Young Black Americans report medical debt impacting financial health
COLUMBUS, Ohio, April 21, 2022 /PRNewswire/ -- Young Black Americans report that medical debt is impacting their financial health and nearly one in five Black millennials (19%) report that paying for health care is their biggest retirement stressor, according to a recent Nationwide Retirement Institute® survey. Black millennials report carrying substantially more medical debt compared to other generations. Of those respondents who could estimate their medical debt, Black millennials self-reported they have on average $11,469 in medical debt. That's four times higher than Black Gen Xers ($2,818) and ten times more than Black baby boomers ($1,111). The outsized medical
NBA Star Chris Paul Launches Month-Long Initiative to Draft One Million Kids Into a Path of Financial Freedom and Generational Wealth.
NBA Star Chris Paul and Goalsetter, a Black-owned kids and family finance app that provides a next-generation, education-first banking experience for U.S. kids and teens, today announced a full-court press initiative to “draft” 1 Million Black and Brown kids to become the next generation of savers and investors, kicking off during Black History Month. The initial round of the “Drafted” campaign will tip off on February 1 with NBA star and NBPA president Chris Paul “drafting” 100 kids who participate in his Club 61 Leadership Alliance from his
How to invest with confidence
by Damon Carr You panic when there’s news of a down market. You assume that your investment portfolio is doing well when there’s news of a thriving economy. You may be one of those people that shy away from investing or you invest ultra conservatively because you’re afraid that you’ll lose all your hard-earned money. You may be one of those people who hired an investment advisor and hope that the advisor is leading you in the right direction. I’m not going to give you a hot stock tip.
READJUSTING: Managing the finances of your business in today’s economy
by BlackPressUSA As a small business owner, the effects of the pandemic may have taken a tremendous toll on your financial picture. Now, as you continue down the road to recovery, you can count on Wells Fargo for the information you need to make more informed and confident decisions. What are the benefits of developing a relationship with a banker? One of the best perks of getting to know your banker is the ability to get help tailored to your business as your needs continue to evolve over time. Whether
Wealth gap over last two decades costs $2.7 trillion in Black income
Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy By Charlene Crowell America’s persistent racial income and the wealth gap reality are the result of four intertwined factors: housing, education, business ownership and access to credit. Closing these gaps would facilitate inter-generational wealth creation for Black America and also expand the nation’s economy by $5 trillion over the next five years. These findings come from an extensive report newly-released by a major bank. According to Closing the Racial Inequality Gaps: the Economic