Caribbean Music Awards, Wyclef Jean

Wyclef Jean Releases Song With Pusha T, Flau’Jae, Lola Brook To Combat Retirement Wealth Gap

Wyclef Jean is continuing his advocacy for pushing Black Americans toward a financially secure retirement with the release of his song, “Paper Right.”

Wyclef Jean is continuing his advocacy for pushing Black Americans toward a financially secure retirement with the release of his new music collaboration, “Paper Right.”

The hip-hop track sees The Fugees icon team up with rappers Pusha T, Flau’Jae, Lola Brook, and singer Capella Grey for a song aimed at closing the retirement gap. For African Americans and the youth, too many Americans are not on track to reach a financially secure retirement. 

TIAA, a leading provider of secure retirements, found that approximately 41% of individuals between the ages of 24 and 35 fail to utilize or contribute to their employer-sponsored retirement plan. To combat this, the organization collaborated with prominent figures in hip-hop to craft an anthem shedding light on savings and retirement disparities, with a mission to address and overcome these challenges.

Wyclef Jean created “Paper Right” to motivate younger generations to reflect on their financial legacy and retirement potential through the power of music, particularly hip-hop.

“The most important thing is the access of information for these rural communities because they don’t get that,” Wyclef tells BLACK ENTERPRISE. “So when you look at the population, when you do the statistics, and you look at just Black families alone, it’s over 54% with no retirement plan.”

Considering hip-hop’s long history of shedding light on the challenges that disproportionately impact the Black community, TIAA launched the #RetireInequality campaign to highlight the retirement and savings gaps faced by Black Americans. This includes the alarming statistic that 54% of Black Americans lack sufficient savings to uphold their standard of living in retirement, further contributing to the overall retirement crisis in America.

“If you understand this then you understand if we don’t step in and start to do something, that entire idea of generational wealth is completely gone forever,” Wyclef says.

“Paper Right” initiates crucial discussions on retirement, prompting proactive steps to address retirement gaps, enhance financial education and literacy, and eliminate inequality in retirement. As part of the song’s release, TIAA is collaborating with First Generation Investors (FGI), a non-profit committed to empowering underserved high school students with investing literacy. Streaming the track automatically directs 100% of the song’s sales towards FGI, contributing to financial education and investing literacy for upcoming generations.

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