Asset Holdings, Disparities By Race/Ethnicity

Demographic and socioeconomic characteristics are related to which assets households own. Levels of income and wealth, age, educational attainment, gender, health, household structure, ethnicity, culture, and attitudes toward financial risk taking are some of the heterogeneous characteristics that explain participation in different asset classes. When comparing asset participation of the majority of the population with that of minority groups as identified by race or ethnic background, disparities are partly due to socioeconomic disadvantage and cultural differences.

Overview of Household Asset Ownership

Household portfolios tend to be very simple, with most households holding fewer than five assets, which tend to be safe assets like transaction accounts, savings accounts, term/time deposits, and life insurance. Participation rates in other financial assets like bonds and life insurance vary greatly between countries, ...

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