By Alex Camardelle | September 2025
This summer, I became a father for the first time. Holding my newborn son, I felt joy, hope, and a deep sense of responsibility. I thought about the world he’s inheriting, and a stark truth hit me: not every child starts life with the same financial foundation. Some are born with college funds or inheritances; others start with nothing. As a new dad, that reality hit home.
Wealth isn’t about extravagance; it’s about security, opportunity, and a solid start in life. But in the South, the gaps are glaring. For example, in my home state of Georgia, the average white family has about $180,000 in wealth, while the average Black family has around $22,000. Geography matters, too. In affluent Forsyth County, median household net worth exceeds $720,000, whereas in rural Chattahoochee County it’s roughly $15,000. These vast racial and rural wealth divides are the result of generations of inequality.
The Deep South has a deep racial wealth divide.as documented in our recent Roots of Wealth study. White households hold over 24 times more wealth than Black households on average due to centuries of exclusionary policies that denied Black families the chance to build wealth, from enslavement, to Jim Crow, to redlining, and even land theft.
Disparities like these don’t just hurt those families; they hold back our entire state. Georgia has one of the lowest rates of economic mobility in America. A child born into a low-income family here has less than a 5% chance of reaching the middle class. Without new solutions, too many kids will remain stuck in the cycle of poverty—no matter how hard they work.
Baby Bonds: Securing Georgia’s Future
One bold idea gives me hope for a fairer future: Baby Bonds. Put simply, Baby Bonds are publicly funded trust accounts for newborns – progressively seeded money invested on a child’s behalf to be used when they turn 18 for education, homeownership, starting a business, or other wealth-building goals. Unlike a private trust fund that only wealthy families can afford, Baby Bonds would ensure that are publicly funded trust accounts for newborns – seed money invested on a child’s behalf, to be used when they turn 18 for education, homeownership, starting a business, or other wealth-building goals. Unlike a private trust fund that only wealthy families can afford, baby bonds would ensure that every child has some capital to start adult life. child has some capital to start adult life.
Kindred Futures’ new report, Securing Georgia’s Future, shows how transformative this policy could be. Our research examined the impact of a universal Baby Bonds program with tiered contributions, meaning every Georgia newborn gets a deposit, with larger boosts for babies from lower-wealth families. We found that this program could create about $1.4 billion in new wealth per year’s birth cohort. By age 18, each eligible child could have up to $16,000 saved for their future. Rural counties would benefit most since they have the highest share of families with few assets. The program would also significantly narrow Georgia’s racial wealth divide.
Turning Momentum into Action
Georgia is moving toward the adoption of a Baby Bonds program. This year, state legislators introduced a baby bonds bill, signaling a growing belief that wealth-building must be part of how we fight poverty. Kindred Futures is working alongside the Georgia Resilience and Opportunity (GRO) Fund and the Georgia Budget & Policy Institute to advance this legislation as part of a
broad coalition. It’s heartening to see community leaders, policy experts, and everyday Georgians coalesce around such a transformational idea.
Now, as a parent and advocate, I’m asking you to join us. Support state-level Baby Bonds legislation in Georgia by telling your state representatives that every child deserves a fair start. Spread the word in your community about closing the wealth divide and get involved with coalition efforts to make Baby Bonds a reality. Together, we can give every baby a chance to build wealth, help close the racial wealth divide, and create a more prosperous Georgia for generations to come. Let’s invest in our children now to secure Georgia’s future for all.