-class families from three metropolitan cities were completed to provide insight into the factors that influence their economic decision-making. Results indicate Black multigenerationalism plays a significant and unique role in the understanding of contemporary wealth and asset decision making for Black middle-class families, including: (a) the desire for “safe” economic decision-making by parents, (b) the absence of a formal, multigenerational discourse, and (c) the absence of early, alternative economic knowledge.