Black Investment for the 21st Century

As calls for blacks to invest more aggressively become more insistent, our Board of economists examines the potential for building wealth in the new millennium

income range: $75,000-$100,000

Are you currently invested in the stock market?

“Yes. We’re invested in savings bonds, money market funds and mutual funds (Dreyfus, Vanguard and Hamilton), Gift Trust (American Century) and our 401(k) plans. They’re less risky than individual stocks. We have about $9,500 in our mutual funds. Between the two of us we have $60,000 in our 401(k) plans.”
Why did you decide to invest?

“Right now we’re trying to be very conservative because I think it’s the safest way for us to go. We don’t have the money to be in individual stocks because we’re trying to buy our first home.”

For what purpose is your investment portfolio intended?
“We’re investing in the mutual funds for our daughter’s education and the 401(k) for our retirement. We also know we can borrow against those funds if we need to buy a home.”

Are you concerned about the current volatility in the market?
“We’ve seen this before just like with the crash of 1987. We watched the market rebound. It always does. The economy is strong. If you’ve got money to gamble this is an opportunity for buyers.”

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