Historically, women of color have experienced a wealth gap in the United States. A 2016 study found that Black women earn 65% as much as white men, and Hispanic women earn 58% as much.
J.P. Morgan Wealth Management conducted a study of 1,000 Americans over the age of 25 with at least $25,000 in investment assets, in order to get an understanding of the state of investing for women of color. And here’s some good news: The results were somewhat encouraging.
The key takeaways:
- Growing knowledge: 68% of Black women and 52% of Hispanic and Latina women say they are more knowledgeable about investing than they were five years ago.
- Increasing investments: This year, 83% of women are investing the same or more than they were last year, compared to 74% of men.
- Motivated by others: 68% of Black and Latina women say they are motivated to invest in order to pass wealth to future generations, while 66% of Black women and 70% of Latina woman say they want to invest to support their family and friends.
“Over the last several years, we’ve seen a growing democratization of educational resources and investing solutions across the industry,” said Kira Forbes, Black, Hispanic, and Latino team lead for J.P. Morgan Wealth Management Inclusive Investing. “While there are still opportunities to address, it’s promising to see the knowledge growth in these groups because it signals a step in the right direction in the journey to close the racial and gender wealth gaps.”
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the final deadline, June 7.
Sign up for Brands That Matter notifications here.
