Not even high-earning Black Americans can escape the racial wealth gap - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Black Americans may be graduating college and entering high-earning professions at higher rates, but the racial wealth gap persists no matter your income. Amid the recent protests and outcries for racial justice following the videotaped killing of George Floyd in Minneapolis, I have found myself both a willing participant and an unintentional bystander to several conversations about race in the United States. And while I can appreciate that these sorts of watershed moments in history tend to bring about substantial change to our social order, I have also been a bit disheartened by offhand comments by well-meaning allies who don't quite get it.

While it is true that Black Americans are graduating college and joining the white-collar workforce at higher rates than the generations that fought world wars and marched in Selma, there is still considerable ground to cover in our efforts to close the wealth gap and see some semblance of equality in this country.

How do Asians perform? Pew Trust Study on US Economic Mobility found individuals with higher test scores in adolescence are more likely to move out of the bottom quintile, and test scores can explain virtually the entire black-white mobility gap.

Wow! It's like different groups of people have different traits and behaviors.

Correct, because different groups have different financial habits.

Tell that to Michael Jordan and JZ.

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