Page 41 - Payne Research Center ~ Money Matters

P A YN E C E N T E R . OR G
THEME 5
Defining Generational Wealth
Due to the nature of open-ended questions, the findings and discussion sections are presented together.
Findings & Discussion
This study found that students’ aspirations for generational wealth extend beyond financial accumulation to encompass a holistic vision of financial well-being. Based on the findings, students defined generational wealth as having financial freedom, stability, and comfort. They mentioned building tangible assets like investments, businesses, and property alongside intangible assets such as happiness, family, joy, and power. Furthermore, students emphasized the value of reaching goals, achievement, success, and a secure foundation, highlighting their drive to create a better future for themselves and their families. This multifaceted understanding indicates that students view financial well-being as an integral part of a fulfilling life, encompassing not just material assets but also emotional and social well- being. Figure 5 highlights the most common terms that students reported when describing generational wealth. Prior studies reflect similar aspirations among college students (Blackwell & Pinder, 2014; Falcon, 2015); however, this study uniquely frames financial aspirations within the context of groups who are subject to systemic disadvantage and intergenerational economic exclusion.
The survey findings reveal that HBCU students have a profound and holistic understanding of generational wealth.
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