Many multicultural investors, untrusting of Wall Street, look beyond the stock market and instead to real estate and entrepreneurship to build wealth. Given the recent market volatility, one might think that’s been wise.
A recent UBS survey titled “Invest to advance,” explores the investing habits of Black, Asian, Hispanic and Latino Americans. The survey found that just 26% of Black Americans with at least $1 million in financial assets were invested in stocks. Among Asian Americans, employment wages were by far the greatest drivers of wealth creation. Hispanic and Latino respondents indicated that they derived less than a third of their wealth from traditional investing.
Far too many multicultural investors don’t feel a “fit” within traditional financial services and markets. Because of that, some are missing out on important aspects of achieving multigenerational wealth and prosperity. While there are many paths to financial well-being, stock market participation is an…
Read the full story from the Washington Business Journal.
