Читать книгу Financial Adulting - Ashley Feinstein Gerstley - Страница 26

Farnoosh Torabi, financial expert and host of the So Money podcast, calls the racial wealth gap a “wealth chasm,” because that's more reflective of the size of the gap.

So what is this wealth chasm? Mehrsa explains that “across every income and education level, there's a massive racial wealth gap.” The average white family has a median net worth of $188,200 compared with $24,100 for Black families, $36,100 for Hispanic families, and $74,500 for groups of all other races/ethnicities.⁵ Dasha shares that the richest 400 Americans have more wealth than all the Black households in the United States combined. That's the chasm.

Let's break it down in numbers.

Disparities in Wealth Gap by Race and Ethnicity

*Other families – a diverse group that includes those identifying as Asian, American Indian, Alaska Native, Native Hawaiian, Pacific Islander, other race, and all respondents reporting more than one racial identification – have lower wealth than white families but higher wealth than Black and Hispanic families.

Source: Federal Reserve Board, 2019 Survey of Consumer Finances.

Because the “Other” category includes such a diverse group, it's important to note that there are large wealth disparities within the Asian American Pacific Islander (AAPI) community. A 2016 study of Los Angeles showed that while Japanese, Asian Indian, and Chinese households had a higher median wealth than white households, Koreans, Vietnamese, and Filipinos had 15×, 6×, and 1.5× less wealth, respectively.⁶ As of 2000, American Indian households had a wealth gap to white households of 11×.⁷

These numbers were taken before the onset of the COVID-19 pandemic, which disproportionately impacted communities of color financially, so these numbers are most likely worse than the study indicates. Reports say that with current policies in place, it will take 228 years to close the gap.⁸