May 2023
Voices from the Asian American Pacific Islander (AAPI) community
In the melting pot of cultures that make up the United States, Asian Americans and Pacific Islanders represent approximately 50 ethnic communities from more than 40 countries around the world. During AAPI Heritage Month, we share the findings of a comprehensive Merrill study—including personal stories of financial challenges and successes—to help us better understand and support this diverse group of employees.
Extensive discussion forums and surveys revealed the unique perspectives of AAPI community members on identity, work and money, and the future. Findings from the research also identified some common values and attributes, such as the importance of being lifelong learners when it comes to finances. Self-reliant and averse to debt, this multifaceted group is hungry for new ideas and tools to help them manage their money and pursue their goals.
25M
Asian Americans and Pacific Islanders currently live in the U.S.1
7%
of the U.S. population are members of the AAPI community1
38%
increase in AAPI population in the past decade, making it the fastest growing minority community in the U.S.2
Go to our web page to learn more about the financial experiences, goals and successes of the AAPI community, watch videos of individuals sharing their personal stories and download the complete report.
1 “20.6 Million People in the U.S. Identify as Asian, Native Hawaiian or Pacific Islander,” United States Census Bureau, May 2022.
2 “2020 Census Illuminates Racial and Ethnic Composition of the Country,” United States Census Bureau, August 2021.
