Wealth—a family’s financial net worth—measures how well people are prepared for the future. It allows them to purchase a home, start a business, enjoy a secure retirement, and put their children through school. Wealth also provides security in the face of emergencies, for example, allowing people to pay for unexpected health bills or pay bills following a layoff. Wealth is essential to giving families peace of mind.
Unfortunately, the accumulation of wealth in America is highly unequal. Wealth is increasingly unevenly distributed by race and ethnicity.1 White families in America have a median wealth of $142,180, compared with $20,765 for Latinx* families.
This large wealth gap leaves Latinx families economically insecure with fewer opportunities for upward economic mobility. READ MORE AT CENTER FOR AMERICAN PROGRESS
Comments