Veterans Day is here again, a day dedicated to honoring and paying respects to American active and retired servicemen and women. Originally celebrated as Armistice Day in 1919 for veterans of the First World War, the holiday was expanded to include veterans of all wars by a May 1954 bill; six days later the celebration’s name was changed to Veterans Day.
- There were 18.5 million military veterans in the U.S. in 2016
- There were 1.6 million female veterans in the U.S. in 2016
- 78 percent of veterans in 2016 were non-Hispanic white, 11.6 percent were black, 6.5 percent were Hispanic, 1.6 percent were Asian, 0.7 percent were American Indian or Alaska Native, 0.2 percent were Native Hawaiian or Other Pacific Islander, and 1.3 percent were some other race
In a recent study, The Wealth of Veterans, the U.S. Census Bureau reports on the different wealth characteristics of veteran householders and nonveteran householders 25 years and older:
- Among householders 55 to 64 years old, veteran households had a lower median net worth than nonveteran households ($160,809 compared with $232,669). In contrast, for householders 75 years and over, veteran households had higher median net worth than their nonveteran counterparts ($278,008 compared with $221,734)
- For householders 35 to 44 years old, 59.0 percent of veteran households had credit card debt, compared with 47.7 percent of nonveteran households
- In general, veteran households were more likely to have an account at a financial institution than nonveteran households. About 94 percent of veteran households had a relationship with a financial institution, compared with 90.5 percent of nonveteran households
NAWRB would like to thank all of our veterans for their service and contributions to our country, and all military spouses and families for your continued strength and sacrifice.