Black household wealth, financial planning have risen
Submitted on October 31, 2003 - 1:00am.
Brynn Grimley - Fall 2003
WASHINGTON – The gap between African-American household wealth and that of the rest of the population has shrunk in the last 10 years, but experts are worried black families still aren't planning far enough into the future.
At a press conference Wednesday, representatives of the Consumer Federation of America, BET.com and the Fannie Mae Foundation talked about the numbers, drawn from the Federal Reserve Survey of Consumer Finances data.
In 1989, the average African-American household net wealth was $6,000. By 2001, net wealth increased 221 percent to $19,000.
At a press conference Wednesday, representatives of the Consumer Federation of America, BET.com and the Fannie Mae Foundation talked about the numbers, drawn from the Federal Reserve Survey of Consumer Finances data.
In 1989, the average African-American household net wealth was $6,000. By 2001, net wealth increased 221 percent to $19,000.
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