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The NextGen Finance podcast series is an initiative of the Association of the Luxembourg Fund Industry (Alfi) in which two experts from the finance sector, one experienced professional, another at the early stages of their career, discuss a particular theme. The latest episode features a dialogue between two lawyers on the legal landscape with regards to the fund industry.
The median wealth for a white family was $188,200 in 2019, compared to $24,100 for Black families and $36,100 for Hispanic families, according to the Federal Reserve's 2019 Survey of Consumer Finances, released in September 2020. Black Americans can expect to earn up to $1 million less than white Americans over their lifetime, a 2019 study by McKinsey & Co. found. To that end, CNBC contributors and members of the CNBC Financial Wellness Council reveal the lessons they have learned, their recommendations to the Black youth of America and the work they are doing to make a difference. Akbar Gbaj...