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Survey: On the African-American Financial Experience

Michelle Singletary takes a look at the latest report on black financial habits.


By Michelle Singletary

I frequently find myself in a debate with a dear friend about the slew of surveys concerning the financial behavior of African Americans.

When the companies release their findings, which often show blacks lagging in savings and investment holdings, the question he's left with is: Are the results because of race, class or poor marketing?

The most recent look at black financial habits comes from Prudential Financial, which released "The African American Financial Experience," a survey that is part of the company's research on multicultural markets.

Prudential found the same thing other financial companies have reported -- that although a majority of African Americans want advice on saving and planning for retirement, many say they don't know or can't find a professional they can trust.

Read the rest of this story at the Washington Post.

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