• SOURCE: Prudential Financial, Inc.

New Study: African American's Have Improved Financial Outlook



Audio Package
ANCHOR LEAD: A new report is out highlighting the financial goals, concerns and progress of the African American community. Brian Osuch has more. (:60) SCRIPT: Newsbreak, I'm Brian Osuch. Prudential is out with their 2013 African American Financial Experience Survey and the group's Michael L. Davis says many respondents feel optimist about their financial futures. CUT: (Davis) Fifty-percent of African Americans said they feel better about their financial condition today than they did just a year ago. SCRIPT: The survey also found some consistency around some concerns. CUT: (Davis) Things like debt, current expenses, also with respect to retirement… the retirement savings amounts tended to be lower than those levels were in the overall population. SCRIPT: So, how can these financial futures become more secure? CUT: (Davis) While we saw African Americans were participating in their retirement plans, they often weren't participating at levels that fully took advantage of a company match. So it's really important to take full advantage of that match. It's important to start saving for retirement early, and then try not to take loans against it if you can possibly avoid it. SCRIPT: For more on the survey, log onto Prudential-dot-com-forward-slash-African Americans. That's Newsbreak from Prudential. I'm Brian Osuch.
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