Despite being the most diverse group in the nation’s history, today’s young adults are often viewed as a monolithic group. A detailed look at their financial health tells a different story, however.
In this webinar, we explore these key findings from the recently released report “Race, Ethnicity, and the Financial Lives of Young Adults,” along with solutions that can dismantle systemic barriers and improve financial health for all.
- On average, Black and Latinx young adults have less liquid savings than their White and Asian American peers
- Black and Latinx young adults are more likely than their White and Asian American counterparts to say they have unmanageable and costly debt
- The enduring racial wealth gap has denied Black and Latinx young adults the ability to build wealth through generational transfers from their families
- There is a confidence gap between Latinx young adults and their Black, White, and Asian American peers about long-term financial goals and insurance coverage