Despite optimism, financial concerns remain for middle-income African Americans. Story from Primerica
Half have not invested any personal savings.Only about one-quarter feel “up to the challenge” of saving money for the future ., many have good reason for a positive outlook, said Ivan Earle, senior national sales director for Primerica, who works with the Davis family.
The Financial Security Monitor found that many middle-income African American families like the Davises want advice, and they want to work with a financial professional. Here’s the guidance Earle shares with anyone who asks about how to achieve their financial goals:Earle’s client Mary Ann Glenn of Columbia, South Carolina, worked hard to get where she is today.
Glenn’s financial education and planning gives her and her husband peace of mind, and like the Davises, they’ve passed that lesson on to the next generation. Earle doesn’t only focus on saving, however. He also tells families to make sure they have a plan for protecting their finances should anything happen to the breadwinner. Through term life insurance, Earle helps families get the protection they need.Six in 10 African Americans surveyed for the Primerica Financial Security Monitor said they trust information from financial professionals over any other source on issues like reducing debt, purchasing insurance, saving money or investing.
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