Webinar

The State of the American Dream: Debt, Income, and Savings and Perceptions of Wealth by Demographic Characteristics

What’s keeping low to moderate income workers from building wealth? How does this differ by demographic characteristics?

Despite decades of careful attention, wealth inequality is on the rise. Addressing wealth inequality remains not just an economic imperative but is essential for ensuring that the American Dream remains within reach for all. A 2024 survey conducted by Pew Charitable Trusts examined financial goals, wealth perceptions, and challenges to building wealth across White, Black, and Hispanic populations in the United States. The data reveals both shared concerns and distinct differences among racial groups and provides deep and impactful consumer-based insights to inform strategic investments and interventions. Findings show that everyday challenges make it difficult for many workers, especially those of color, to plan for and achieve wealth, but accumulating assets remains an aspiration for many in the survey. Among the key findings:

  • Debt remains a key barrier to saving.
  • Balancing budgeting for emergencies and long term savings, like retirement remains key.
  • There is a role of philanthropy to drive employer adoption of Secure Choice and retirement support
  • Black and Hispanic respondents do not feel wealthy relative to White respondents.
  • For many, income and needs based spending does not allow for families to pay off debt and save for the future. Yet, building wealth remains important.

Please join Asset Funders Network and Pew Charitable Trusts for a briefing and fireside chat as we explore these findings and how they inform strategic philanthropic investments to support economic equity and expand savings and investment opportunities for all.

Speakers:

Joseph Antolin, President and Chief Executive Officer, Asset Funders Network
John Scott, Project Director Retirement Savings, Pew Charitable Trusts

Captioning will be provided. If you have any other accessibility requests or questions, please email Paula Dworek at paula@assetfunders.org. Requests for reasonable accommodations must be received by February 24, 2025, to ensure our ability to meet your request.