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An overview of how systemic inequity affects retirement preparedness. I want to add that I have added this information to my blog because I have an fidelity account and they we able to assist me. They are helping me to get where I would like to be prior to retirement. BY FIDELITY INVESTMENTS Published on July 13, 2021 Note: At Fidelity, we think broadly about how to support and promote diverse perspectives at our firm and also across the financial services industry and beyond. We’re committed to listening and exploring within this space, and to sharing the best practices we’ve learned along the way. To address racial inequalities, we must acknowledge they exist and understand the reasons why. Here, we leverage the Federal Reserve's Survey of Consumer Finances to explore factors that threaten financial security for many Black Americans while highlighting opportunities we see in our Fidelity research and insights to help close the financial wellness gap among underrepresented employees. What threatens financial security in retirement for Black Americans? Generational Wealth Are we doing what we need to do as Black Americans and do we educate our black young men and women on how to prepare for retirement. Addressing racial disparities in finance isn’t a quick fix. However, we are committed to doing our part and sharing steps employers can also take to help close the gap. Make Educational Outreach a Priority Helping employees understand how they can reach their retirement goals is impactful. 7 in 10 employees say access to help with savings goals is very important.5 Encourage Employees to: Create an emergency fund to establish a foundation. Start contributing or make an incremental increase to their retirement savings plan. If they are able, communicate the importance of receiving full company matching contributions. For more information on ways to take action and resources available, please contact your Fidelity Representative. Source unless otherwise noted: U.S. Federal Reserve Board, Survey of Consumer Finances. Based on latest available data from 2019. 1Dushi, Irena, et al. “The Importance of Social Security Benefits to the Income of the Aged Population.” Social Security Bulletin, Vol. 77 No. 2, May 2017. Social Security Administration. www.ssa.gov/policy/docs/ssb/v77n2/v77n2p1.html 2Social Security Is Important to African Americans.” Social Security Fact Sheet, July 2019, Social Security Administration www.ssa.gov/news/press/factsheets/africanamer-alt. 3Fidelity Investments Inclusive Needs & Engagement online surveys among 3,596 participants who participate in either a 401(k) or 403(b) plan with their current employer. The survey was conducted by CMI Research, an independent third-party research firm, on behalf of Fidelity in September 2020. 4Fidelity Investments 2020 Plan Sponsor Attitudes Survey. 5Fidelity Investments Help and Advice survey, April 2017. Data collection was completed by CMI Research. Fidelity Investments was not identified as the survey sponsor. CMI Research is an independent research firm not affiliated with Fidelity Investments. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 © 2021 FMR LLC. All rights reserved.

Is college after high school graduation for you? Let's talk about it! BY AMANDA RANDONE AND KRISTI KELLOGG APRIL 4, 2019 Wondering what to do after high school? Many seniors transition straight from the halls of high school to the a college campus, this is one of many paths you can take — so don’t grab your shower caddy and head for the dorms just yet. There's no law that says you have to go to college three months after you graduate from high school. Considering a non-traditional post-graduation path can give you a better sense of purpose for whatever you decide you want to do in life. You can also defer most college acceptances for a year, so you won't have to start from scratch when you return. If you're not convinced though, or have no idea what you'd do with a whole year off, consider some of these alternate post-graduation paths. Save Money College is expensive. Beyond the day-to-day living costs, students find themselves paying off debt for years. Instead of heading straight to school, consider a year of work to save up for this pricey academic adventure. We’re not saying to set your eyes on your dream job, but starting off small will pay off in the near future when you do set out for school. Hit up your favorite local shops and retail stores to see if they're hiring or ask around to see if people in your neighborhood need a long-term babysitter or tutor. These kinds of jobs can lead to important personal connections in the future, or a more involved, paid project. You can also search for paid internships that offer openings for students who have deferred college for a year. While it may not be glamorous, this experience could be an important lesson in managing your finances. When you're done, you’ll be better prepared for college, and not only because you'll have money in your pocket, but because you'll be armed with the basic principles of financial responsibility. Concentrate on Your Passion Are you a talented painter, but school always had you reaching for pens over paint brushes? Always had an eye for photography but never the opportunity to use it? Instead of rushing to college, which will have you equally as bound to your textbooks, consider allowing yourself time for a skill you really want to cultivate. The summer before starting her BFA program at Elon University, Blaine Morris was contacted about an internship on the writing team of the U.S. version of the poplar U.K. teen drama Skins. After spending time in their writers’ room, she was asked to become a permanent teen consultant. The creator eventually pulled Blaine aside to tell her the part she had given so much feedback about, lesbian cheerleader Tea, was written for her. “I was utterly dumbfounded; this was not part of the life plan. This opportunity created an incredibly tough decision for me to make — start school at a top rated BFA program and follow my life long dream of being on Broadway, or play a character that I loved and helped create, on a TV show with no clear outcome.” Blaine had spent her entire high school career focused on following the traditional path toward college, but says, "I knew that if I left the opportunity behind, it would be one of my biggest regrets.” Two weeks after moving into Elon, Blaine packed her bags and flew to Toronto to film Skins. She gave up going straight to college for an experience and opportunity she couldn’t refuse, and one she had started to create for herself before graduating. Plus, when her experience on Skins wrapped, she was still able to go to college, and she's now pursuing producing, writing, and directing classes at Columbia University in New York. Go After a Fellowship If you are confident you have a great idea, see if there are other people out there who agree. While it's still smart to keep your sights set on college, seek out fellowships that may offer an alternative route. These are competitive, but that’s how you know if someone is willing to invest in you and your idea. The time after graduation may be the moment to take off with your vision — and with the support of a fellowship, you will have the financial backup, and often the mentorship, necessary to succeed. “The fellowship gave me the financial and social capital to develop myself and my ideas in a setting like Silicon Valley and New York City, where optimists are celebrated,” says John Marbach, a 2011 Thiel Fellowship recipient. “I feel that taking time to vigorously pursue my interests outside of school was one of the best decisions I ever made. I learned a lot about the dedication and exceptional skill required to build amazing software products, but I learned even more about myself, my relationships, and the way I want to impact the world.” Become an Online Entrepreneur Getting a fellowship isn't the only path to entrepreneurial success. You can bootstrap your own business, and there are limitless online business opportunities. Have a knack for fashion and marketing? Consider starting an online store with Shopify, or creating an eBay empire. Are you artistic or crafty? You can make your own wares and sell them on Etsy. Are you an amazing writer with a lot of opinions? You could start a blog and monetize it with ads. Or, you could start a YouTube channel to showcase any passion you have — who says you can't be the next big YouTube star? Join the Military Joining the military is another option for what to do after high school. You'll gain valuable experience during your years in service and enter the work force with plenty of real world accomplishments to add to your resume. Joining the military, of course, is a major commitment: you'll serve a minimum of five to eight years, no matter which branch you choose. If military service is something you're interested in, take the time to research each of the branches thoroughly and find out which is right for you. As an added bonus, if you do decide you want to eventually go the college route, the military offers sizable scholarships and tuition assistance. Learn a Trade College isn't the only place to further your education. Trade and vocational schools offer a unique opportunity to learn a valuable trade — for a fraction of the price in significantly less time. At the end of your program, you'll earn a certificate of completion and you'll be ready to get a career in your chosen field. This can be a substitute for college, or it can also be a way to get a better paying job while attending college after trade school. There are dozens of fields of study in fields including: graphic design, bridal consulting, cosmetology, surgical technology, personal training, massage therapy, dental hygiene, video game design and much more.