MoneyBoss: Your Guide to Personal Finance and Entrepreneurship: Money and ...

Some of the financial challenges faced by women include:

• In the U.S., women earn 83 cents for every dollar that men earn. 
• Many more women than men--43% more--take career breaks, which leaves women fewer earning years as they step out of the workforce to raise children full-time or be a caregiver to a sick parent.
• Women live longer than men but don't necesarily make saving for retirement as important a priority as meeting daily living expenses. 
• Women feel they lack knowledge about investing and confidence in their ability to invest — 43% of women lacked confidence that they would do it “right.”

Some of the financial challenges faced by immigrants to the U.S. and their first generation children include:

• Some immigrant borrowers have been denied loans due to immigration status despite getting positive feedback from lenders about their credit scores and income.
• Policies and practices at some financial institutions effectively exclude some immigrants from access to banking services.
• Language barriers can create financial challenges.
• Refugees must quickly resettle in a new country and find long-term housing and employment, many while navigating unfamiliar systems with limited English proficiency. A lack of a credit history makes this more challenging.

Some of the financial challenges faced by people of color in the U.S. include:

• Large disparities in wealth exist between Black and white households, partly attributable to ownership of stock equity, which makes up nearly 30% of white wealth but only 4% of Black wealth. Stock equity can grow more quickly in comparison to drivers of Black wealth such as home ownership.
• About 20% of Latinas and American Indian & Alaska Native women lacked health insurance coverage. This is greater than the uninsured rate for white women and Black women.
• Given that over 18% of federal employees are Black—compared to about 12% of the U.S. civilian workforce—recent layoffs of government workers are hitting Black federal workers especially hard.
• The stereotype of Asian Americans as the "model minority" who don't need help masks the reality that about 1 in 10 Asian Americans lives in poverty.