*While 44 percent of Americans have no retirement savings, the number rises to 57 percent among black households, according to Prudential Financial. For those who are financially stable enough to have a nest egg, the outlet found that the average savings for black households is $23,000 compared to $154,000 for white households.
The numbers are even more sobering for black women. According to EqualPayToday.org, Sis must work an additional seven to eight months to earn the same coin that her white male peers make in one year.
The folks at AARP appear to be paying attention. Its new “Tribute to Our Sheroes” campaign is an extension of the company’s partnership with the Ad Council’s “Saving for Retirement” public service initiative that launched in 2017, with the goal of helping diverse audiences feel confident and prepared as they reach those golden years.
In our latest For The Record podcast, Lee Bailey’s guest is AARP’s Vice President of African American Strategy Outreach, Shani Hosten. She talks about the specific goals of the campaign, why AARP is reaching out to black women specifically as opposed to black people in general, the retirement savings tips available at its online resource AceYourRetirement.org/Shero, and much more.
Listen to the podcast above, and watch some promos for the campaign below.