CBX Daily 4/26/2024

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CultureBanx Team
April 26, 2024

Today retirement for Americans is getting scary, but let’s start with how America’s aging population is growing weary…

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Does America’s Aging Population Impact The Wealth Gap?

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The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.

Americans In A Ticking Time Bomb Sprinting Towards Retirement's Deadline

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Retirement is a dream many Americans hold dear, a time to relax, enjoy life, and reap the rewards of years of hard work. However, a dark cloud hangs over this dream as a retirement crisis looms. Many Americans are struggling to save enough for their golden years, and the situation is becoming increasingly dire. Just 44% of US adults are able to afford an emergency expense of $1,000 or more from their savings. Further, the median retiree has a meager $142,500 in savings, while a shocking 25% haven't saved anything at all.

How Reinstating Net Neutrality Impacts Black Entrepreneurs

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The Federal Communications Commission (FCC) recently voted to advance a proposal aimed at resurrecting the previously rescinded net neutrality rules. This move comes five years after the rules were repealed by the previous administration. Since net neutrality is of particular importance for African Americans as an essential tool for activism, organizing, and the dissemination of information within the community, the potential impacts of reinstatement on the Black community is a major focal point.

Beyoncé's Track Is Re-Igniting Levi's In New Retail Surge

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Levi Strauss & Co. (LEVI +2.55%) has registered a 20% rise in footfall to stores across the country. Fashion trends may fade, but denim doesn’t thanks to the Beyoncé effect. The Cowboy Carter mastermind has propelled the clothing company Levi Strauss’ share price by 20 percent, all thanks to her giving the jeans maker a shout out on her song "Levii's Jeans". A week after Beyoncé's eighth album dropped, the exciting jump happened and as a gesture of gratitude to the artist, Levi's quickly changed their IG account name to “Levii’s”.

Major Key Alert: Black Women Homebuyers Surge Up 18%

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Black women are less concerned with societal norms and are choosing to live their best lives by outpacing men in homeownership. Between June 2020 and September 2021, Black female buyers surged 18.1% compared to the previous year, versus an 11.5% increase in Black male buyers over the same horizon. They are acquiring higher levels of education and have found their independence through one of the greatest assets along the way to building generational wealth. 

Vibes of the Week

Aging while you “Suffer In Silence?” Is this what old age looks like? Tee Grizzley with a bop in our CBX Vibes!