African Americans’ Financial Outlook
African Americans’Financial OutlookA Primerica Financial Security Monitor Insights Brief
African Americans’Financial OutlookIn a recent national survey of middle-income African Americans, Primerica foundrespondents to be confident about their financial futures, but they’re also worriedabout making monthly payments and eager to learn how to build good credit andmanage debt. Many have never invested their savings before and would like towork with a financial professional to improve their financial situations.Key Findings1African Americans are optimisticabout their financial futures, but theyalso have financial concerns today.Our survey found that 70% of African Americans areconfident their financial security will improve over thenext five years, but many are also concerned about theirability to save for retirement and pay for an emergencyexpense. Interstingly, more people are confident they canlose weight or learn a new language than pay for college.W H AT I S T H E B E S T C H A N C ET O O B TA I N 5 0 0 , 0 0 0 O R M O R EI N YO U R L I F E T I M E ?When asked this, 35% said saving andinvesting a portion of their income (the 1stmost common response), and 27% saidwinning the lottery or a sweepstakes (the 2nd).Which of the following do you feel confident you could achieve?50%40%30%20%10%0%Lose weightGo on avacationPay for lifeinsuranceSave forretirementPay for anemergencyexpenseLearn a newlanguageMakestudent debtpaymentsPay for achild to go tocollege1
2Some African Americans are saving, and most wantto know how to create a financial game plan.While 50% of respondents have not yet invested their personal savings, most want to learn how they can betterprepare for a more financially secure future.The savings habits of African Americans:25% saythey save forretirementevery month16% saythey makeinvestmentsevery month16% saythey save fora vacationMARKERS OF SUCCESSACROSS GENDERS.When asked what spells successfor them, men are most likelyto say owning a home. Womenare most likely to say having aretirement savings account.What African Americans want to learn:59%want toknow howto invest342% wantto knowhow to payoff debt41% want toknow how tobudget moreresponsiblyAT T I T U D E SA B O U T M O N E Y.About one-quarter (26%) ofAfrican Americans feel “up tothe challenge” of saving moneyfor the future (compared to 16%of general population).38% want toknow how to buildand maintaingood creditCredit card debt is a top financial concern among African Americans.A little over half (53%) ofrespondents are confidentthey can make their creditcard payments, and onein-three (35%) would payoff credit card debt versusspending it or saving itif they had an extra 25every month.CREDIT CARD DEBT25%41%Make exactly theirminimum paymentMake more than theirminimum payment, butless than the full payment28%Make the24Don’t know how%full paymentmuch credit carddebt they have2
4African Americans value professional financial advice.Six in 10 are confident in the information from financial professionals over any other sourceon subjects like managing debt, purchasing insurance, saving money or investing.WHEN IT COMES TO FINANCIAL TOPICS, WHICH SOURCESW O U L D Y O U F E E L M O S T C O N F I D E N T T O G I V E Y O U I N F O R M AT I O N family and/orneighborsNews sources (e.g. I would make my own Media personalitiesBloomberg, CNNdecision without the like Jim Kramer orMoney, Yahoo Finance) advice of othersSuze OrmanNEED FORPROFESSIONAL ADVICE.Nearly two-thirds wouldchoose to work with afinancial professionalover doing their ownresearch if they had amajor decision to make.CoworkersG E N E R AT I O N A L D I V I D E .Millennials61%Blogs/Onlineforums/Social media sitesGeneration X47%Boomers19%23%Almost half (47%) of respondents under 35 trusttheir friends to give them information aboutfinancial issues, compared to about one quarter(23%) of those between 35-54 and less than onein-five (19%) among those over 55.DIFFERENCES AMONG GENDERS.Two-thirds (66%) ofwomen would prefer to talkwith a licensed financialprofessional rather thandoing their own research .compared to more thanhalf (55%) of men.3
