Observers assert that the embarrassingly large racial wealth gap will eventually shrink as non-whites catch up to whites, for instance, due to more education, business ownership and other key factors. But the data for the wealthiest households show that even at the top rather than catching up, non-whites or Latinos are actually falling further behind .
Wealth is a means for households to achieve greater economic mobility and economic security. Households can use their wealth to move to a more desirable neighborhood, switch jobs when new and better opportunities arise, start a business and send their kids to college. And wealth allows households to better weather an emergency such as a layoff and a medical emergency.
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