Income inequality understates the size of the economic gap between whites and minorities in the United States. In 2010, whites on average had two times the income of blacks and Hispanics, but six times the wealth. Analyses of wealth accumulation over the life cycle show that the racial wealth gap grows sharply with age. Wealth isn't just money in the bank, it's insurance against tough times, tuition to get a better education and a better job, savings to retire on, and a springboard into the middle class.
Interactive Chart: The Racial Wealth Gap Is Three Times Greater Than the Racial Income Gap
To see more research on wealth and the great recession, including our study on wealth building among young Americans, see our page, The Changing Wealth of Americans.
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