Assuming the mantle of the Freemen’s Bureau
The Bureau of Refugees, Freedmen, and Abandoned Lands, usually referred to as simply the Freedmen's Bureau, was a U.S. government agency of early post American Civil War Reconstruction, assisting freedmen in the South. American Freedmen Foundation is building a platform to continue this critical work, specifically by implementing a plan to close the wealth gap in one generation.
3 Pillars of the Platform
Endowment
A permanent capital structure that uses a multi-asset, multi-stage strategy to increase productive capacity and generate income from assets like an endowment or pension fund. So instead of getting a one-time payment, recipients would get consistent dividends for life.
Insurance
Instead of direct cash payments, a potentially taxable event, each recipient would receive contributions to a permanent life insurance policy with a cash balance earning a guaranteed dividend. This cash balance will grow exponentially over time with the power of compounding, and can be borrowed against.
Financial Services
Each recipient will have an online account where they will be able to see information related to their insurance policy, request a loan against their cash balance, manage investments, estate planning, and a range of other financial and tax services to help them pass on generational wealth.
Guaranteed Wealth vs Guaranteed Income
One’s financial wellbeing is best determined by wealth vs income. Wealth can be used to generate income, so guaranteeing wealth is a more sustainable and resilient option to address wealth gaps instead of guaranteeing income and hoping it gets converted to wealth at some point. Resilience is the difference between the cause and the effect. It’s very easy to cause the effect of a disruption in income; after a certain wealth level, it is much more difficult to disrupt. The AFF Guaranteed Wealth Program® also reduces the burden of government and philanthropy on continuing payments into perpetuity, because contributions to individual recipients stop after a certain point and compound interest takes over from there.
