Does Education Narrow the Gap in Wealth Among Older Adults, by Race and Ethnicity?

Brief

Does Education Narrow the Gap in Wealth Among Older Adults, by Race and Ethnicity?

Abstract

Income and wealth inequality persists across generations, adversely affecting people in communities of color at all ages. Older Black and Hispanic adults face their retirement years with less financial security and fewer resources to absorb the financial shock of a major health expense compared to older White adults. With fewer financial resources, Black and Hispanic seniors are less able than White older adults to help their adult children cover unexpected expenses, afford their first home, or pay for college. In this analysis, we explore racial income and wealth gaps among older adults with similar levels of education, both overall and by age and gender.

External Link:

https://www.kff.org/medicare/issue-brief/does-education-narrow-the-gap-in-wealth-among-older-adults-by-race-and-ethnicity/

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