All Articles Tagged "retirement savings"
Tax return time is a favored time for many because you get back a big check from the government. Of course, while this can seem as if it is “free money,” in reality, you are getting back cash you paid all year. You can squander this money and have nothing left to show for it, or you can make a smart choice and consider one of these better ways to spend your tax return.
(Washington Post) — As the economy emerges from the recession and the national debate turns to limiting the cost of the social safety net, only one in four African Americans and one in six Hispanics reported owning stocks, bonds or mutual funds, a new poll shows.In addition, only 46 percent of blacks and 32 percent of Hispanics said they had an IRA or any other type of individual retirement account, according to a new Washington Post-Kaiser Family Foundation-Harvard University poll. Half of whites said they had stocks, bonds or mutual funds and two in three said they had IRAs, 401(k)s or similar securities.
The relative paucity of investments held by blacks and Hispanics tracks with previous studies, something that experts call an outgrowth of the gaping wealth disparities separating the races. Not only are African Americans and Hispanics less likely than whites to own retirement accounts or investment securities, they also are far less likely to own homes, which remains the largest engine of wealth creation for most Americans.
The number of Americans with no retirement savings grew for the third straight year.