If I asked you: would you rather have over a million dollars or 160 thousand in thirty
If I asked you: would you rather have over a million dollars or 160 thousand in thirty

years, what would you choose?
years, what would you choose?

Now consider this: what if, for every dollar you earned, someone else earned two?
Now consider this: what if, for every dollar you earned, someone else earned two?

How about if for every dollar of wealth you gained, someone else gained six?
How about if for every dollar of wealth you gained, someone else gained six?

In 1983, whites in their thirties had an average net worth of 184,000 dollars.
In 1983, whites in their thirties had an average net worth of 184,000 dollars.

Today, these whites, who are in their early sixties, have accumulated 1.1 million dollars
Today, these whites, who are in their early sixties, have accumulated 1.1 million dollars

in wealth.
in wealth.

In contrast, blacks have seen their wealth go from 54,000 dollars to 161,000 and Hispanics
In contrast, blacks have seen their wealth go from 54,000 dollars to 161,000 and Hispanics

from 46,000 dollars to 226,000.
from 46,000 dollars to 226,000.

The racial wealth gap grows sharply with age.
The racial wealth gap grows sharply with age.

Over the past three decades, wealth disparities continued to worsen.
Over the past three decades, wealth disparities continued to worsen.

Though the United States is one of the wealthiest countries, to many Americans this prosperity
Though the United States is one of the wealthiest countries, to many Americans this prosperity

remains out of reach.
remains out of reach.

Blacks and Hispanics, who strive to make a better life for themselves and their families,
Blacks and Hispanics, who strive to make a better life for themselves and their families,

do not have the same asset building opportunities.
do not have the same asset building opportunities.

They are less likely to own homes and retirement accounts, so miss out on these traditionally
They are less likely to own homes and retirement accounts, so miss out on these traditionally

powerful wealth building tools.
powerful wealth building tools.

“Wealth is where economic opportunity lies.”
“Wealth is where economic opportunity lies.”

Setting up automated savings, drawn from your income, allows you to build wealth—through
Setting up automated savings, drawn from your income, allows you to build wealth—through

education, your home, or your retirement savings.
education, your home, or your retirement savings.

Lack of assets, on the other hand, means a difficult life -- when a rainy day hits, you’re
Lack of assets, on the other hand, means a difficult life -- when a rainy day hits, you’re

unable to pay bills and don’t have enough food to eat.
unable to pay bills and don’t have enough food to eat.

Our social safety net targets the day-to-day costs of living.
Our social safety net targets the day-to-day costs of living.

But without fair policies, such paths to building wealth vanish.
But without fair policies, such paths to building wealth vanish.

Today, these avenues are harder to access because it’s tougher to qualify for home
Today, these avenues are harder to access because it’s tougher to qualify for home

loans.
loans.

To make matters worse, wealth disparities are passed from generation to generation.
To make matters worse, wealth disparities are passed from generation to generation.

Black and Hispanic families are five times less likely than white families to inherit
Black and Hispanic families are five times less likely than white families to inherit

money that can help with down payments on a home.
money that can help with down payments on a home.

In order to narrow the racial wealth gap, we need to lower the barriers to building
In order to narrow the racial wealth gap, we need to lower the barriers to building

assets.
assets.

Here’s where things stand: in 2009, over half the 400 billion dollars the federal government
Here’s where things stand: in 2009, over half the 400 billion dollars the federal government

spent encouraging families to build assets went to the top 5 percent of income-earners.
spent encouraging families to build assets went to the top 5 percent of income-earners.

Meanwhile, low-income families received next to nothing.
Meanwhile, low-income families received next to nothing.

Now imagine you have the same opportunity to earn income and gain financial security
Now imagine you have the same opportunity to earn income and gain financial security

as anyone else.
as anyone else.

If that’s the course we want to set, wealth is where the economic opportunity lies.
If that’s the course we want to set, wealth is where the economic opportunity lies.