Creating Wealth: What Does Success Look Like?

Event Details

Event Date

Oct 09

Event Time

11:30 am — 1:00 pm

Location

Federal Reserve Bank

As part of PIDC's year-round Business Builder workshops, this special series covers a variety of topics taught by Hispanic and Latino experts, in Spanish and English. This event is available in Español on October 8, 2024 at MaKen Studios North.

PROGRAM

Wealth can be expressed in a variety of ways. It can be the accumulation of physical or liquid assets. In essence, it is the ability to pass assets on to future generations. In recent years, generational wealth has become a central point in discussions about the ever-widening wealth gap between white communities versus communities of color. According to the 2019 Survey of Consumer Finances conducted by the Board of Governors of the Federal Reserve System, Black and Hispanic/Latino households on average own only about 15% to 20% of net wealth. White households own 86.8% of total wealth in the United States. In comparison, Black and Hispanic households own only 2.9% and 2.8% of wealth, respectively. According to the 2020 PEW Charitable Trust report on the state of the City of Philadelphia, it shows that in 2020, Philadelphia’s poverty rate was 24.5% for Black families and 17% for Hispanic families, while for non-Hispanic whites it was 8.2%. We invite you to participate in this workshop to learn about this important topic and how wealth creation relies on planning and proper financial knowledge to achieve your financial goals.

REGISTER

Coming soon

PRESENTER

Ashley Putnam
Director of Economic Growth & Mobility Project (EGMP)
Federal Reserve Bank of Philadelphia

Maridarlyn Gonzalez
Senior Research Associate
Philadelphia Research & Policy Initiative
The Pew Charitable Trusts