Social researchers and financial experts agree that women investing for retirement--especially those from African-American, Latino and other ethnic communities--are facing tough choices in the wake of the last decade’s financial downturns.

Today’s tough economy leaves female retirees—regardless of whether they’ve had financial guidance—to grapple with decisions about how to invest their hard earned savings. Although retirement research and best-practice recommendations may be sparse, one thing many working women have going for them is their resilience.

---

Experts say that data is limited on how women invest for their post-retirement years, partly because of individuals’ reluctance to share information about their finances, said Wilhelmina Leigh, a senior research associate in economic security for the Joint Center for Political and Economic Studies, in Washington, D.C.

Read more at New America Media.

African Americans and white Americans differ in the type and magnitude of their asset holdings. Perhaps as a result of these differences, the two groups also have differing perspectives on and responses to the 2008-2009 economic downturn. Similarities of perspective exist between the groups as well. For example, both African Americans and whites report similar levels of confidence in the nation’s financial institutions and sector.

These findings are from a survey of 850 African Americans and 850 members of the general U.S. population (including 721 white Americans) that was conducted for the Joint Center for Political and Economic Studies by Research America between May 21 and June 9, 2009. The Joint Center for Political and Economic Studies National Opinion Poll about Social Security, Retirement Savings and the Economic Downturn found many striking differences between African Americans and whites on these topics.

This publication can be downloaded by clicking the icon below.

In a briefing held Friday by the National Academy of Social Insurance (NASI), Social Security advocates said cutting seniors’ benefits to pay down the nation’s deficit would be highly destructive for current Social Security recipients and future beneficiaries.

Recently, lawmakers have suggested reforming America’s Social Security plan out of concern that it will run out of money by 2036.

Wilhelmina Leigh, Senior Research Associate at the Joint Center for Political and Economic Studies, pointed to the deficit reduction plan co-authored last year by Erskine Bowles and Alan Simpson.

Under the proposal, the full-benefit retirement age would be increased beyond 67, the cost-of-living adjustment would be lowered for current and future beneficiaries and the formula for calculating benefits would be heavily altered.

Leigh said the proposal “will close the shortfall by cutting benefits.”

Read more at The Talk Radio News Service.

On Friday the U.S. ratings agency Standard & Poor's slapped the United States with a downgrade, demoting the country from a top-notch AAA credit rating to AA+. Although the nation's other two major agencies, Moody's Investor Service and Fitch Ratings, reaffirmed the United States' AAA credit rating, S&P's move triggered fear through the stock market, which on Monday had its worst day since the 2008 financial crisis.

S&P took further action on Monday, downgrading to AA+ the credit ratings of Fannie Mae, Freddie Mac and other entities linked to long-term U.S. debt.

---

So ... are we going to be OK or not? The Root spoke with Wilhelmina A. Leigh, senior research associate on economic security for the Joint Center of Political and Economic Studies about what the credit downgrade means for your finances, S&P's spotty track record on good judgment and whether this will give Congress the urgency it needs to seriously tackle the deficit.

Read more at The Root.

On August 1, 2011, the Joint Center conducted a webinar that focused on the challenges facing African Americans and other people of color, and particularly their concerns that measures related to the debt ceiling debate could exacerbate already high unemployment and undermine short-term and long-term economic prospects. Congressman Bobby Scott (D-VA) joined several scholars and economists in a spirited discussion on the day before the President signed the bill into law.

The webinar audio and slideshow can be viewed here. Slides are also available for download.

WHUR Interview with Gina Wood is here.

The most successful blacks and Hispanics are more likely to have poor neighbors than are whites, according to a new analysis of Census data.

The average affluent black and Hispanic household — defined in the study as earning more than $75,000 a year — lives in a poorer neighborhood than the average lower-income non-Hispanic white household that makes less than $40,000 a year.

---

Affluent blacks are more exposed to poverty than the average non-Hispanic white in all but two of the top 50 metro areas with the most black households: Las Vegas and Riverside, Calif.

"Newer growth is less segregated," says Roderick Harrison, sociologist at Howard University and at the Joint Center for Political and Economic Studies, a Washington, D.C., think tank. "People are coming into neighborhoods that have not become characterized as black or white or Hispanic. They're moving in on a more equal footing."

Read more at USA Today, or Hispanic Business.

This article was previously available at livingstondaily.com.

A new study of U.S. census data reveals that wealth gaps between whites and minorities in the United States have grown to their widest levels since the U.S. government began tracking them a quarter-century ago. White Americans now have on average 20 times the net worth of African Americans and 18 times that of Latinos. According to the Pew Research Center, the gaps were compounded during the housing bust and the subsequent recession, and essentially wiped out much of the economic progress made by people of color over the past 20 years. We discuss the center’s study with Roderick Harrison, sociologist and demographer, and former chief of racial statistics at the Census Bureau. “Any hopes or aspirations, particularly based solely on Obama’s election, that we had reached some kind of post-racial state were close to delusional,” says Harrison. “This report is pointing to just how much the socioeconomic inequalities have been exacerbated by the recession and poor economy.”

Read, listen, and watch more at Democracy Now!

The Joint Center for Political and Economic Studies has scheduled a webinar today to focus on the challenges facing African Americans and other people of color, and particularly their concerns that measures related to the debt ceiling debate could exacerbate already high unemployment and undermine short-term and long-term economic prospects.

Journalists who dial in will have the opportunity to question members of two panels – the first of which will be comprised of a member of the Congressional Black Caucus, the White House National Economic Council and leading national economists and will examine the details and projected impact of the negotiated agreement that Congress will vote on.  The second panel will delve further into the agreement’s program reductions on members of vulnerable populations and on both discretionary and entitlement programs that they rely upon.

White Americans now have more than 20 times the wealth of the average black household and 18 times more wealth than that of Latino household, according to a study released Monday by the Pew Research Center.

The wealth gap between blacks and whites continues to grow, the study found, and is now the widest in 25 years.

The study confirmed what many already knew — the “Great Recession” has wreaked havoc on the nation’s must vulnerable communities.

Read more at Politic365.