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The lingering coronavirus is forcing older Black Americans to look much closer at their finances, including income stability, debt and retirement savings.
A recent report from AARP reveals that some 80% of Blacks are concerned about COVID-19 and its financial impact versus 47% of whites (See AARP infographic chart). The powerful nonprofit, which has more than 38 million members and focuses on issues affecting individuals over the age of 50, connected with
BLACK ENTERPRISE on how to build and preserve Black wealth during these tumultuous times.
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Much of the concern about the finances of the 50-plus demographic is being fueled by forces such as rising unemployment and uncertainty about how long the pandemic will devastate the economy. Those developments have made millions of Americans including Blacks increasingly worried about their prospects for retirement than in previous years.