Current Events > Why do Asians own so much more wealth than Hispanics in the US?

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Unsugarized_Foo
04/18/22 7:38:08 PM
#1:


The US census has Asians at 206k net worth and Hispanics(non-white) have $37k

My ass is in the negatives. My highest net worth peaked in high school with a 1996 Gran Prix, Xbox, and a 36" Sony Wega

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ncsonic
04/18/22 7:40:20 PM
#2:


Idk, even white people get mad at Asians for having better jobs, it is kind of weird

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Crescente
04/18/22 7:41:03 PM
#3:


Because they're all doctors and engineers lol
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Vyrulisse
04/18/22 7:42:50 PM
#4:


I dunno. I'd assume their culture has a lot to do with it but that might be pretty ignorant. Like I've seen a few Asians talk about how their upbringing is very strict and goal oriented, like it's hammered into them at an early age they need to be successful in life.

I'm probably wrong but it's just from my own meager experiences.

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#5
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David1988
04/18/22 7:47:54 PM
#6:


ncsonic posted...
Idk, even white people get mad at Asians for having better jobs, it is kind of weird

this tbh, Asians fare better than even white people in some states. We know historically the reason minorities arent able to have financial success as much as whites is because of systemic racism and bigotry, though I guess there are exceptions like with Asians

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Pitlord_Special
04/18/22 7:49:03 PM
#7:


Yeah, Hispanics tend to have a lot of kids so the mother tends to work less (though usually grandparents and other family help with the kids as well), and more wealth gets spent on maintaining the family + the generational wealth gets spread around more thinly.

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Llaeto7
04/18/22 7:49:42 PM
#8:


This entire topic is a mine field.
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Flauros
04/18/22 7:51:41 PM
#9:


Its a mystery. And its not like they had it easy in early america either. But they sure did overcome a lot of struggles and really put in the effort to make things better.

The chinese side of my family came here during the 40s, which wasnt a prime time for asian immigrants either. But i never hear them complain about it.

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Smashingpmkns
04/18/22 7:52:59 PM
#10:


I can only speak from my own experience as a 2nd gen Mexican American but a hard work ethic was definitely like the #1 thing my dad instilled in my upbringing, way more than a love for our heritage or family.

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Gamerguymass
04/18/22 7:54:54 PM
#11:


I mean Hispanics generally have more kids and start having them at a much younger age so I would imagine that contributes to this.

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Prestoff
04/18/22 7:56:17 PM
#12:


Vyrulisse posted...
I dunno. I'd assume their culture has a lot to do with it but that might be pretty ignorant. Like I've seen a few Asians talk about how their upbringing is very strict and goal oriented, like it's hammered into them at an early age they need to be successful in life.

I'm probably wrong but it's just from my own meager experiences.

It's exactly this. My parents put heavy emphasis on going after high paying careers like becoming a lawyer or doctor over following your dreams being a movie star or a singer. It probably plays a big role why you don't see a whole lot of asian pool of actors in hollywood. Asian parents go for what is practical, not what is possible.

There's also the asian connection network we have. I absolutely wouldn't be able to find a high paying job straight outta college if it weren't for my parents help with networking. Make note, my parents aren't rich but they happen to know some pretty powerful people that allowed me to at least get into the interview part of my job search. Granted I already did some networking of my own while I was 6 years into College.

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SomeGuyUO
04/18/22 7:56:46 PM
#13:


White parents are pulling their kids out of grades schools where Asian kids are getting insane high grades.
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PrettyBoyFloyd
04/18/22 7:58:28 PM
#14:


ncsonic posted...
Idk, even white people get mad at Asians for having better jobs, it is kind of weird

Yea I don't know shit about medical, programming and engineering.

All my shit is jury rigged.

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eston
04/18/22 8:01:26 PM
#15:


It probably has a lot to do with the circumstances under which they immigrated

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whitelytning
04/18/22 8:06:28 PM
#16:


Link to this data?

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SomeGuyUO
04/18/22 8:08:11 PM
#17:


Hispanics (black people too) don't have the network that Asians or white people have to get lucrative jobs.

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darkprince45
04/18/22 8:09:27 PM
#18:


Damn, Im doing good for Hispanic then lol

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Sexypwnstar
04/18/22 8:10:44 PM
#19:


SomeGuyUO posted...
Hispanics (black people too) don't have the network that Asians or white people have to get lucrative jobs.

What network do Asians have?

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BlueTigerLion
04/18/22 8:11:02 PM
#20:


Asian kids are a failure if they dont become doctors, lawyers, engineers to their parents. Hispanics dont have that same pressure.

