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Kehlani Diss The Game Following Drunken Reference About Her Lady Parts

R&B singer Kehlani is not too happy that The Game made some drunken references about her lady parts. Seems like the Compton rapper had one too many drink last night […]

The post Kehlani Diss The Game Following Drunken Reference About Her Lady Parts appeared first on Urban Islandz.

Urban Islandz

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Women Age 65 are Becoming Poorest Americans

Senior African American couple using laptop

(Getty Images)

Women age 65 and older are much more likely to face financial hardship in retirement than their male counterparts—and older, minority, and unmarried women are at greatest risk of being impoverished.

This is according to findings in a new report by the National Institute on Retirement Security that takes into account out-of-pocket medical expenses and other factors in addition to income.

[Related: [Study] Women Are Feeling Financially Empowered]

Women are 80% more likely than men to be poor at age 65 and older. For women age 65 and older, their typical income is 25% lower than men. As men and women age, men’s income advantage widens to 44% by age 80 and older. Senior women who never married have a high poverty rate at 29%; senior men who never married have a poverty rate of 21%. As women get older, they also become more likely to live in poverty, 17% of women between the ages of 70–79 and 22% of women 80 and over are in poverty. Meanwhile, men in these age groups have a poverty rate of 11% and 17%, respectively.

Many Americans rely on savings in 401(k)-type accounts to supplement Social Security in retirement. However, 401(k)s have failed most American workers, according to the  EPI’s new report on the state of American retirement. While the retirement gap between men and women is shrinking, the reality is that neither men nor women are able to save enough for retirement. Women also remain much more vulnerable in retirement because they live longer (and therefore must save more), are more likely to fare worse if they are divorced, widowed, or have never been married, and have lower career earnings.

According to the EPI, in the future, the poverty rates for both men and women is to rise due to cuts to Social Security—the gradual increase in the retirement age—and declining pension benefits. 401(k) accounts have largely replaced pensions in the private sector, but most people–particularly those in the bottom of the income distribution—have far too little in these accounts to make much of a difference in retirement.

It comes as no surprise that more women and men are working well into their retirement years. It’s also not surprising that thousands of retirees and near-retirees are becoming entrepreneurs as a means of survival. According to the Kauffman Foundation, the 55- to 64-year-old age group represents almost one-quarter of new entrepreneurs today, compared to 14.3% just 20 years ago. Starting a business after age 50 can be very risky but it can also be very rewarding for those who are able to channel the skills and leverage the networks they developed throughout their careers. In fact, the U.S. Small Business Administration provides 10 resources for those starting a new business after 50.

Black Enterprise

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Women’s History Month: The Shark Tank vs. The Dolphin Tank Approach To Raising Capital

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The month of March is Women’s History Month, and, while many women of color have made significant strides in launching their own businesses, some of them still face challenges with raising capital. In fact, studies show that only 15% of all women-run companies succeeded in raising capital.

[Related: Black Female-Owned Job Matching App Raises $ 100,000 in Startup Financing]

However, there are a number of progressive women who are demonstrating that there is more than one way to shatter this statistic, and numerous approaches to growing a business and raising capital. One way is by using the popular “Shark Tank” approach and the other way is by using the “Dolphin Tank” approach.

Jean Brownhill Lauer, founder and CEO at Sweeten, who has raised $ 4.3 million in funding, had these tips to share with women seeking to raise money and win over investors using the “Shark Tank” approach.

Show That Your Target Market is Huge. Make sure your pitch establishes a huge market size and clearly articulates your idea for owning it. Your target market needs to be so big that rounding errors are in the hundreds of millions. In addition, your product or service needs to be so clearly necessary that it’s obvious to everyone.

Start With the Big Picture. Start the conversation with investors at the broadest view of your idea and then slowly bring the idea into focus to demonstrate where you are right now. They need to believe in the overall idea and the steps you plan to take to get there, and then they need a realistic look at where you are right now.

Find the Balance Between Fear and Overconfidence. Both fear and overconfidence repel investors. Do all the prep work on your plan and yourself to truly have the confidence you need to face people, show them the size of the opportunity and the traction of your work, and ask them to trust you with millions of their dollars.

Vanessa Wakeman, founder and CEO of The Wakeman Agency, who started her venture with self-funding and grew her business to be a leading social impact marketing and PR company, had these tips to share using a “Dolphin Tank.” 

Invest in Yourself. Don’t be afraid to take the risk of investing in yourself by pulling from your savings. Be sure to set parameters on how much money you can “borrow” from this source, so that you don’t completely liquidate all of your funds. As your business starts to take off, remember to “pay yourself back” by putting a portion of your proceeds back into your savings to replenish these funds.

Consider A Microloan. Microloans (typically $ 50,000 and under) could be a great option for funding a business. As compared to traditional loans, these loans tend to be easier to get and can assist you with covering some of your initial startup costs. Recommended resource: ACCION USA, a nonprofit organization that offers small business loans up to $ 25,000.

Black Enterprise