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Article: Chicago Urban League spurring Blacks to save, invest
- Article from:
- Chicago Defender
- Article date:
- May 24, 2006
- Author:
CopyrightCopyright Real Times, Inc. May 24, 2006. Provided by ProQuest LLC. (Hide copyright information)
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Despite the increase in net worth among Blacks, surveys conducted by Ariel Capital Management LLC and Charles Schwab and Co. Inc. show that Blacks allocate less of their income to long-term investments than others with similar incomes. Blacks cite the primary reason for not investing as a lack of knowledge.
To encourage long-term investing, the Chicago Urban League offers classes to educate members on personal finance. Joe Carter, financial education coordinator for the Chicago Urban League, said workshops are offered to adultsand high-school students twice a month, on a Tuesday and Saturday.
"It's important to invest and have these types of initiatives, preferably while they are younger ...