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How start investing for the long-term

NNPA NEWSWIRE — Ask yourself why you want to invest: Is it to prepare for retirement, buy a home, or start a new business? How much money will you need for your goals? Then, organize your investment priorities by the amount of time needed to achieve them. Writing them down can help you think clearly about which goals you have, and which you need to start with.

Published

4 years ago

November 8, 2019

Oakland Post

It’s never too early to start investing in your retirement. Take advantage of your employer’s plan, if they offer one. Set aside as much money as your employer is willing to match. (Photo: iStockphoto / NNPA)

Learn about the investment options available to you that make the most sense for your long-term financial success.

Investing can help your money grow. But before you move your money to anything riskier than a savings account or IRA, you should review the ways you can do so.

Making well-advised investments comes down to cultivating the right mindset and getting educated about the options available to you. Investing can be a means to secure your long-term financial health, but you should also consider the risks attached to each investment option, and how these relate to your own willingness to take on risk. Framing investment risk against your own long-term priorities can help you decide what investment vehicles will be best.

Follow these key steps to hone your investing strategy.

Choose investment priorities

Ask yourself why you want to invest: Is it to prepare for retirement, buy a home, or start a new business? How much money will you need for your goals? Then, organize your investment priorities by the amount of time needed to achieve them. Writing them down can help you think clearly about which goals you have, and which you need to start with.

Your investment priorities should also be informed by your particular financial situation. You should invest no more than you can afford to lose. That way, you won’t jeopardize your short-term financial health as you work toward achieving more long-term aims.

Invest in your company’s employer-sponsored retirement plan

It’s never too early to start investing in your retirement. Take advantage of your employer’s plan, if they offer one. Set aside as much money as your employer is willing to match.

Employer-sponsored retirement plans can take many forms, such as a 401(k), 403(b), or 457(b). Some people choose to manage their own investment portfolio by investing in a mixture of stocks and bonds. A portfolio with more stocks than bonds is considered higher risk, along with a potential for high returns on investment, while a portfolio with more bonds than stocks will be the opposite. If you choose to manage your own retirement portfolio, think about which balance makes the most sense for you.

That balance could also shift over time depending on your risk tolerance as you get older. For example, as you near retirement, investing in less risky bonds rather than stocks could be a better approach. Generally, you can afford to take on more risk earlier in your career because you have time to adjust if the market takes a downturn before you withdraw the money. Once you’re closer to retirement, you’ll want to take on less risk to help ensure your retirement funds are more secure when you need them.

Work with a financial planner

Everyone prefers a different level of autonomy when it comes to investing. While those who want to retain complete control can pursue a self-directed investment strategy, many find it helpful to seek outside advice. You can get started by visiting the Hands on Banking^® website to get an understanding of the basics of investing and retirement, like how social security works, or what the difference is between stocks and bonds.

Another option to consider for guidance is robo-advisors. These online platforms provide an automated investment service, some of which with access to human financial advice. You can also seek the advice of a Certified Financial Planner^TM (CFP^®) to build a unique plan that works best for you. A CFP can help you manage your goals and simplify the complex world of investing. To find a CFP in your area, visit the Financial Planning Association’s national database. See if there are free resources available to you locally as well.

As you plan to invest, keep your personal financial goals in mind and be ready to adjust your plan as your situation changes. When you prepare, investments can be a great way to help you reach financial goals.

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IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78

NNPA NEWSWIRE — Born on September 4, 1945, in Los Angeles, California, activist Ramona Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.
The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

Published

3 weeks ago

April 3, 2024

Stacy M. Brown

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Once upon a time, Black Americans were simply known as colored people, or Negroes. That is until Ramona Edelin came along. The activist, renowned for her pivotal roles in advancing civil rights, education reform, and community empowerment, died at her D.C. residence last month at the age of 78. Her death, finally confirmed this week by Barnaby Towns, a communications strategist who collaborated with Dr. Edelin, was attributed to cancer.

Born on September 4, 1945, in Los Angeles, California, Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.

Edelin’s contributions to academia and activism were manifold. She was pivotal in popularizing the term “African American” alongside Rev. Jesse L. Jackson in the late 1980s.

Jackson had announced the preference for “African American,” speaking for summit organizers that included Dr. Edelin. “Just as we were called Colored, but were not that, and then Negro, but not that, to be called Black is just as baseless,” he said, adding that “African American” “has cultural integrity” and “puts us in our proper historical context.”

