Most Black Americans Are Positive About Their Financial Future, New Study Shows

black holding glass of champagne in an airplanev
Via Pexels
Leslie Taylor-Grover
September 13, 2023

While most Black Americans say they don’t have enough money to live the lifestyle they would like, they still hold out hope that things will change in the foreseeable future, according to a new study from the Pew Research Center.

The study surveyed 4,742  Black Americans in the summer of 2023. Results showed Black adults with higher incomes are much more likely to say they do have the resources to lead their desired lifestyle. Their middle and lower-income counterparts are less likely to feel as positive.

However, even when income is taken into account, nearly 60 percent of Black Americans still say they will earn enough money in the future to meet their desired lifestyle. But what does “enough money” mean for Black Americans?

More than half (56%) say that a yearly income of less than $100K is enough to live the lifestyle they want. These positive respondents are younger (ages 18-49) and less educated  (some college or less educational attainment) than those who say $100k isn’t enough.

To review more details from Pew’s study, head here.