Wealth

Money Under the Mattress?

Sun, 12/13/2009 - 21:27 | Wealth

A USA Today article summarized a Federal Deposit Insurance Corporation in-depth study, which shows that many minorities shun banks. 
More than one in four American households, including more than half of black households, use check cashers, payday lenders or pawnbrokers rather than a bank, according to a Federal Deposit Insurance Corporation report
 
The problem is most acute among minorities: 53% of African-American households and 43%
 

Duped Again!

Wed, 02/11/2009 - 16:45 | Wealth

Ponzi schemes are alive and well, as evidenced by the latest financial fraud perpetrated by money manager Bernard Madoff.
 
Why do people continue to get duped by Ponzi (financial fraud) schemes?

 

Worse Off than Our Parents?

Thu, 11/15/2007 - 22:25 | CommunityWealth
A recent Pew Research Center Economic Mobility of Black and White Families survey indicates that Blacks today are less upbeat about their economic prospects than previous generations.
The survey also finds blacks less upbeat about the state of black progress now than at any time since 1983. Looking backward, just one-in-five blacks say things are better for blacks now than they were five years ago.
 

A Troubling Racial Split

Mon, 11/12/2007 - 17:07 | Wealth
A Washington Post article addresses the issue of the differences in how people of color are preparing for retirement:
Employers have begun to find troubling racial differences within their 401(k) plans, a gap they say could leave black workers far less financially prepared for retirement than whites. "There are clear differences between blacks and whites: How we think about money, where we save and invest our money, what we do with our money, and how we're influenced as to
 
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