Education Affects U.S. Wealth Demographics

The new study released by Fed detailed the demographics of wealth in the U.S. According to the study, the demographics did not change much over time. Except that it did:

“Asian families’ median income already has surpassed that of whites, while Asians’ median wealth soon will surpass the white median level,” a new report out from the Federal Reserve Bank of St. Louis finds. An Asian family had an inflation-adjusted median wealth of $91,440 in 2013, up almost 43 percent from 1989, it found using data from the Fed’s Survey of Consumer Finances. That compares with a 3 percent increase to $134,008 for whites.

The answer to this change in demographics, the study suggests, is education. On average, over 70 percent of Asians completed a degree certification post high-school – that is more than any other race in the U.S.

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