Although the term racial wealth gap technically refers to the difference in assets owned by different racial or ethnic groups, this gap results from a range of economic factors that affect the overall economic well-being of these different groups. The term reflects disparities in access to opportunities, means of support, and resources. Federal surveys reveal that a large disparity exists among these racial and ethnic groups in the United States. Data from the 2019 Survey of Consumer Finances examining assets such as savings, investments, retirement and pensions, and especially homeownership, reveal that White families had eight times the wealth of Black families and five times the wealth of Hispanic families. Data on "other families"—a diverse category that includes Asians, indigenous peoples, Native Hawaiians, and those who report more than one racial identification, among others—showed that they had less wealth than White families but more than Hispanic and Black families.2 The somewhat greater emphasis on the status of Black Americans corresponds to the larger number of studies and more detailed information analyzed and available with respect to it.Become a supporter of this podcast: https://www.spreaker.com/podcast/investment-terms--4432332/support.

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