Posted by
Playful Walrus on Thursday, July 16, 2009 6:00:00 PM
African Americans and Latinos are saving even less for retirement than whites. Gail MarksJarvis has the Los Angeles Times article.
Millions of Americans aren't saving enough for retirement, but African American and Latino investors, on average, are further behind than whites and are more likely to be a greater burden to their families because they save too little and invest too conservatively, new research has found.
Well, there can only be one explanation for this - whites refuse to take money from them! The whites would rather not have the investment money to work with than get it from African Americans and Latinos! It couldn’t possibly be because of people freely choosing to make decisions that put themselves in these situations, could it?
Although some people assume that insufficient savings are a result of low incomes, Hobson said her research indicates the problems come from behaviors such as waiting too long to start investing, borrowing too much from 401(k) plans and avoiding stocks.
When researchers compared people of similar income levels, they found that black and Latino investors accumulated less than whites in 401(k) plans.
Well let's see, since these group have been "historically oppressed", then by the Left's reasoning, it is the government's responsibility to make their lives better and give them things at the expense of the majority - even if they could have already gotten those things from doing the same things the white were doing. Taxpayer money should be used to end the disparity. Let's get the feds to write checks to African Americans and Latinos.
/sarcasm