Equality through equities: African Americans turning to stocks to build wealth. (Facts & Figures).Despite war, recession, and a bear market, African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. continued to invest in the stock market last year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 2002 Ariel-Schwab Black Investor Survey. The survey, released this past June, compared 500 blacks with household incomes of at least $50,000 with the same number of Caucasians. The survey found that 74% of high income blacks today own stocks or stock funds, which is 30% higher than the 1998 figure of 57%. The recession and events of Sept. 11 did not cause many to bail out of the market. 0nly 6% of African Americans (7% of Caucasians) said they liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. investments as a result of these occurrences. These findings aren't surprising, according to Carla Arnold Foster, vice president of Specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. Marketing for Charles Schwab Charles Schwab can refer to:
Hugh Price The name Hugh Price may refer to:
2. The law requires a man who has a claim to enforce it in proper time, while the adverse party has it in his power to defend himself; and if by his neglect to do so, he cannot afterwards establish such claim, the and planning by black investors. "When you think about economic development, it's about getting good jobs, buying homes, starting businesses, and accumulating wealth," he says. "We also have to pound home the message that it [investing] has to be a part of the strategy that each family pursues in wealth creation."
Trends in Market Participation *
African American White
1998 57% 81%
2000 64% 82%
2001 69% 79%
2002 74% 84%
Note: Table made from bar graph.
Goal for Saving and Investing *
Africa American White
To leave money to your children 7% 5%
To obtain a better lifestyle 13% 8%
To be prepared for an emergency or
future need 16% 12%
To send children to college 19% 13%
For retirement 46% 61%
SOURCE: 2002 ARIEL-SCHWAB BLACK INVESTOR SURVEY
* HOUSEHOLDS EARNING $50,000 OR MORE ANNUALLY
Note: Table made from bar graph.
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion