"…Black families have yet to feel the end of the recession because, generally speaking, blacks bypass the stock market — where wealth is created — and instead, invest in their homes.  …We’re still not investing in equities in the stock market, we have more of our wealth in the housing market, and the housing market got hit by a recession and therefore we took a bigger hit than white Americans — who are still more heavily invested in the stock market. …Research shows that African Americans are not as comfortable in the stock market; not as comfortable with starting a 401(k) plan at work; and we are not compounding our money.”

John Rogers, chairman, Ariel Capital Management, and chairman, U.S. President's Advisory Council on Financial Capability

 

 

Pin It on Pinterest

Share This