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David1988
04/18/22 8:11:25 PM
#21:


eston posted...
It probably has a lot to do with the circumstances under which they immigrated

Asians have been coming to the states for over a century, I wouldnt be surprised if a lot of Asians in the US today arent immigrants but Asian-American

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Squall28
04/18/22 8:13:59 PM
#22:


Prestoff posted...
It's exactly this. My parents put heavy emphasis on going after high paying careers like becoming a lawyer or doctor over following your dreams being a movie star or a singer. It probably plays a big role why you don't see a whole lot of asian pool of actors in hollywood. Asian parents go for what is practical, not what is possible.

There's also the asian connection network we have. I absolutely wouldn't be able to find a high paying job straight outta college if it weren't for my parents help with networking. Make note, my parents aren't rich but they happen to know some pretty powerful people that allowed me to at least get into the interview part of my job search. Granted I already did some networking of my own while I was 6 years into College.

I still remember my dad telling me "Look at your cousin. He followed his dream and failed. Don't be like your cousin."

There's a lot of truth in those Asian parents memes. Their expectations for you are ridiculous, and they're never satisfied

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Ivynn
04/18/22 8:15:03 PM
#23:


David1988 posted...
Asians have been coming to the states for over a century, I wouldnt be surprised if a lot of Asians in the US today arent immigrants but Asian-American

Most Asian immigration happened in the 60's when certain immigration laws were lifted. So yeah a lot of Asians you see today are first- or second-generation Americans.

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Veggeta_MAX
04/18/22 8:16:25 PM
#24:


Sexypwnstar posted...
What network do Asians have?
I have no verification and I say this without meaning no offense but from what I've heard they have a monopoly control over nail salons and dry cleaners and also Chinese food.

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Squall28
04/18/22 8:19:06 PM
#25:


Sexypwnstar posted...
What network do Asians have?

Some of the richer Asians know other rich Asians, but there are definitely black and Latino networking programs.

I think poor Asians get the biggest shaft though because they thrown in the application pool of the rich Asians. I remember being completely clueless with zero connections because my parents were refugees while some other people had their parents FORCE them to take internships. Wanted to slap those guys

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Veggeta_MAX
04/18/22 8:19:49 PM
#26:


Ivynn posted...
Most Asian immigration happened in the 60's when certain immigration laws were lifted. So yeah a lot of Asians you see today are first- or second-generation Americans.
And then we're still getting a ton of 3rd and 4th class Asians we really never talk about of coming to America. Hmong, The Karens, Burmese, Mon, Laotian and I'm sure a few others.

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Trumpo
04/18/22 8:22:41 PM
#27:


So many generalizations itt
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darkprince45
04/18/22 8:24:47 PM
#28:


Trumpo posted...
So many generalizations itt
Like?

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Prestoff
04/18/22 8:26:11 PM
#29:


Sexypwnstar posted...
What network do Asians have?

I'll speak for myself and other Asians that I know that are making decent money, but most of them are from East Asian connections like Chinese, Japanese, and Koreans. I'm Vietnamese and my parents had to do a lot of foot kissing just to help me with my career. Luckily I managed to get into a pretty well known CPA firm here in Los Angeles from the connections I made at the accounting club I joined (the Senior Manager at the time was impressed I managed to keep a 3.5 GPA while being a full time manager and a full time student while graduating College debt free). And let me tell you, my years in College were not fun at all.

Squall28 posted...
I still remember my dad telling me "Look at your cousin. He followed his dream and failed. Don't be like your cousin."

There's a lot of truth in those Asian parents memes. Their expectations for you are ridiculous, and they're never satisfied

God I'm getting flashbacks because my dad said the same thing. "Look at your cousin ______, he tried to be an actor and now he does commercials for baby food and pest repellants and has to constantly beg his parents for money. Do you want to be like that? Do you want to be a failure? Be smart."

I also remembered my mom saying this to me, "Let's pretend that you happen to be the best actor in the world. Your acting skills are the best the world has to offer, and I guarantee you theres still going to be a very low chance at you being successful. Hollywood doesn't care if you're good at acting, it only cares if you're lucky and good looking. There's a reason you don't see many asians in American films. Be an Accountant, at least I know I can help you there. If you try to be an actor, you're going to be all on your own because I don't know anybody in that industry."

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Trumpo
04/18/22 8:39:06 PM
#30:


darkprince45 posted...
Like?

Gamerguymass posted...
I mean Hispanics generally have more kids and start having them at a much younger age so I would imagine that contributes to this.

BlueTigerLion posted...
Asian kids are a failure if they dont become doctors, lawyers, engineers to their parents. Hispanics dont have that same pressure.

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FelineCyborg
04/18/22 8:40:53 PM
#31:


There's a lot of foreign outsourced work in tech in CA, india and china. Tech in CA is overpaid sector. That probably skews the number a shit ton.

