It has been evident that the wealth gap between Black Americans versus white Americans is persistent. The effects of inequality and discrimination accumulated are evident in this gap.

There are certain benefits to be noted, income and wealthWhite families have an average net worth of 10 times that for Black families.

Redlining and other discriminatory financial practices, such as credit discrimination or redlining are all examples. increased the wealth gapBlack families have been prevented from being able create wealth over time.

However, times are changing.

Black millennials have been among the first generation to break through that wealth gap in order to achieve financial success. They are hard workers and extremely appreciative for all they have. As their first-generation wealth builders, however, they are also incredibly appreciative of everything that is available to them. success growsThey also feel greater pressure and more obligation.

It’s my responsibility as a certified financial planning professional to aid my clients first generation wealth builders.

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These wealth-builders must embrace their success and develop positive financial habits to navigate all the pitfalls and roadblocks they will face in their financial lives.

This is not an uncommon truth for first-generation wealth builders. Success doesn’t come easy. As their wealth grows, so does the responsibility and obligation that comes with it.

First-generation wealth buildersAs their wealth grows, it may add to the pressure. Many people in their families are the first to get a college degree, to earn a good salary, or to have some income.

Some people feel guilt instead of enjoying the success they have achieved. These people feel guilty about their success and are driven to take action to care for their families (parents or grandparents for instance) and to give back to the Black community for its love and support.

Although this is fine, there are times when it can cause financial tension.

This is why I encourage you to follow these steps first-generationBlack wealth creators to “put on your own oxygen mask first.”

The well-known airline passenger instruction is a reminder of the importance this has on our financial lives. We must first help ourselves before we can help others.

You must ensure that you are taking care of your financial well-being before you can support this loving community financially. You can’t financially help others if you don’t have enough student loans to pay off, or you want to achieve savings goals.

Statistics show that African Americans are statistically more likely to be a caregiver for their family in later life.

My family is a wealth building first generation. I can understand your desire to help your family and the community. We must remember where we come from and celebrate our culture and heritage.

The best way I’ve found to simultaneously put your own oxygen mask first while still making room to support your community financially is to plan ahead — and to automate the process.

You can, for example, set aside a certain amount for each paycheck that you get to automatically be deposited in separate checking or savings accounts designated for family support. These funds are already in place so you can support your family when needed without needing to draw on personal savings or budgets.

This program will help you. continue growing your wealthYou can be a wealth creator in your own family while also helping to lift up the community.

Recognizing your responsibility as a wealth-builder of the first generation is the first step to creating a balance strategy that will allow you to give back to the people you love.

— By Rianka R. Dorsainvil,  2050 Wealth Partners, co-founder and vice-CEO