10-18-2017  3:21 pm      •     
  • 1
  • 2
  • 3
  • 4

NEWS BRIEFS

NAACP Statement on Florida State Juvenile Justice System

The NAACP responds to the Miami Herald series, “Fight Club" ...

'Bringing the Love' Gospel and Jazz Festival, Nov. 5

Patrick Lamb and Marvin Sapp, plus special guests ...

Sisters Network to Participate in Breast Cancer Walk Oct. 14

Meeting takes place at University of Portland- Chiles Center ...

Portland City Council Approves Plan to Create 1,300 Affordable Housing Units

City will begin accepting proposals for affordable housing development later this month ...

Free Resume Help at the Library

Kirby McCurtis, Administrator, North Portland Library lists five common resume mistakes ...

U.S. & WORLD NEWS

OPINION

On Dick Gregory's Birthday

Dr. Barbara Reynolds recalls Gregory's encouragement to write about 'the seen and the unseen' ...

Parents Deserve “Real” School Choice

Dr. Elizabeth Primas challenges Education Secretary Betsy DeVos on school choice. ...

The Fight to Protect Voting Rights Continues #StayWoke

Derrick Johnson, the interim president and CEO of the NAACP, talks about the fight to protect voting rights ...

Lessons From Vanport: Don’t Let History Wash Away

Portland resident Muyoka Mwarabu writes about discovering Portland's Black history ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Blake Ellis CNN Money

NEW YORK (CNNMoney) -- While the average African American is feeling more financially secure, many still feel neglected by the financial industry, new research shows.

Half of African Americans say their financial situations have improved from a year ago, compared to 33% of the general population, according to a Prudential report released Tuesday. The survey polled 1,153 people who identified as African American or black and a general sampling of 471 Americans.

African Americans are also significantly more confident about making financial decisions. Nevertheless, they get 13% less contact from financial advisers, and only 26% of respondents feel that a financial firm has "effectively engaged and shown support for the African American community." As a result, only 19% have financial advisers, compared to 30% of the overall population.

Yet on average, African Americans find the financial industry to be more trustworthy than the general population does, and more than half say a financial adviser could help them -- making this underserved population an untapped opportunity for financial firms, Prudential found.

And the need for help is there.

Debt is the number one concern among the African American population, according to the survey. The median household had $18,000 in non-mortgage debt -- including student loans, credit cards and personal loans. That's 50% more than the general population. And those with college degrees were twice as likely to have student loan debt than the average college-educated American.

With higher debt, it's often harder to build savings. Median household savings is only $40,000 for African American households, compared to $97,000 nationally. When a college education is added to the equation, household savings rises to $66,000 for African American households but jumps to $207,000 for the average American household.

African American respondents were half as likely to have long-term investments like stocks, bonds and mutual funds. Yet they were significantly more likely to be financially supporting someone who is unemployed, as well as grandparents, parents, children and grandchildren.

 

Oregon Lottery PM Home
Uber Pillow Drive
Calendar

Photo Gallery

Photos and slide shows of local events

Artists Rep Caught

MLK Breakfast