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    Sep 16, 2024"In 2023, The New Wealth Agenda called on national leaders to commit to a bold objective: increasing the wealth of households of color and those in the bottom half of the wealth distribution tenfold by 2050," said Katherine Lucas McKay, Associate Director, Insights and Evidence, Financial Security Program. "Between 2019 and 2022 ...
  3. aspeninstitute.org

    80 percent of the wealth distribution possess less wealth than they did before the Great Recession2 and more than 12 percent of households have negative net worth.3 Equally alarming are the racial disparities. White households own 86.8 percent of the nation's overall wealth, as compared to Black and Hispanic households, who have only
  4. aspeninstitute.org

    May 26, 2023Data Correction (May 10, 2023): A previous version of this report inaccurately stated that median retirement assets among those with any retirement savings were $21,000 for the bottom half and $229,000 for the top half of the wealth distribution in 2019. It also mislabeled the year for its estimate of the percentage of cost-burdened renters as ...
  5. aspeninstitute.org

    2020 and 2040.14 Renters' wealth has increased in recent years (Figure 1), but as of 2022, nearly 90 percent of renter households remain in the bottom half of the wealth distribution.15 In Aspen FSP's 2023 publication, The New Wealth Agenda, we established our North Star goal: to increase by ten-fold the wealth owned by
  6. aspeninstitute.org

    By 2021, the top 10% of households by net worth owned 70% of the country's wealth. Between 2007 and 2019, household wealth declined for all but the top 20%, despite a historic period of GDP growth. The wealth divide is further explained by differences in ownership of key assets and debts. These disparities also contribute to widening racial gaps.
  7. aspeninstitute.org

    Sep 13, 2024In 2023's The New Wealth Agenda, we called on leaders across the nation to join us in pursuing an ambitious goal: increase tenfold the wealth of households of color and those in the bottom half of the wealth distribution by 2050.. At the time, we identified 8 objectives that, if collectively achieved, could fulfill this vision, and we also established indicators related to households ...
  8. aspeninstitute.org

    wealth—particularly in low-wealth households and households of color. Inside The New Wealth Agenda A stunning 51% of U.S. households have expenses that are at least equal to—if not greater than—their income, and 55% lack the necessary savings to weather a simultaneous income drop and expense spike. From page 1 of The New Wealth Agenda .
  9. aspeninstitute.org

    Nov 21, 2024"Wealth matters in fundamentally different ways than income in how it contributes to household financial well-being and economic mobility," said Ida Rademacher, Vice President and Co-Executive Director of Aspen FSP. "This report not only illuminates stark disparities in renter wealth, it also calls out the great need and opportunity we ...
  10. aspeninstitute.org

    underserved communities, including people with lower incomes and wealth, people of color, and those in rural areas. These disparities contribute to persistent inequities in broader economic measures. Improving inclusion in the financial system is critical to fostering financial resilience and well-being and addressing wealth inequality.
  11. aspeninstitute.org

    to close the racial wealth gap. About Opportunity in America Opportunity in America, an event series hosted by the Economic Opportunities Program, considers the changing landscape of economic opportunity in the US and implications for individuals, families, and communities across the country.
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