Almost nobody can afford to actually live in CA so they go their for assignments, then move back to their country.

There's also the fact that asian culture , they are just workaholics in general since birth. If you grew up with a united states mentality in mind, you do not want to live like them. I feel like they even make vacations stressful and too busy, and then they look at the pictures afterwards instead of actually enjoying the moment. Thats the asian way.

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YugiNoob
04/18/22 8:40:56 PM
#32:


I guess Asians in Hawaii are chill lol. Never have my parents ever acted like those stereotypical Asians. Except for stuff like eating rice and taking off their footwear at the door. And a lot of the other Asians I know werent raised with those strict expectations either. It helps that Asians make up the majority of Hawaiis population too :3

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BeautifulBlaze
04/18/22 8:41:11 PM
#33:


Why couldn't I have been born Asian instead of Hispanic? T_T

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David1988
04/18/22 8:48:09 PM
#34:


BeautifulBlaze posted...
Why couldn't I have been born Asian instead of Hispanic? T_T

lol I wish I was born in a Western family instead, grass always seems greener on the other side I guess

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Cleo_II
04/18/22 8:48:33 PM
#35:


According to my husband (who is Hispanic) he thinks it has to do with how its ingrained in them from a young age to work very hard but not really more than that in terms of ambitions. They have kids really young and have their kids take on jobs to help with bills. My husband was scrubbing toilets at school at 14 in the summer to help support his mom and 4 younger brothers. He ended up being good at IT and is the most successful person in his family. The rest all had kids from 15-16 and had their kids working as teens. Who are now also having kids as teens. The cycle keeps going but its due to living in extreme poverty and religious views against abortion.
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darkprince45
04/18/22 8:51:56 PM
#36:


@Trumpo . Idk about Asian culture but Hispanic having a lot of kids or big families is like statistically right

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#37
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FelineCyborg
04/18/22 8:53:47 PM
#38:


[LFAQs-redacted-quote]


nothing is ever good enough for asian parents

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Gamerguymass
04/18/22 10:09:46 PM
#39:


Cleo_II posted...
According to my husband (who is Hispanic) he thinks it has to do with how its ingrained in them from a young age to work very hard but not really more than that in terms of ambitions. They have kids really young and have their kids take on jobs to help with bills. My husband was scrubbing toilets at school at 14 in the summer to help support his mom and 4 younger brothers. He ended up being good at IT and is the most successful person in his family. The rest all had kids from 15-16 and had their kids working as teens. Who are now also having kids as teens. The cycle keeps going but its due to living in extreme poverty and religious views against abortion.

I remember years ago how my mother once told me about a Hispanic woman she worked with who was Dominican I think, I don't remember, but she was only 19 and was apparently upset that she didn't already have a few kids yet.

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IllegalAlien
04/18/22 10:11:36 PM
#40:


significant amounts of racism in this topic, but it's okay because it's at yellow people

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IllegalAlien
04/18/22 10:12:11 PM
#41:


should probably add the reddit "/s" but expect to be modded anyways

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ELLEO_ELLE
04/18/22 10:12:32 PM
#42:


Haley is sneaky.
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#43
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ELLEO_ELLE
04/18/22 10:13:55 PM
#44:


Haley said she does this to them. She buys frozen goods in the aisle.
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Ooooooranges
04/18/22 10:21:20 PM
#45:


I think it has to do with our parents working hard to give us opportunities and focusing all their energy (and money) on their children, combined with a very strict parenting style.

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dioxxys
04/18/22 10:49:37 PM
#46:


IllegalAlien posted...
significant amounts of racism in this topic, but it's okay because it's at yellow people
Hey they're just as white as you are
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I4NRulez
04/18/22 10:52:43 PM
#47:


I'm assuming more Asians are brought over in high demand fields where as Hispanics aren't?

I don't think its anything as stupid as "ASIANS WORK HARDER"

I know a lot of Indians and Asians who came over to work for Qualcomm and other tech places here in SD

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Garioshi
04/18/22 10:53:32 PM
#48:


The people who can afford to immigrate from Asia are usually very wealthy whereas there's a lot more lower-class Hispanics in America because Mexico is literally right there

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Tryhaptaward
04/18/22 10:54:41 PM
#49:


Garioshi posted...
The people who can afford to immigrate from Asia are usually very wealthy whereas there's a lot more lower-class Hispanics in America because Mexico is literally right there

Source?

All of the Asians I know came to the U.S. with nothing; this includes having parents that don't have a HS education equivalent
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Veggeta_MAX
04/18/22 11:07:03 PM
#50:


I know many Asians who came in the 80s and they started with nothing. They lived off welfare and other social programs but eventually got manufacturer jobs.

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