Reframing the Asian American Wealth Narrative: An Examination of the Racial Wealth Gap in the National Asset Scorecard for Communities of Color Survey

Abstract

The National Asset Scorecard for Communities of Color (NASCC) survey was developed to supplement existing national data sets that collect data on household wealth in the United States, but rarely collect data that is disaggregated by specific national origin. This paper begins with an examination of the importance of differentiating wealth and income, followed by a second section summarizing the methodology, and a third part analyzing the wealth position of various communities of color. For the first time, we are able to demonstrate differences in wealth across multiple Asian ethnic groups. The NASCC findings reveal that major disparities in wealth accumulation exist across certain racial and ethnic groups.