Posted on 04/16/2011 4:54:34 AM PDT by reaganaut1
Yet another survey confirms what we already know: Blacks don’t save as much as their white counterparts.
According to Prudential’s new study — the African American Financial Experience — 60 percent of African-Americans have less than $50,000 in company retirement plans and only 23 percent have more than $100,000. They’re also three times more likely to raid their 401(k) or other retirement plans to meet immediate financial needs, the study says.
Prudential’s findings echo research by Ariel Investments, which looks at middle class blacks. (According to Ariel’s July 2010 study, the median assets blacks have retirement plans is about half the amount that whites have accumulated: $56,000 compared to $106,000.)
This issue has not gone unnoticed in corporate boardrooms. One company that is trying to narrow the retirement savings gap among minority workers is McDonald’s, which uses some unconventional (along with very traditional) methods to get black and Latino employees to save for retirement.
(Excerpt) Read more at blogs.reuters.com ...
Those damn Joooozzzz always try to hold the man back! /sarc
The question is, will the black community ever catch on to the fact that the Democrats destroyed them?
The name of the tool Democrats used to destroy them? Welfare.
Ellis said that "dysfunctionality and a lack of core values are not limited to the 'hood,'" pointing out that the "loosening of internal restraints" is a national problem. During the Q&A segment of the presentation, he expressed concern that someday "we're going to have a totalitarian society" if the growing lack of such internal, individual restraints continues unabated.
Bravo! It has given us the ubiquitous term "dissin'."
First hearing this term from my High School students, I was a bit unsure of the meaning. I had rarely used the term "disrespect" even having been the brunt of it daily from the same students.
Oh, I expect you to pay for it, you WILL pay for it, and you have been paying for it from the very first moment you began working. Oh, and the blacks know it too, thus, they don’t save. Why should they; YOU are paying for their retirement.
There is also a generational factor at work. The creation of a mass black middle class is one of America's great achievements of the last 50 years. This is, however, still a relatively new thing, with the majority of the black middle class being the first or second generation of their family to achieve that status. Building a nest egg is for most of us the work of a lifetime and is the product of habits transmitted largely as a matter of family tradition. It takes time for cultural pattens to change.
The welfarism mentality is a problem for the poor of all races, but I would expect the black middle class over time to figure it out. Those that I know already have. Their houses are well on the way to being paid for, they sock it away in the 401(k), and their kids are headed to college. They're doing just fine, and their opinion of the ghetto lifetyle is about the same as mine.
Because having a future orientation is racist.
http://www.google.com/search?hl=en&q=future+orientation+racist&btnG=Search&aq=f&aqi=&aql=&oq=
I think you are wrong. Notice this was “told” to you 1,000s of times. This is what they like to say because it is a very melodramatic, edgy, and cool way to get our pity. “I’m a tragic character and I’m gonna die young and violent, man!” BULLSHIT! They do not save, because saving is HARD, like getting and keeping a job is hard. Spending money on cheap flashy toys is EASY. I know, I acted that way when I was 14.
The gangster culture personified: achievers get beaten by nihilists.
http://www.wpix.com/news/wpix-girl-attacked-before-talent-show,0,3499165.story
believing what happens to you depends on others, rather than what you do for yourself, is a core belief of liberals.
see this Pew Research breakdown of voter types
http://people-press.org/2005/05/10/profiles-of-the-typology-groups/
How would you feel about a similar concept that before an inheritance is passed on, the government deducts the SSN benefits paid in excess of the deceased's contributions to the program plus interest?
Do these black middle classers vote for O and all the dems 100% of the time? I work for the g. and I’m surrounded by 100s of these types all day, and their attitudes are 100% sick, twisted, liberal, bizarre, white man guilty, we be racism victims, etc.
Sorry but this is rather easily answered. The government and society have spent several generations convincing the black race that “we will take care of you”.
Sounds racist to me LMAO.
Well said!
There is always Obama’s stash for the black folks.
Being, on average, in generally-lower income strata means that a middle-class black is more likely to have relatives who are poorer and in need of help, and less likely to have richer relatives able to help THEM.
This is also why middle-class blacks tend to have lower credit ratings than whites of the same income level, and higher rates of mortgage default. A middle-class white couple in financial hard times is more likely to have parents with money who will help them rather than see their kids lose their house.
Thanks for link to article. Excellent. The really scary thing is that this mentality is not limited to 10%. More and more whites are descending into this mindset.
African-Americans which is it??
Short-term? They Stays, not live somewhere. Don't fill up the fridge, cause some brutha “stayin” or comin by will eat everything they can, cause da Ho owes em..
Speaking of reparations, give every man, women and chillin, that can prove slave ancestors, a cool million ONE TIME. Within 6 months 3/4 will be dead broke, dead or in jail for stealing another's reparations.
Because save, and slave, are only one 'l' apart.
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