42.5
To generate supplemental income 38.6
To start a business 32.8
Other 6.1
3: How long have you invested in the stock market?
ANY STOCK MARKET INVESTMENT (77.7%)
20 years or more 3.0%
16-20 years 3.6
11-15 years 6.5
7-10 years 11.8
4- 6 years 15.9
1- 3 years 25.4
Less than 1 year 11.5
HAVE NOT INVESTED (22.3%)
Average (years) 5.6 Median (years) 4.1
4: If you have not invested in the stock market, what has kept you from doing so? *
Feeling that you do not have
adequate funds to invest 55.0%
Lack of information 36.5
Fear of losing money 22.6
Lack of access to advisors 14.6
Mistrust of brokers & financial
service firms 8.5
Other 16.7
5: Which of the following criteria do you
use to determine wealth? *
Net worth 84.2%
Income 57.0
Education 29.9
Profession 23.3
Social position 10.0
Neighborhood 9.7
Family background 7.7
Other 7.8
6: Would you say that you represent a first-generation stock investor in your family?
Yes 66.2%
No 27.3%
Don’t know 6.5%
7: Which best describes how you started investing your money?
Through work(401k, 403b,
company savings plan, etc.) 56.8%
On your own 27.0
With the help of a broker, financial
planner/investment advisor 8.8
Through an investment club 2.1
Other 5.3
8: If you have not invested in the stock market, what has kept you from doing so? *
Feeling that you do not have
adequate funds to invest 55.0%
Lack of information 36.5
Fear of losing money 22.6
Lack of access to advisors 14.6
Mistrust of brokers & financial
service firms 8.5
Other 16.7
8: If you have not invested in the stock market, what has kept you from doing so? *
Feeling that you do not have
adequate funds to invest 55.0%
Lack of information 36.5
Fear of losing money 22.6
Lack of access to advisors 14.6
Mistrust of brokers & financial
service firms 8.5
Other 16.7
9: At what age did you start investing?
12 or younger 2.4%
13-19 5.1
20-29 54.9
30-39 29.1
40-49 7.4
50-59 0.9
60 or over 0.1
Average age 28.4
Median age 27.4
10: How did you first learn about investing?
By reading financial magazines
& publications 40.1%
From friends/associates 26.2
From your parents 14.0
By taking courses 8.1
Internet 1.6
Other 9.9
11: I would prefer to work with a financial planner of the same race.
AGREE 52.2%
Strongly agree 25.2
Agree 27.0
DISAGREE 3.1
Disagree 2.8
Strongly disagree 0.3
The race of the financial
planner does not matter 44.7
12: What percentage of your financial transactions do you conduct through
a black-owned financial institution?
100% 1.0%
75-99% 1.1
50-74% 2.5
25-49% 3.3
15-24% 3.0
10-14% 3.7
5-9% 4.5
Less than 5% 14.0
None 66.9
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KEEPING TRACK OF YOUR MONEY Below, we have provided two worksheets to help you get started. The first is the B.E. Wealth Calculator, which will help you figure out your current financial standing. The second, the b.e. Cash Flow Monitor, should serve as a monthly guide to help you oversee money inflows and outflows and make necessary adjustments. |
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| ASSETS Checking account Savings account Savings certificates Savings bonds Market value of home/apartment Market value of other real estate Cash value of life insurance Surrender value of annuities Equity in pension or profit-sharing plans IRA and Keogh plans Market value of: stocks bonds mutual funds Other investments (including collectibles and precious metals) Current value of: automobiles household furnishing & appliances furs and jewelry Loans receivable Other assets TOTAL ASSETS LIABILITIES Current bills Mortgage balance Credit card balance Auto loans Student loans Check overdraft line of credit Home equity loan Margin loan Other debts TOTAL LIABILITIESCURRENT NET WORTH (assets minus liabilities) |
$___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ $___________$___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ $___________ $___________ |
INCOME Take-home pay Bonuses Self-employment income Net income from rental properties Interest Dividends Other (specify) TOTAL INCOME OUTGO Mortgage or rent Property taxes Income and Social Security taxes not withheld by employer Alimony, child ACROSS THE WEB
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