Later, Edelin told Ebony magazine, “Calling ourselves African Americans is the first step in the cultural offensive,” while linking the name change to a “cultural renaissance” in which Black Americans reconnected with their history and heritage.

“Who are we if we don’t acknowledge our motherland?” she asked later. “When a child in a ghetto calls himself African American, immediately he’s international. You’ve taken him from the ghetto and put him on the globe.”

The HistoryMakers bio noted that Edelin’s academic pursuits led her to found and chair the Department of African American Studies at Northeastern University, where she established herself as a leading voice.

Transitioning from academia to advocacy, Edelin joined the National Urban Coalition in 1977, eventually ascending to president and CEO. During her tenure, she spearheaded initiatives such as the “Say Yes to a Youngster’s Future” program, which provided crucial support in math, science, and technology to youth and teachers of color in urban areas. Her biography noted that Edelin’s efforts extended nationwide through partnerships with organizations like the National Science Foundation and the United States Department of Education.

President Bill Clinton recognized Edelin’s expertise by appointing her to the Presidential Board on Historically Black Colleges and Universities in 1998. She also co-founded and served as treasurer of the Black Leadership Forum, solidifying her standing as a respected leader in African American communities.

Beyond her professional achievements, Edelin dedicated herself to numerous boards and committees, including chairing the District of Columbia Educational Goals 2000 Panel and contributing to the Federal Advisory Committee for the Black Community Crusade for Children.

Throughout her life, Edelin received widespread recognition for her contributions. Ebony magazine honored her as one of the 100 Most Influential Black Americans, and she received prestigious awards such as the Southern Christian Leadership Award for Progressive Leadership and the IBM Community Executive Program Award.

The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

Stacy M. Brown

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Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues

NNPA NEWSWIRE — Recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.
The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

Published

3 weeks ago

April 3, 2024

Stacy M. Brown

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Tennessee State University (TSU), the state’s only public historically Black college and university (HBCU), faces a tumultuous future as Gov. Bill Lee dissolved its board, a move supported by racist conservatives and MAGA Republicans in the Tennessee General Assembly, who follow the lead of the twice-impeached, four-times indicted, alleged sexual predator former President Donald Trump. Educators and others have denounced the move as an attack on diversity, equity, and inclusion (DE&I) and a grave setback for higher education.

Critics argue that TSU’s purported financial mismanagement is a manufactured crisis rooted in decades of underinvestment by the state government. They’ve noted that it continues a trend by conservatives and the racist MAGA movement to eliminate opportunities for Blacks in education, corporate America, and the public sector.

Gevin Reynolds, a former speechwriter for Vice President Kamala Harris, emphasizes in an op-ed that TSU’s financial difficulties are not the result of university leadership because a recent audit found no evidence of fraud or malfeasance.

Reynolds noted that the disbanding of TSU’s board is not an isolated incident but part of a broader assault on DE&I initiatives nationwide. Ten states, including Tennessee, have enacted laws banning DE&I policies on college campuses, while governors appointing MAGA loyalists to university trustee positions further undermine efforts to promote inclusivity and equality.

Moreover, recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.

The actions echo historical efforts to suppress Black progress, reminiscent of the violent backlash against gains made during the Reconstruction era. President Joe Biden warned during an appearance in New York last month that Trump desires to bring the nation back to the 18th and 19th centuries – in other words, to see, among other things, African Americans back in the chains of slavery, women subservient to men without any say over their bodies, and all voting rights restricted to white men.

The parallels are stark, with white supremacist ideologies used to justify attacks on Black institutions and disenfranchise marginalized communities, Reynolds argued.

In response to these challenges, advocates stress the urgency of collective action to defend democracy and combat systemic racism. Understanding that attacks on institutions like TSU are symptomatic of broader threats to democratic norms, they call for increased civic engagement and voting at all levels of government.

The actions of people dedicated to upholding the principles of inclusivity, equity, and justice for all will determine the outcome of the ongoing fight for democracy, Reynolds noted. “We are in a war for our democracy, one whose outcome will be determined by every line on every ballot at every precinct,” he stated.

The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

Stacy M. Brown

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Braxton Haulcy and the Expansion of Walker|West Music Academy

May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …
The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.