Julian Bond Institute’s “Ambition Without Access” survey finds the racial wealth gap is not a motivation problem — it is a structural access problem

WASHINGTON, May 14, 2026 /PRNewswire/ — Amid historic affordability challenges in the U.S., a new study released today by the Julian Bond Institute for Financial Equity Research (JBI) debunks preconceived notions that younger, more diverse generations lack motivation to contribute to the economy.  

The study – Ambition Without Access – found that young Black and Hispanic Americans aspire to homeownership, entrepreneurship, and building generational wealth at rates equal to or greater than their white peers. Yet they achieve those goals far less often due to the racial wealth gap and structural barriers to accessing appropriate, responsible financial products. The study also found that, regardless of race, a sizeable share of Gen Z and Millennials face financial instability, with less than half of these respondents (48% and 45%, respectively) saying they were on track to accumulate enough savings for a comfortable retirement. 

“The gap between financial aspiration and achievement for young and minority consumers is not a matter of motivation. It is a matter of structural access — to family financial resources, affordable credit, adequate income, and the knowledge to navigate a system not designed with these communities in mind. As the United States moves toward a majority-minority future, closing these gaps is not just a moral imperative — it is an economic one,” said Sara Weiss, executive director of JBI and a report co-author. 

 “A consistent pattern emerges across all three parts of this survey. Both race and generation matter, and where they intersect, the stakes are even higher. The communities leading fintech adoption are the same ones that will define the financial marketplace by 2050. Lenders that don’t adapt to this reality will be left behind,” said Mitria Spotser, president of JBI and a report co-author.  

The JBI 2050 Survey, conducted by NORC at the University of Chicago, surveyed 5,269 Americans, oversampling white, Black, Hispanic, and Asian Americans across Gen Z (age 18-28), Millennial (29-44), Gen X (45-60), and Boomer (61-79) age groups to present the first nationally representative look at how wealth and financial aspirations differ across race and generations. 

 Key findings include: 

• 86% of Americans across every race and generation say homeownership was a financial goal when they became financially independent — yet only 23% of Black Millennials who aspired to homeownership have achieved it, compared to 51% of white Millennials. 
• 67% of Black Gen Z and 55% of Hispanic Gen Z aspire to own a business — roughly double the rate of white Gen Z at 34% — but 38% of aspiring entrepreneurs who feel off track say they don’t know how to get started. 
• 77% of Black Gen Z and 70% of Hispanic Gen Z aspire to build an inheritance to pass on, even though only 18–20% expect to receive one themselves, compared to 33–38% of white and Asian Gen Z. 
• 46% of Black Millennials are optimistic about their household’s financial future — higher than the 31% of white Millennials — despite having fewer financial resources, lower savings, and significantly less family financial support. 

The study’s findings also indicate that financial services providers must consider both racial and generational concerns in designing products and services, and that policy makers must take steps to close access gaps and build an inclusive financial system that meets the needs of future customers. The recommendations are available here. 

“Young Black and Hispanic Americans are more likely to have grown up in households where alternative financial services were part of their parents’ financial lives, and their white and Asian peers are more likely to have parents who owned their homes and set up savings accounts for them when they were young,” said Candice Wang, CRL senior researcher and report co-author. “The wealth gap begins in childhood, and financial institutions must quickly develop effective solutions to avoid replicating the racial wealth gap in the generations that soon will become the backbone of America’s economy.” 

Explore the full Ambition Without Access report here.  

For more information about the survey or to request additional data, please contact Alfred King: alfred.king@responsiblelending.org.  

About Julian Bond Institute for Financial Equity Research (JBI): The Julian Bond Institute for Financial Equity Research is an initiative of The Center for Responsible Lending (CRL). JBI designs community-informed research that elevates the financial needs, challenges, and opportunities of our increasingly diverse nation to help financial institutions, policymakers and academia effectively design a financial market for the future. JBI focuses on community narratives and perspectives to engage academia, policy makers, and financial institutions in developing financial products and policies that meet consumers’ evolving needs while leading to increased financial security and wealth for all. 

About CRL: CRL is a nonprofit, non-partisan research and policy organization dedicated to protecting financial fairness and opportunities, including homeownership and other assets that build family wealth. Our work to eliminate abusive financial practices runs parallel with our commitment to promote new policies, products, and practices that responsibly expand access, meet the needs of families and communities, and promote resiliency and financial security.  

CONTACT: Al King 

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SOURCE Julian Bond Institute