$1 million dollars use to sound like a lot of money, but the more I live, the more I realize that it's not going to go as far as it use to.

Financial experts are now saying that the average American will need at least $1 million dollars to retire comfortably and that is living on 3 to 4% of the $1 million over a 20-30 year period.

Now, first let me say that I'm sure a lot of assumptions have been figured into that. For instance, your house would have to be paid for and having debt would be a "no-no" and of course, no travel and investing in your grandchildren or contributions to worthy causes. They are probably not figured into that factor either.

I'm very concerned in particular for African Americans who I feel aren't even aware of this fact and many of our people are making a decent income, but are living paycheck to paycheck.

What's worse is that the 20-30 year job is obsolete, so we are in trouble as African Americans represent a very large percentage of the "Baby Boomers" population. We will be facing the possiblity of having to work way past the 60 years of age zone and also the possibliy of having to once again depend on the government for housing, if we don't have enough money to get us through our retirement years.

So, what can we do about this and how can those of us who know what's happening make a difference in the African American community? Let me know what you think!

Daring to Dream!

Trina Newby
C0-founder
Black Business America