← African American Investors are Down, but Not Out

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By Deborah Creighton Skinner | Published July 22, 2010 | Full size is 500 × 484 pixels

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…

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