What are your chances of becoming a millionaire? Race Matters… Unfortunately!
Everyone’s chances of wealth increase with more education, the researchers found. However, members of some races benefit from it more than others.
The odds of becoming a millionaire increase significantly for whites and Asians with each degree they attain, while those same degrees don’t have as much of an impact on the chances of Hispanics and blacks.
Athletes are rare breeds and everyone cannot become a multi-million dollar by joining a professional sports team. That is not realistic and therefore it is not duplicatable. Watch the video below to see what your odds are based on race! Maybe being happy is more attainable than being rich!
Earlier research by Emmons and his colleagues found that college-educated blacks and Hispanics were much financially worse off after the Great Recession, while whites and Asians didn’t see as large a hit. One possible reason: Black neighborhoods haven’t seen the same type of housing recovery in the post-recession years as white areas, which means black homeowners (many of whom may have college degrees) have seen their wealth wither since 2008.
By Janell Hihi