The American Financial Experience

It has been four years since Prudential released the findings of our first African American Financial Experience survey, and results from the 2015 study show continued confidence, optimism, advancement and growing affluence for this community. This year, we’ve enhanced the study to capture the unique needs of two vital subsets of this community — the caregivers who provide physical and financial support to loved ones, and the veterans who have transitioned to civilian life. What we found is compelling data about African Americans who are dedicated to service, to others and to our country.

The study builds on the findings of the 2011 and 2013 African American Financial Experience surveys and reflects similar trends around reducing debt, accessing financial advice, and retirement preparedness. The survey validated the universal need for trusting relationships, sound financial guidance and relevant financial education for all Americans. Beyond that, the study highlights those factors that are particularly important in shaping the financial experience of many African Americans including family-oriented financial priorities, participation in employer-sponsored retirement plans, a greater focus on saving vs. investing, and the influence of faith-based institutions on financial education.

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