African American Investors are Down, but Not Out

0722_401k

In the survey of 501 blacks and 505 whites with household incomes of at least $50,000, nearly half of all blacks (compared to 31% of whites) dipped into savings to make ends meet in the last two years. Additionally, 27% of Blacks who participate in a 401(k) (compared to 16% of whites) reduced the amount they contribute per month. The median amount blacks contribute to their retirement plans is $230 per month, compared to $337 by whites.  Of non-retired blacks, 22% (compared to 14% of whites) borrowed or withdrew money from a retirement account. Read more on why you shouldn't take early withdrawals from your 401(k).

In the survey of 501 blacks and 505 whites with household incomes of at…

One Response to 0722_401k

  1. Dahye says:

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