Inside Philanthropy highlights AFN’s role in injecting ” new energy into asset-building as a philanthropic strategy” and the collective work of its members to advance economic mobility — “whether people are able to increase wealth over time and across generations — and on putting forward solutions that change the systems that shape those outcomes.”
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Antolín’s perspective is a reminder that the most financially literate parents can only do so much if they lack the disposable income to contribute to their child’s savings account. This brings us back to the final piece of the asset-building equation.
Addressing the upstream barriers that can contribute to a family’s ability to build wealth “means more than just focusing on the [savings] account itself,” said Antolín. For the AFN, that means, among other potential philanthropic interventions, supporting living-wage work, advancing tax policy and guaranteed income programs that can reduce income volatility, and increasing access to affordable lending for homeownership and small-business creation.
