2022 Ariel-Schwab Black Investor Survey

This survey aims to identify similarities and differences between middle-class Black and white Americans with regard to savings and investing. It examines the factors that may impact how Black and white Americans think about financial matters; assesses the expectations and sentiment that Black and white Americans face in their financial future; and determines any shifts in attitudes or behaviors that have occurred over time.

Key findings

lnvestor participation is at historic lows for both Black and white Americans.
Risky investments are growing in popularity, especially among younger Black investors.
Investors are jumping into the market without all the facts.

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About the survey

For 24 years, Ariel Investments and Charles Schwab have studied the investing and saving attitudes and behaviors of Black and white Americans. The online survey was conducted in January 2022 by Helical Research among 2,057 Americans age 18 and older with $50,000 or more household income in 2021. The average household income of Black and white survey participants is $99,000 and $106,000, respectively. The margin of error for the total survey sample is 3 percentage points.

Email for more information: Schwab Public Relations