Brief Less Than Equal: Racial Disparities in Wealth Accumulation
Signe-Mary McKernan, Caroline Ratcliffe, C. Eugene Steuerle, Sisi Zhang
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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.

Research Areas Economic mobility and inequality Wealth and financial well-being Social safety net Race and equity
Tags Low-Income Home Energy Assistance Program (LIHEAP) Asset and debts Racial and ethnic disparities Income and wealth distribution Inequality and mobility Racial barriers to accessing the safety net Racial inequities in economic mobility Racial wealth gap Financial stability
Policy Centers Center on Labor, Human Services, and Population