Black, Latina, and Hispanic women investors say they are more knowledgable about investing and retirement planning compared with five years ago, according to J.P. Morgan Wealth Management’s 2023 Diverse Investor Survey.
The study, which surveyed 1,017 American adults aged 25 and over with at least $25,000 in investable assets, found that 68% of Black women respondents and 52% of Latina and Hispanic women said they know more about investing and retirement planning now.
More than two-thirds of Black, Hispanic, and Latina women surveyed said building generational wealth was the motivation for starting to invest. Another motivation was to support others—66% of Black women said they started investing to support family and friends, while 70% of Latina and Hispanic women said the same.
The survey found that Black investorswere the most confident in their knowledge of investing and retirement, with 72% giving that response, compared with 62% of White respondents and 56% of Hispanic and Latino …