Half of African Americans ages 18-25 consider themselves to be well-informed about the Social Security system. When compared to their older counterparts, however, these youngest African American adults have more correct information about the big-picture impacts of the Social Security system than about various details of the system's operations, e.g., age(s) at which one becomes eligible, how Social Security taxes are spent. Perhaps in part because of the large number of years between their current ages and the eligibility age(s) for Social Security, 18- to 25-year-old African Americans are less likely to view as major problems and more likely to view as minor problems known demographic and labor market factors that will impinge upon the system's solvency before their retirement years. These youngest adults also are more supportive than their older counterparts of selected reform proposals that could reduce the amounts that retirees receive in benefits from the Social Security system.

Perhaps most importantly, when compared to older African Americans, these youngest African American adults are simultaneously less likely to believe that Social Security will be their major source of retirement income and less likely to have begun accumulating other forms of retirement savings. ere may be good reasons for this behavior, such as indebtedness from post-secondary education. It does not bode well, however, for the financial security of members of this age cohort during retirement.

Joint Center for Political and Economic Studies National Opinion Poll of African American Adults About Social Security and Wealth identified these and other findings. The poll, conducted in late 2005, surveyed 850 African Americans ages 18 and older. is fact sheet features the major findings about African Americans ages 18-25, who constitute 18 percent of the survey sample.

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Publication date: June 2006