Less Than Equal: Racial Disparities in Wealth Accumulation

On April 30, 2013, in Diversity, Labor, Social Issues, by editor2

Urban Institute. April 26, 2013.

Income inequality understates the size of the economic gap between whites and minorities in the United States. In 2010, whites on average had two times the income of blacks and Hispanics, but six times the wealth. Analyses of wealth accumulation over the life cycle show that the racial wealth gap grows sharply with age. Wealth isn’t just money in the bank, it’s insurance against tough times, tuition to get a better education and a better job, savings to retire on, and a springboard into the middle class. [Note: contains copyrighted material].

http://www.urban.org/UploadedPDF/412802-Less-Than-Equal-Racial-Disparities-in-Wealth-Accumulation.pdf [PDF format, 6 pages].

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Growing the Wealth: How Government Encourages Broad-Based Inclusive Capitalism

On April 11, 2013, in Economy, Labor, by editor1

Center for American Progress. April 2, 2013.

American companies use a variety of financial incentives, from broad-based profit sharing and stock options to worker cooperatives and employee stock ownership plans, to reward their employees with a portion of the wealth those workers help generate. This kind of compensation goes well beyond simply paying wages or providing individual incentives, but rather involves granting workers ownership stakes in the company or a share of its profits based on workers’ collective performance, a concept the authors describe as inclusive capitalism. [Note: contains copyrighted material].

http://www.americanprogress.org/wp-content/uploads/2013/04/InclusiveCapitalism.pdf [PDF format, 58 pages].

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Making Sure Money Is Available When We Need It

On March 29, 2013, in Economy, Social Issues, by editor1

Center for American Progress.  March 25, 2013.

Household wealth—the difference between a household’s assets and its debt—is a crucial aspect of economic security. It allows households to pay for necessities during an economic emergency, and it permits families to invest in their future—pay for their children’s or their own education, start a business, switch jobs, move to advance their careers, and plan for a secure retirement. This report considers data on household wealth—and particularly, household-level data for older nonretirees—to see if household risk exposure, on average, has become excessive and if policymakers should therefore consider encouraging better risk management strategies for savers. The comparison of household risk exposure over time—specifically, from 1989 to 2010—and between household groups can provide a general indication of whether risk has been more poorly managed in recent years, thus becoming excessive. [Note: contains copyrighted material].

http://www.americanprogress.org/wp-content/uploads/2013/03/WellerMiddleClass.pdf [PDF format, 44 pages].

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Lost Generations? Wealth Building among Young Americans

On March 29, 2013, in Economy, Social Issues, by editor1

Urban Institute. March 15, 2013.

Despite the Great Recession and slow recovery, the American dream of working hard, saving more, and becoming wealthier than one’s parents holds true for many. Unless you’re under 40. Stagnant wages, diminishing job opportunities, and lost home values may be painting a vastly different future for Gen X and Gen Y. Today’s political discussions often focus on preserving the wealth and benefits of older Americans and the baby boomers. Often lost in this debate is attention to younger generations whose wealth losses, or lack of long-term gains, have been even greater. [Note: contains copyrighted material].

http://www.urban.org/UploadedPDF/412766-Lost-Generations-Wealth-Building-Among-Young-Americans.pdf [PDF format, 3 pages].

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The Sandwich Generation: Rising Financial Burdens for Middle-Aged Americans

On February 7, 2013, in Economy, Social Issues, by editor1

Pew Research Social & Demographic Trends. January 30, 2013.

With an aging population and a generation of young adults struggling to achieve financial independence, the burdens and responsibilities of middle-aged Americans are increasing. Nearly half (47%) of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). And about one-in-seven middle-aged adults (15%) is providing financial support to both an aging parent and a child. [Note: contains copyrighted material].

http://www.pewsocialtrends.org/files/2013/01/Sandwich_Generation_Report_FINAL_1-29.pdf [PDF format, 31 pages].

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