Ex-Eagle Malcolm Jenkins is teaching Philly kids how to build wealth. And that’s a good thing. | Jenice Armstrong

I cringe every time I read that the average white family has 10 times the net worth of a typical Black family, according to the Brookings Institution.

That’s a sad reality and it’s also one we don’t talk enough about.

“It’s projected that by 2053 that African Americans will have on average a negative net worth, with Hispanics being right behind,” former Eagles safety Malcolm Jenkins pointed out last week. “How do we begin to chip away at that? The earlier you can get kids focused on saving money and investing and understanding how to make money, the better off you are.”

Jenkins — who recently started Broad Street Ventures, a venture capital firm funded by Black and brown investors — raises a good point. But getting underprivileged youth on the road to saving is a whole other challenge, especially in a city as poor as Philadelphia.

So, kudos to Jenkins, who now plays for the New Orleans Saints, for stepping up to help 300 local high school students get started by giving them money to open their own savings accounts.

The Malcolm Jenkins Foundation is offering $40 to every Parkway Northwest High School for Peace and Social Justice student who creates an account with the Goalsetter, a free mobile banking app geared toward youngsters. The Ogontz Revitalization Corporation will donate an additional $10 per student, bringing the total to $50. Students can make deposits, but they won’t be able to withdraw funds until they are 18. Goalsetter will also introduce them to financial literacy.

When I met with Jenkins and his mother, Gwendolyn, over Zoom last week to talk about what he’s doing, I caught myself smiling.

I have a lot of respect for the work Jenkins has done in the field of social justice. These are tough times in Philly. More than 50 children have been shot this year. A Parkway student was among them. Tragedies like these make kids wonder if they will even live to adulthood. What Jenkins has done by funding their accounts is reassure them that they have a future and that he’s willing to help them prepare.

“Malcolm is saying, ‘I want you to know that this is for the long term. You’re going to be saving for your future because you do have a future and it’s a future that we’re going to help to prepare you for,’ ” said Tanya Van Court, founder and chief executive of Goalsetter. “When there are so many things that are bad that are happening …kids are struggling with anxiety and depression because they’re staying at home every day. Sometimes it is that vote of confidence, that gift of foresight, that is helping kids understand that it won’t always be this way and that their future is bright.”

In February, Van Court teamed up with the Phoenix Suns’ Chris Paul and other NBA players to help “draft” new school-age users of the Goalsetter app. She met Jenkins after approaching the Players Coalition about NFL players getting involved. Van Court hopes more athletes will come aboard.

High school students who have savings accounts in their own names are six times more likely to attend college, according to a University of Washington study.

Jenkins said he was well into his NFL career before he started getting savvy about his finances.

“I was always taught that if you work hard and that if you save your money that that creates financial freedom and financial stability, and that’s not how it works,” he told me. “That’s not how you gain freedom. It comes through investing. It comes in making good decisions. It comes from estate planning. Life insurance. All of these different financial tools that are out there to create wealth for people. It’s really about creating that education as early as possible so you create the next generation of financially stable people.”

Teaching kids about saving and investing is a step in that direction.