Few African Americans Take Advantage of Retirement Planning Products

Recent research shows that most African Americans/blacks age 50-plus use financial products, such as checking accounts and savings accounts. But only 1 in 10 use retirement planning products, such as a 401(k) plan or individual retirement account (IRA). Millions of Americans haven’t saved any money for their golden years, and millions of others haven’t saved nearly enough. According to the Federal Reserve, the median balance of retirement accounts totals less than $60,000, and many African Americans/blacks have saved even less. >> AARP …

Money Market Funds Just Got Safer … Or Did They?

After years of debate, the Securities and Exchange Commission this week finally adopted new rules designed to shore up the stability of the $2.6 trillion money market  industry. The question now is, will it help? While the changes largely affect institutional investors, one provision also applies to small investors by temporarily restricting their access to their money if a fund has liquidity problems. For decades money market funds were seen as reliably boring, investing in government securities or high-grade corporate debt. Though the funds’ …