PROBLEM WORTH SOLVING

People who are the first generation in their families to attend or graduate from college are known as First-Gens ("FGs") or "FGLIs" [1], which stands for "First-Gen Low-Income" because FGs are overwhelmingly also from low-income backgrounds. People from college-educated families, in which one or both parents graduated from college, are known as Continuing-Gens ("CGs"). When it comes to wealth creation, and especially generational wealth creation, FGs are at a material disadvantage vis-à-vis CGs. The playing field is not level - "[FGs] accumulate less lifetime wealth than students whose parents completed a baccalaureate degree" [1]. Not only is this inequitable, but this situation also has a significant impact on a host of areas including health and longevity [2].

From an investment standpoint, CGs create wealth by investing in public markets - including direct equities, index funds, publicly-traded REITS and bonds - AND private markets - like real estate private equity, venture capital, and private equity, which are known as "alternative investments", being alternatives to the public options. While it is true that even many CGs aren't aware of these private markets - and even for those who are aware, access isn't so straight-forward - it is all the more so true for FGs. Unless an FG works in the finance industry - and the overwhelming majority of FGs do not - awareness of these private markets in the FG community is pretty nil. And access to actual investment opportunities - places to park money to generate return - is even more challenging.

CGs on the whole are aware of these private markets and have access to them "on the golf course or the country club", which includes elite university alumni networks. In contrast, the FG community for all intents and purposes isn't aware of these markets and isn't found "on the golf course and the country club", so doesn't have access to them in any event.

NOTES:

[1] https://tinyurl.com/TAG-FGWiki

[2] https://www.nytimes.com/2024/01/18/health/policy/nancy-e-adler-death.html