by Michael E. Collins, Jr. | June 13, 2025

Each year, as Juneteenth approaches, I find myself reflecting on what freedom means in practice. Freedom is not just a moment in history or a celebration. It’s a call to action. A reminder that economic freedom must be part of the conversation if we’re truly committed to liberation.

Baby Bonds offer us a promising path toward that freedom–not symbolic freedom, but structural freedom that is both financial and material. The kind of freedom that allows young adults to dream and build. I believe in Baby Bonds because they’re not charity. They correct a system that has never been fair. 

Baby Bonds are more than a policy; they are a bold promise that every child, no matter what financial situation they’re born into, can have a shot at reaching their highest potential. 

Financial freedom isn’t just theoretical to me, as I often think about how different things might have been if Baby Bonds existed when I was growing up. Scholarships helped, but they didn’t cover my living expenses.  Working two, sometimes three, jobs became necessary just to stay afloat. Baby Bonds wouldn’t have solved everything, but they would have provided breathing room. They would’ve helped me focus, build, and feel less alone in the fight to simply make it day-to-day.

What makes Baby Bonds particularly transformative is their design. It’s not just a one-time account, but a progressive investment where families with less receive more. That’s what equity looks like: a model that advances justice rather than blanket equality. To be clear, this is not about handouts. Baby Bonds create the infrastructure for opportunity.

At the National Urban League, we’ve spent decades working to advance economic mobility and close racial wealth gaps. Baby Bonds offer something different – a complementary evolution of our ongoing advocacy and programmatic work supporting working adults. They proactively shift the starting point so individuals do not have to play catch-up later in life. Baby Bonds honor the dignity of individuals’ financial future before the world tries to define their worth.

Juneteenth reminds us that freedom came late and wasn’t given freely – it had to be claimed. In a similar spirit, Baby Bonds are a tool for combating injustice and its lasting impacts. They commit us to a future where individuals soar, instead of setting them up to struggle.

There’s been a surge of discussion recently about new wealth-building proposals, but the reality is that those proposals don’t meet the moment. Under one prevailing design, a young person from a wealthy family could end up with over $150,000. A low-income child? Maybe $2,500. That’s not an innovation – it’s a reinforcement of the status quo. And while those accounts may bring attention to the issue, such proposals don’t bring us closer to a solution. They reinforce the very inequities we fight to resolve every day.

Conversely, Baby Bonds are responsive and targeted. The program is designed in a way that acknowledges that wealth in this country has always been unevenly distributed by race, income, and design. Baby Bonds correct that in a manner that is neither perfect nor complete, but meaningful.

I want to live in a country where individuals aren’t limited by their birth zip code. I want to find solace in the fact that any 18-year-old has the economic power to go to college, start a business, or put a down payment on a home – not  just the ones whose family can afford it. I want to embrace a society that chooses to invest in young people and helps them achieve financial freedom.

The pursuit of freedom is a collective effort undertaken with courage for the benefit of future generations. As we observe Juneteenth, let us renew our commitment to the ongoing work of making freedom a reality – one we do not simply commemorate or pass down but proactively fashion. 

Michael E. Collins, Jr. currently serves as Vice President of Housing and Financial Capability at the National Urban League, where he leads national efforts to expand housing access, build financial security, and advance wealth equity in underserved communities. A trusted advisor to philanthropic, corporate, and government partners, he also serves on the National Baby Bonds Steering Committee and the board of the Urban Empowerment Federal Credit Union.