How much you save has to do with how much you earn, right?
Not entirely, according to recently published research on retirement accounts and race. The study, by the Financial Industry Regulatory Authority Investor Education Foundation, found that even when income and education levels are equal, blacks and Hispanics are less likely than whites to have taxable investment accounts.
About 36 percent of white households have taxable accounts, compared with 25 percent of Hispanic households and 22 percent of black households, according to the study. Factors like income and education disparities account for much of the gap. But FINRA, as the authority is known, found that "black households are 7 percentage points less likely than white households to own taxable investments, all things equal." For Hispanic households, a 4 percentage point gap remains. (Tweet This)