Black Americans are living longer. Generational wealth comes next. Here's why.

Half a century ago, the life expectancy of Black Americans was significantly lower than the life expectancy of White Americans — 10 years lower, back in the 1960s and 1970s, for instance. But that life expectancy gap has been whittled down in recent decades to just three years, thanks in large part to greater access to health care for Black people in the U.S. 

Black Americans are now expected to live to age 75, compared to 78.5 for Whites, according to the most recent data from the Federal Reserve Bank of St. Louis. While a longer lifespan — and the unquantifiable benefits of being alive longer — bodes well for Black families in general, it also has profound financial implications, experts said, particularly for Black households trying to build wealth and pass it on to future generations. 

"Health is wealth," said Deborah Owens, a former executive at Fidelity Investments who coaches Black women on how to build wealth. "Living longer is a plus because then we can still allow our assets to grow, instead of just having to depend on them for current income."