By Douglas Barnes Ok, so you’re at retirement age, and you’ve got no money, you’ve got no job, no marketable skills and your credit sucks eggs. What options do you now have, and what are you supposed to do at retirement time. You’ve begun to realize that your finances have never been this bad, and mentally, you are so depressed, that you are about three to four French … [Read more...]
Money Monday: Obama Has Done It Again! His Plan to Keep You from Being Old and Broke
According to the National Institute on Retirement Security, forty-five percent of working-age households do not have any retirement account savings at all. Part of the problem is that many Americans lack access to pensions or employer sponsored 401K or 403b retirement plans. Others can not afford to put hundreds of dollars every month into retirement savings. Some are … [Read more...]
5 Tips to Reboot Your Retirement
Black and Married With Kids is proud to present Generation One - The Search for Black Wealth. In fact, screenings will be taking place over the next few days in Atlanta, Chicago, and Washington, D.C., and we're so excited to bring this valuable information to our fans. But no matter where you are in your financial goals and no matter your age, it's never too … [Read more...]
Are African American Women More Undisciplined Spenders Than Other Groups?
This is not breaking news: African-American women are usually the primary decision-makers and chief breadwinners for our families; we must make the decisions for all family consumption from shopping for food, clothing, and shelter as well as well-being (healthcare), transportation and recreation. We, however, in many cases need more support and financial literacy to help us … [Read more...]
Wealthy Wednesdays: 3 More Tips to Keep You from Being Retired and Broke
by Deborah Owens How many friends and relatives do you know who retire too early with little savings and have to return to work to make ends meet? Are African Americans cutting off their nose to spite their face when it comes to their retirement savings? According to the 2013/2014 African American Financial Experience Study by Prudential who responded to their survey, “8 in … [Read more...]
How Much Money Do I Really Need to Retire? 3 Steps to Figure It Out
I have a friend that lives for relaxation and vacation. Every time I hear about her, it never seems to include employment. Seriously. She stays chillin’ on beaches, on somebody’s couch, just living the life… I guess. I say, “I guess,” because if there is no trust fund or Suga Daddy or Momma hanging around, my friend will be in some serious financial problems the older she … [Read more...]
Family Finances 101 With Rob Wilson
Christmas is over, but the remnants remain in the Hopson household. Although the red and green decorations are packed up and stored in the back of my closet, the tree still stands. Before you judge me, note that it’s artificial and not dying and dropping pine needles all over the living room. It sparkles and shines. It’s the first tree that I purchased and decorated as a first … [Read more...]
Money Monday: How We Make Others Rich but Ignore Our Own Wealth Everyday
Do you realize you're making other people rich every single day of your life? If you're like many of us, you toil endlessly long hours working in someone else's store, on someone else's construction site, or for someone else's company. And while you take home a paycheck, you're not the one receiving the greatest benefit from your labor. No, it's often the business owner, CEO, … [Read more...]
Money Monday: What’s The Secret To A Secure Retirement?
According to a recent survey by the Consumer Federation of America and Certified Financial Planner Board of Standards, about half of Americans are behind in retirement savings and only 34% of Americans say will be able to retire by age 65. As a result, some of us are planning to work longer. But as Dan Kadlec over at Time magazine points out, 57% of people quit work earlier … [Read more...]
Money Monday: Are You Ready To Work Until You’re 70?
Forget 65, many business and political leaders are suggesting that Americans work until they reach their 70s. Take the richest man in the world. Carlos Slim recently suggested that the world's economic troubles could be solved in part by lifting the retirement age to 70. Of course that's easy for him to say. He's sitting on an estimated net worth of $65 billion. But in … [Read more...]
Money Monday: How To Make Sure You’re Not Working At Walmart When You’re 65
Just recently I checked into a hotel late in the evening. As I was getting my luggage out of the car I was surprised by the appearance of the bellhop. No, this wasn't a young twenty-something, but rather a frail gray-haired gentlemen. As he struggled with the weight of the luggage cart I couldn't help but lend him a hand. All the while I was thinking to myself, why is this … [Read more...]
Money Monday: Keys to Retiring Wealthy, Even on a Meager Salary
In the Deep South, Oseola McCarty spent her working years as a washerwoman. To say she earned a meager income washing and ironing clothes for the local residents would be an understatement. But Ms. McCarty amassed enough wealth to donate $150,000 to the University of Southern Mississippi, establishing a scholarship fund for deserving students. Earl Crawley works as a … [Read more...]