Advancing Economic Mobility: Mindsets to Unlock Prosperity
An invitation-only event hosted by Aspen Institute Latinos and Society Program in collaboration with McKinsey & Company
According to McKinsey & Company’s 2021 report, “The Economic State of Latinos in America: the American Dream Deferred”, Latino wealth has grown by an average of around 7 percent annually for the past 20 years, more than twice the rate of non-Latino White wealth. Yet while Latino wealth is on an upward trajectory, it’s far from equal with that of non-Latino Whites. The current median wealth of Latino households is about $36,000, just one-fifth of the median $188,200 of their White peers. Latino families are also significantly more likely to have a zero or negative net worth. While the increasing percentage of US-born Latinos will likely narrow these gaps over time, both the public and private sectors could adopt and implement interventions to more rapidly allow Latino savers and investors to fully participate in the US economy. An open discussion of strategies and policies to address the Latino wealth gap is critical to drive a more dynamic future both for Latino Americans and the country.
Following the success of the 2021 and 2022 convenings, Aspen Institute Latinos and Society will bring together 150+ C-suite leaders across the private, public, and civic sectors to forge action-oriented partnerships and advance economic mobility for Latinos. In collaboration with McKinsey & Company, the convening will consolidate as a catalytic space for scaling up impact, promoting peer-learning and facilitating innovation. Knowledge partner McKinsey & Company will unveil their third annual Economic State of Latinos in America Report at the event, contributing original data and evidence on the current state of Latinos as savers and investors. The public event will stimulate partnership building through networking opportunities along the day.