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The Demographics of Wealth - How Age, Education and Race Separate Thrivers from Strugglers in Today's Economy. Essay No. 1: Race, Ethnicity and Wealth
This first essay in the "Demographics of Wealth" series examines the connection between race or ethnicity and wealth accumulation over the past quarter-century. As with subsequent essays, this one is the result of an analysis of data collected between 1989 and 2013 through the Federal Reserve's Survey of Consumer Finances. More than 40,000 heads of households were interviewed over those years.
AUTHORS: Noeth, Bryan J.; Emmons, William R.; Boshara, Ray
The Demographics of Wealth - How Age, Education and Race Separate Thrivers from Strugglers in Today's Economy. Essay No. 3: Age, Birth Year and Wealth
Although there may be downsides to old age, those 62 and older can take heart in knowing that the odds are in favor of their being wealthier than younger people. And the gap has widened considerably over the past quarter-century?in favor of old people. That said, being old isn?t what it used to be. Baby boomers, who are now retiring in droves, are likely to be less well-off than their ?old? counterparts in the two previous generations. And it looks as if members of the next two generations ? Generation X and Generation Y (the millennials) ? might also end up less wealthy than the generation before them.
AUTHORS: Boshara, Ray; Noeth, Bryan J.; Emmons, William R.
The Demographics of Wealth - How Age, Education and Race Separate Thrivers from Strugglers in Today's Economy. Essay No. 2: The Role of Education
New research by the Center for Household Financial Stability shows that there's a strong correlation between education and money. More of the former often leads to more of the latter. However, correlation is not causation?there is no guarantee that more education will lead to more wealth. Many other factors might be in play, such as natural ability, family environment, inheritances and even health. It's entirely possible that what's learned in the classroom has much less influence on lifetime earnings and wealth accumulation than most people believe. In fact, your ability, family background, inheritances or health might be responsible for some?perhaps a large part?of your success even if you hadn't received the education that you did.
AUTHORS: Noeth, Bryan J.; Boshara, Ray; Emmons, William R.