5Younger African Americans have more financial stressors than boomers do.African American millennials,ages 25 to 34, are morestressed about their financesthan boomers, ages 55 to 75, innearly every category examined;however, both generations areconcerned about credit card debt.DIFFERENCESIN FINANCIALWORRIES77%Younger respondentsare worried about howtheir family would copefinancially if they had amajor medical expense.Only 50% of olderrespondents say they are.TOP FINANCIAL STRESSORS BY AGENot having awell-paying job46%5%38%Creditcard debt36%33%Saving forretirementBecomingunemployedDying and my familymembers not beingable to pay their bills23%31%8%African Americanmillennials19%African Americanbaby boomers17%Making housingpayments50%32%About the SurveyAbout Primerica, Inc.These new findings are a follow up to the previously released2019 Primerica Financial Security Monitor, which providesa detailed snapshot of middle-income Americans’ financialpreparedness, habits and concerns.Primerica, Inc., headquartered in Duluth, Georgia, providesfinancial services to working families in North America.Primerica licensed representatives educate their clientsabout how to better prepare for a more secure financialfuture by assessing their needs and providing appropriatesolutions through term life insurance, mutual funds,annuities and other financial products. Primerica insuredapproximately 5 million lives and had over 2 million clientinvestment accounts on December 31, 2019. Primerica,through its insurance company subsidiaries, was the No. 2issuer of term life insurance coverage in North America in2018. Primerica stock is included in the S&P MidCap 400and the Russell 2000 stock indices and is traded on TheNew York Stock Exchange under the symbol “PRI.” For moreinformation about Primerica, please visitThe 2019 Primerica Financial Security Monitor was conductedby Quadrant Strategies on behalf of Primerica. The nationallyrepresentative online survey polled 1,000 Americans inFebruary 2019 with an oversample of 250 African Americans.Respondents were ages 18 and older and had total annualhousehold incomes between 29,000 and 106,000. Themargin of error is about 3%.http://www.primerica.com/public/primerica disclosures.html4
Some African Americans are saving, and most want 2 to know how to create a financial game plan. 2 CREDIT CARD DEBT 3 Credit card debt is a top financial concern among African Americans. 60% ATTITUDES ABOUT MONEY. About one-quarter (26%) of African Americans feel “up to the challenge” of saving money for the future (compared to 16%
Outlook 2013, Outlook 2016, or volume-licensed versions of Outlook 2019 Support for Outlook 2013, 2016, and volume-licensed versions of Outlook 2019 ends in December 2021. To continue using the Outlook integration after the end of 2021, make plans now to upgrade to the latest versions of Outlook and Windows. Outlook on the web
kills more African Americans than any other type of cancer.22 In 2019, it is estimated that 25,390 African Americans will be diagnosed with lung cancer and 16,550 23African Americans will die from it. The relative five year survival rate for lung cancer is lower among African Americans than among whites (16% compared to 19%).24
compound identities—African Americans, Asian Americans, Hispanic Americans, Irish Americans, Italian Americans, Native Americans—that jointly indicate the communities from which they come and the nation they now sh
African Americans and Clinical Research If you have ever taken a pill or been treated for an illness, you have seen the benefit of clinical trials. Each year, thousands of African Americans take part in clinical trials to help find ways to prevent, treat, and cure illness. Clinical trials help African Americans and all people enjoy better health.
African-Americans in the Early Twentieth Century 1895-1928 Third Written Paper on African American Writing Assignment due April 9 by 11:50 p.m. Week 11: The African-American Odyssey 17. African Americans and the 1920s 1918-1929 Week 12: The African-American Odyssey 18. Black Protest, the Grea
o Microsoft Outlook 2000 o Microsoft Outlook 2002 o Microsoft Outlook 2003 o Microsoft Outlook 2007 o Microsoft Outlook 2010 o Microsoft Outlook 2013 o Microsoft Outlook 98 o Microsoft PowerPoint 2000 o Microsoft PowerPoint 2002 – Normal User o Microsoft PowerPoint 2002 – Power User o Microsoft PowerPoint 2002 – Whole Test
Outlook 2003 with Exchange 2010 still gives an excellent email experience and the improvements made in Outlook 2007, Outlook 2010 and Outlook 2013 are relatively minor. Outlook 2003 was the first version of Outlook capable of connecting to an Exchange server over the Internet, as opposed to an Exchange server located on the same LAN.
2 Annual Book of ASTM Standards, Vol 01.06. 3 Annual Book of ASTM Standards, Vol 01.01. 4 Annual Book of ASTM Standards, Vol 15.08. 5 Annual Book of ASTM Standards, Vol 03.02. 6 Annual Book of ASTM Standards, Vol 02.05. 7 Annual Book of ASTM Standards, Vol 01.08. 8 Available from Standardization Documents Order Desk, Bldg. 4 Section D, 700 Robbins Ave., Philadelphia, PA 19111-5094, Attn: NPODS .
