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Creating and supporting more Black-owned businesses is one step to reducing the racial wealth gap in the US, according to a new study. Around 70% of Americans work for small businesses that employ ...
We spoke to financial educators, counselors and estate-planning attorneys to learn how people of color can help close the wide racial wealth gap while preserving their assets for future ...
The racial wealth gap could be reduced by 10% over three generations if Black households wrote wills at the same rate as white ones, according to a recent study.
The Black Economic Alliance — an organization focused on advancing economic progress in Black communities through improving economic outcomes in work, wages and wealth — is committed to ...
The root cause of the racial wealth gap is debated within the academic literature, with income inequality and differences in savings and homeownership rates being offered as potential causes. Even among quantitative studies, the percentage of the racial wealth gap attributed to any one of these causes varies widely. [2]
“To close the racial wealth gap, I recommend Black women discuss a variety of topics with their friends, and also be open to sharing their own personal financial planning journey,” she said ...
It launched a small business grant program that provided more than $200 million in grants to over 16,000 small businesses. The majority of the businesses supported with minority- and women-owned. It also launched a new $1B initiative over the next 10 years to help close the racial wealth, health and opportunity gap. [48]
The racial wealth gap is also harming the US economy, costing up to $1.5 trillion each year. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways ...