Having Financial Wealth Does Not Eliminate BIPOC Issues

How common is it for us to think that having money will solve all of of life's problems. Significant financial wealth must come with insurmountable happiness, right? In a dream world, it would.

In our little dream world, money would solve all of our issues in life. We wouldn't live in a society that even knew what racism meant because it wouldn't exist. There would be no discrimination, or prejudices, and no feelings of being "other'd."

But this is not that world.

We live in a world that has the financial wealth, but racism is still very much alive.

Our world is one that is cruel and hard at times. If you identify as BIPOC and are financially wealthy, you may think that you are stuck between a rock and a hard place. Here are some reasons why being wealthy does not eliminate BIPOC issues and how to deal with this reality.

You Can't Control The Actions or beliefs Of Others

As someone with a large inheritance, or set to run the family business someday, or is self-made with their wealth, you are likely accustomed to feeling in control. In control of your finances that you fought hard to amass, of your family dynamic and all that you have gone through.

But despite your wealth, you can't control everything. Like the weather. Or people's opinions of you. And as terrible as it is, there are those out there who will still believe antiquated, judgmental, and downright underestimating, belittling, inaccurate assumptions about who you are as a person of colour. Sometimes this is conscious and overt, other times it is unconscious and more noticeable in systems that would benefit from massive change.

While you may be significantly wealthy, that doesn't mean these types of people will think highly of you. Thankfully, long-term mental wellness is not dependent on the approval of others.

You Can Still Feel Isolated

Our social and family circles are often everything to us. In the end, all we have is one another. And yet, we can still feel alone.

It can be very difficult to transition to significant wealth when you are from a closer community of humble means. Others may have expectations of how you should spread your wealth. You might be accused of ‘selling out’ or ‘forgetting where you come from’. Navigating feelings of guilt for having more may significantly increase anxiety. Being in this financial position may also cause you to struggle with feeling isolated, now that you have a new set of challenges connected to being affluent. Those from your community of origin likely won’t relate. It can be difficult connecting with those of similar means, simply because of not having close relationship with each other. Either way, it can be lonely.

Many BIPOC Question Their Own Identities...This Is Especially True For Those Who Are Wealthy

How often do we question our own identity and sense of self worth as a person of colour? That can become become exponentially worse if you have great wealth.

You see, with wealth comes questions of not being able to trust those around you. Are they sticking around because they truly like and respect me? Or are they just using me in the hopes of someday getting something from me?

This is difficult territory to navigate. You might already question whether or not your neighbours are just being polite to you because they don't want "trouble." Let alone wondering if this is happening because of your skin tone and the fact that you do have financial stability? In the same breath, you might encounter neighbours who genuinely like you for who you are. This can be hard to discern. Hopefully there can be relief in knowing that discerning the intentions of others in this instance, need not be a top priority.

How To Deal With Being A Racial MINORITY Who Has high net worth

It is no secret that it is challenging to cope with the stress of being a person of colour in this world. But when you add in the stress of also being wealthy? It can really begin to impair your mental health.

Ultimately, we want to know that we just aren't solely seen as BIPOC. Or a person who is especially wealthy. Being viewed as a whole person is the core of who we are as humans. Period.

As a registered psychotherapist, I can support you in coping with the stress of managing the deeper issues associated with affluence that may be impacting your life. Connect here for help with through financial therapy.