Generational Wealth and Ownership in Other Races

Generational Ownership

We must understand that there is a blueprint that Whites, Asians, and other races have followed to pass down wealth to their children and grandchildren. Ownership, and the lack of, is one of the main reasons why we struggle today. It’s time to put a stop to the lack of ownership and begin creating and owning assets, such as Businesses, Real Estate, and Stocks.

Increasing the ownership of assets will not only help our situation, it will allow for future generations of Black children to enter the world with an advantage. Stop wasting so much money on entertainment and learn how to buy real estate to pass down to your children.

This selfish mentality has lived with us for thousands of years. I like this quote by Damon Dash that says, “Hustle for your last name and not your first.” We all should adopt this mentality and think long-term about wealth we can build for generations to come.

Many prominent Black businessmen, like Dr. Boyce Watkins and Jay Morrison offer courses on starting a business and buying real estate. Use these tools available to you to

The following article is a post about a company that is changing hands. The company has belonged to the family for 4 generations.

4 Generations of Ownership

Syd’s Carpet and Snooze Room in Keene has changed ownership.

John M. “Jay” Croteau 3rd of Surry took over the business at 43 St. James St. from his parents, Joann and John Croteau Jr., who retired at the beginning of the year.

“I’ve been here full-time for about 26 years. Syd was my great-grandfather,” Jay Croteau said. “… Now it’s my turn to run the ship.”

He explained that his parents wanted to pass the business along for a few years.

“But for various reasons it was never a good time to do it,” Croteau said. “You can always find a reason why to prolong it, but the time had finally come when the time seemed right to make the change.”

He said most operations will remain the same, but he is interested in amping up the company’s investment in technology. Syd’s Carpet and Snooze Room is offering more online bill-paying and purchasing, he said, and is taking advantage of digital advertising.

“(It’s to) kind of get us into the next century, the next phase,” Croteau said.

The business was established in 1921, originally as a paint contracting company. Slowly, Croteau’s grandfather and father added the products that are sold today, including flooring, furniture and bedding. The company no longer sells paint.

“A fourth-generation business is rare, I think, these days, so it’s with a lot of luck that it gets this far,” Croteau said.

Source: Son takes over Keene family business

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