Sunday, May 5, 2024

Scary: Nearly Half of African American Families Have No Savings … At All!

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*Can you, as an African American with little to no emergency savings on hand, recall when it was that you realized you were in trouble?

There is no blame pointed at the parents who didn’t sit us down and talk to us about money. Hell, they were busy trying to handle their own day-to-day; keeping us clothed and fed. But now that many of us are way past grown — with adult children of our own — we look around and see all the reasons why we wish we would’ve saved a little nest egg. Assuming you even had disposable income (which many of us don’t). This is especially scary for those of us who find ourselves looking at the so-called “retirement age.” Many of whom have worked since the age of 12, and are so worn out they retire early and op to take even less of the social security money they worked so hard to earn.

Knowing retirement anytime soon wouldn’t be a good option if you want to have any kind of quality life as an elder, some of us wouId like to think we’ll be working until we’re old and gray, but as we can already see: nobody’s hiring us now. At least nobody willing to pay a living wage.

Read more at EURThisNthat.

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