Market Watch, February 4, 2023, Why It’s So Hard For Black Americans To Save For Retirement — And How The Pandemic Escalated The Racial Wealth Gap
“If you have very low levels of income, you have less discretionary income, and that means you have most of your money going to immediate needs: food, shelter, clothing, basic supplies,” said Dedrick Asante-Muhammad, chief of organizing, policy, and equity at National Community Reinvestment Coalition. “There isn’t as much to invest.” Those who do invest may have to be more conservative with their asset allocations in an effort to preserve their money, which then limits returns, he added.
