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Hispanic Wealth Project Sets Ambitious Goals for Next Decade
The Hispanic Wealth Project (HWP) is celebrating a decade of success and outlining a bold new vision for the future. Here is an overview and outlook to 2034 as reflected in the 2024 State of Hispanic Wealth Report.
A Response to Economic Disparity
The HWP was born out of the devastating impact of the Great Recession, during which Hispanic households suffered disproportionate wealth losses. In response, NAHREP set a monumental goal: to triple Hispanic household wealth by 2024. To achieve this, the HWP developed a blueprint focusing on three core areas: homeownership, business ownership, and financial asset diversification.
Celebrating Success, Embracing New Challenges
The 2024 HWP report celebrates the achievement of tripling Hispanic household wealth, a remarkable feat accomplished two years ahead of schedule. The report details progress across each component goal, analyzing key data and highlighting areas for future focus.
The Next Ten-Year Vision: Closing the Wealth Gap
As the HWP enters its second decade, the focus shifts to bridging the wealth gap between Hispanic and non-Hispanic White households. The ambitious goal is to reduce this gap by 50% by 2034. To guide this mission, the HWP has outlined a set of comprehensive component goals:
Real Estate:
Business Ownership:
Financial Assets:
Asset Protection:
A Catalyst for Change
The HWP's commitment to empowering the Hispanic community is rooted in the understanding that America's economic well-being is inextricably linked to the prosperity of its diverse population. The next decade promises to be a period of continued progress and transformation, driven by the HWP's dedication to achieving its ambitious goals.
To learn more about the HWP and access The State of Hispanic Wealth Report, visit
https://hispanicwealthproject.org/annual-report/ or follow us on social media.
Disclosure: Please note that the information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
A Response to Economic Disparity
The HWP was born out of the devastating impact of the Great Recession, during which Hispanic households suffered disproportionate wealth losses. In response, NAHREP set a monumental goal: to triple Hispanic household wealth by 2024. To achieve this, the HWP developed a blueprint focusing on three core areas: homeownership, business ownership, and financial asset diversification.
Celebrating Success, Embracing New Challenges
The 2024 HWP report celebrates the achievement of tripling Hispanic household wealth, a remarkable feat accomplished two years ahead of schedule. The report details progress across each component goal, analyzing key data and highlighting areas for future focus.
The Next Ten-Year Vision: Closing the Wealth Gap
As the HWP enters its second decade, the focus shifts to bridging the wealth gap between Hispanic and non-Hispanic White households. The ambitious goal is to reduce this gap by 50% by 2034. To guide this mission, the HWP has outlined a set of comprehensive component goals:
Real Estate:
- Maintain a Hispanic homeownership rate of 50% or greater.
- Increase the number of Hispanic owner-households to 11.5 million.
- Increase the rate of Hispanic investment property ownership by 25%.
- Double the share of Hispanic real estate and mortgage professionals in the industry.
Business Ownership:
- Increase the number of Hispanic-owned employer firms to 600,000 or greater.
- Triple the investment allocation of VC funding to Hispanic founders.
Financial Assets:
- Increase the share of Hispanic households owning non-cash financial assets (e.g., stocks, bonds, mutual funds, 401k accounts) to 50% or greater.
- Increase the share of Hispanic financial planners and investment professionals by 30%.
Asset Protection:
- Increase the share of Hispanic households with a will or trust to 30% or greater.
- Increase the share of individuals in the NAHREP network with an estate plan to 75% or greater.
A Catalyst for Change
The HWP's commitment to empowering the Hispanic community is rooted in the understanding that America's economic well-being is inextricably linked to the prosperity of its diverse population. The next decade promises to be a period of continued progress and transformation, driven by the HWP's dedication to achieving its ambitious goals.
To learn more about the HWP and access The State of Hispanic Wealth Report, visit
https://hispanicwealthproject.org/annual-report/ or follow us on social media.
Disclosure: Please note that the information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
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