Strategies: Racial Wealth Building

Evidence-informed strategies to close the racial wealth divide. These solutions account for historical practices that established and maintain the wealth divide– and reduce wealth inequities by increasing income and assets, expanding employment opportunities, removing barriers to quality education, and increasing access to homeownership. 

42 Strategies

Universal basic income

Provide all individuals with regular cash transfers, without conditions, over their lifetimes
Evidence Rating:
Expert Opinion
  • Income

Housing reparations

Apologize for discriminatory housing policies; increase subsidies, financing, and paths to homeownership for people of color; and invest in systematically disadvantaged neighborhoods
Evidence Rating:
Expert Opinion
  • Income
  • Housing and Transit

Reparations for descendants of enslaved people

Apologize for the history and legacy of slavery and provide direct payments or community investments to descendants of enslaved people
Evidence Rating:
Expert Opinion
  • Income
  • Family and Social Support

Baby bonds

Establish publicly funded investment accounts for every newborn, accessible at age 18
Evidence Rating:
Expert Opinion
  • Income

Financial education for adults

Provide education on basic budgeting, bank use, credit management, bankruptcy, credit building and counseling, homeownership, retirement, divorce, etc.
Evidence Rating:
Some Evidence
  • Income

Child development accounts

Build assets through child development accounts (CDAs) with contributions from a sponsoring organization, such as government agencies or nonprofits, and family, friends; also called children’s savings accounts (CSAs)
Evidence Rating:
Expert Opinion
  • Income
  • Education

Adult vocational training

Support acquisition of job-specific skills through education, certification programs, or on-the-job training, often with personal development resources and other supports
Evidence Rating:
Scientifically Supported
  • Employment

Health insurance enrollment outreach & support

Provide outreach and support to assist those whose employers do not offer affordable coverage, who are self-employed, or who are unemployed
Evidence Rating:
Scientifically Supported
  • Access to Care

Sector-based workforce initiatives

Provide industry-focused education and job training based on the needs of regional employers within specific sectors
Evidence Rating:
Some Evidence
  • Employment