May 14, 2014

Most female baby boomers and Generation Xers fear they will not have sufficient money for retirement, a situation that’s creating an opportunity for financial advisers, according to a report released Wednesday by the Insured Retirement Institute.
More than two thirds — 70% — of female baby boomers and 88% of Gen Xers have “weak or no confidence” that they will have enough money to “live comfortably throughout [their] retirement years,” the IRI study shows. Roughly the same number — 66% of baby boomers and 88% of Gen Xers — have “weak or no confidence” that they’ve done a good job preparing financially for retirement.

One reason for their bleak outlook about retirement is that nearly 20% of baby boomer women and 35% of Generation X women do not have any retirement savings, according to the report. Of the Gen X women who have saved for retirement, 44% have accumulated less than $50,000.

The study also found that women are not seeking financial advice. More than half of baby boomer women and 75% of Gen X women have not consulted a financial adviser.

For members of the Congressional Black Caucus, these are tough days.

The Supreme Court upended two major civil rights laws in recent years, striking down key provisions of the Voting Rights Act and upholding Michigan’s ban on affirmative action.

The CBC’s agenda is gaining little traction on Capitol Hill, where Republican leaders in the House have shown little interest in legislation that would restore provisions of the landmark civil rights law or protect affirmative action.
It’s enough to leave CBC members downbeat about the court’s role in civil rights work – and ready to draft their next steps.