Blacks Falling Further In to Poverty

I do my best to be positive but today I received an email from Izania.com. I get an email newsletter from them and here is the headline in todays newsletter.

“10th Annual Ariel-Schwab Black Investor Survey Shows Blacks Moving Backward, Not Forward”. The Ariel Fund is an African American run mutual fund and for the last 10 years they have partnered with Schwab to survey Black investors. This year the survey was not good. Here is the jist the the results.

• African-American stock market participation is at the same level as it was ten years ago (the first year of the survey): at a low of 57% (compared to a high of 74% in 2002). White investing is at 76% this year.
• Even when all other significant demographic factors are held constant (age, income, gender, education, and so on), Whites are nearly twice as likely as African-Americans to be investors.
• While 56% of Whites say that retirement is their most important goal for saving and investing, only 40% of African-Americans see retirement as their priority. All else being equal (income, age, etc.), Blacks are 50% less likely to say retirement is their primary saving and investing goal.
• Preference for real estate as an investment is at a five year low, with 45% of Blacks and 34% of Whites saying that it is the “best investment overall.”

There is actually more but none of this is good and again emphasizes the importance of getting an financial education so we can participate in the world economy. If you have not started your financial education it’s not to late to start and you can start right now. Here is how.

1. Find a mentor, go to Meetup.com and find an investment group to join.
2. Read financial literature and books
3. Join a cashflow club and learn to invest with play money

Use all of these strategies, but start now. If you are a Black Boomer start now, If you are a college grad or student, start now. (No, they didn’t teach financial literacy in school), if you have young kids, start now. Wherever you are in life. Start the process of educating yourself about money, investing and then do something TODAY.

If you live in the Philly or New Jersey join us for Cashflow games monthly. We play as a group and learn from each other. Whatever or whereever start today.

Dedicated to your success

Resources

Cashflow Clubs http://www.Richdad.com

Real Estate Investing http://www.livetherealestatelifestyle.com

Meetup.com

Checkout any of these resources Today

To see more info go to http://www.izania.com

To read the actual report go to http://www.arielmutualfunds.com/blackinvestor/