Race, Wealth, and Retirement Across the United States
Addressing the racial wealth gap in this country will require extensive structural changes over the coming decades. Recent data from the Federal Reserve shows that, even before the global COVID-19 pandemic, the median White household had $306,000 in total assets compared to the median Black and Hispanic family which had $53,000 and $71,800, respectively.
Shrinking the racial wealth gap demands a multi-faceted response. And as part of that, we must address retirement security. Right now, the retirement system is not working for all Americans. It perpetuates wealth and racial inequality across generations, and it prevents people from retiring with dignity and financial security. This infographic looks at race, wealth, and retirement in the United States.