As part of a collaborative research project between people from racialised communities, London School of Economics and Equality Trust, 101 shares his insights into what is wealth, what helps and hinders people from racialised communities to build wealth and what could make a difference. The research was funded by the British Academy Innovation Fellowship Scheme (Fellowship number IF2324/24008). You can find the summary briefing from this project and any further information from www.equalitytrust.org.uk
This storyteller describes wealth as freedom of choice and autonomy over ‘who, what and how’ you do things. They describe how the accessibility of fee free trading and investment tools has improved (as well as the price of buying shares i.e. they are cheaper), but how wealth has been harder to accumulate via saving since the financial crisis. The storyteller reflects on how they were ‘lucky’ to buy their first property in the 2000s, when fiscal rules were ‘looser’ and more people could access home ownership. They reflect on the privilege they now have or ‘baked in advantage in keeping and sustaining wealth’, bearing in mind less optimum conditions since the Credit Crunch and how wages have not risen in line with house prices.
