Im working a project in my MBA program to design, administer, and analyze a research project to find out more insight into african americans preparation for retirement. I personally think that with trends in prison rates, education and secondary education stats, unemployment, church decline, and a few others show a harsh picture of what is to come. The AA upper middle class and lower class both are increasing rapidly. The government will not be a safe haven for those not prepared. You will see more of us who will have to take care of our parents and entire families financially after their retirement age. You will also find more elderly working as cheap labor for McDonalds and Wal-Mart. Not only are we not prepared buy surveys that attempt to address the issue such as Ariel Schwab only conduct the surveys to provide more financial solutions through their company which equates to using research to drive revenue. Business is simple, but this is a huge issue that will show itself very soon
2006-10-06 08:47:25 · 7 answers · asked by blackgenius 1 in Society & Culture ➔ Cultures & Groups ➔ Other - Cultures & Groups
PLEASE: Do not send comments telling me that race isnt important. Non-african americans tend to want to make it known that race isnt the issue when I didnt really ask for your opinion. This is research and while its about African Americans it can just as easily be for any ethnic group, race, religion, etc. Humans have to think on a higher level. Its important to understand what all culture face for the future. I just happen to be african american and attend an MBA program at a Historically Black College...why does that always tend to make non-african americans go into the "race isnt important" converstion. I need to do some research on why race sets people off. And to make my point even more proufound...the research ultimately will be used to start a program to address the issues that african americans face. So mabye whites get worried when we use our genius to prepare for our futures. Otherwise what else could explain the issue. Its like telling me not care about my own family. Dumb..
2006-10-06 09:39:20 · update #1
I am becoming prepared. I have some stocks and bonds, and a few Cd's. The Roth IRA, savings and retirement benefits should hold me. My fiance will be starting his own business and we will be on the path to a nice comfortable retirement. But since that is still 30 some years away, I just want to take it one day at a time.
Oh BTW- i am biracial- my mother is deceased. My fiances mother will most likely come and live with us if there comes a time when she can no longer take care of herself. African Americans are less likely to stick a parent in a retirement home than a white person. That's just part of the culture. When she comes to live with us (my fiance is her oldest child), she will not have to work and we will be taking the responsibility to care for her.
2006-10-06 09:36:45 · answer #1 · answered by glorymomof3 6 · 0⤊ 0⤋
It doesn't matter what race you are. I don't think anybody but the rich folks are really prepared for retirement. Nobody can depend on pension/retirement funds like out grandparents could. It's really sad, too. The big companies keep turning to squeeze every drop of blood they can from a turnip -- I mean their employees, and then give them them the shaft.
2006-10-06 08:58:39 · answer #2 · answered by pinduck85 4 · 1⤊ 0⤋
you're way off! in actuality the completed opposite is authentic. Obama gained city parts and in important cities. contained in the agricultural parts McCain gained. So people residing outdoors of African American impression did not vote for Obama.
2016-10-16 03:49:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, I don't think so. Many are not financially intelligent. Many are relying on social security. Many do not know that you do not have to be rich to save for retirement. It is a matter of prioritizing and saving money wisely. Many blacks are ignorant on how to do this.
2006-10-08 03:47:45 · answer #4 · answered by truly 6 · 0⤊ 1⤋
Cool, I'm trying to open an IRA account when I turn 18 and get a job.
2006-10-06 09:33:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Today, you still can't generalize. An upper class black american is quite different than the black american living in the projects. I think rich black people think about it, upper middle class blacks are doing it, middle class blacks are thinking about it, and poor blacks can't do it.
2006-10-06 09:05:50 · answer #6 · answered by Anonymous · 0⤊ 1⤋
A LOT OF PEOPLE AREN'T PREPARED FOR RETIREMENT UNLESS YOU ARE RICH. NOTHING TO DO WITH RACE. THAT'S WHY PEOPLE OF ALL RACES ARE WORKING WELL INTO THEIR 60'S
2006-10-06 09:23:13 · answer #7 · answered by karamel 3 · 0⤊ 0⤋