Shawn: At your suggestion, we reached out to Prof. Bell and told her about your comment. Here is her response.

-Jim (web editor)

The problem is much deeper than just saving money. It’s much deeper than that. Savings would help, by all means. But it is an issue of the type of job, particularly minority women, black and Hispanic women, in the industries that they’re in. For example, the service jobs don’t provide any wealth-generating ability. There are no big bonuses, they are not structured to build wealth; they come and go.

Many of these women are living on the edge themselves. Supporting not just themselves, but extended families, not just in this country, but in other countries.
Many are doing part-time work as well, so they’re not getting any help to build wealth.

We can give advice, but the reality is the cash flow is extremely uncertain. It’s not there. These are generational jobs, if you will. While we can get an Ursula Burns, the CEO of Xerox, they’re few and far between. I wish I had a solution, but this is something that we have to look at from many perspectives: employment, culture, education. So this is an interlocking systematic problem.

It is not as simple as giving a step-by-step answer. It requires deeper thought and policy.

wait a minute...I'm all for exposing income/wealth disparity issues in this country, but to interview a professor from a private Ivy League school who shares anecdotal evidence about how much more education white kids get vs. others is beyond ridiculous--of course those kids have money! How do you think they can afford to go to Dartmouth??? While I do not have statistics, I would bet that these white kids are in the minority in the greater white population when it comes to exposure to financial education. This was a gross oversimplification in this story and an insult to those of us who are far from falling into this privileged category. Balance!!

Interesting why you chose to make this story about women? As a professional Black male who is usually alone as a Black male professional but is surrounded by numerous professional Black woman, I don't think Black women have it worst than Black men. Anyway, I also see these ladies with the latest upscale phone, most are single mothers by choice, they eat out everyday, etc. Point being, the choices many non-White women are making regarding their spending effects what money they actually make but don't have left over after the end of the day to save.

I will say I was interested an ultimately disappointed in the story. The key question -- save until the end -- how can people begin to build wealth deserved a cogent, step-by-step answer but was allowed to be swept under the rug and not answered. All people (not just black women) could have benefitted from that answer. Perhaps the professor can post some suggestions online.

What kind of journalists are you? You invite people that have no credibility to discuss topics and speak as though they are some kind of authority. You don't ask for specific sources of the "facts" they are broadcasting, and you allow them to mislead tyour listening public, many of whom are paying for your show to even be on the air. As for women, black white or otherwise, not having any money saved up, perhaps you should go to the store sometime and just watch them. They buy tons of stuff that they don't need, and then they happily tell everyone how poor they are. As for generational wealth, I'd be interested in knowing how many people in general have inherited their wealth from their family. I consider myself a typical middle class American whose parents are still alive, married and healthy. I have received nothing and if I ever do, it certainly won't be much. I think you really need to stop broadcasting this crap. I for one am getting tired of hearing it.