Volunteering is in fashion around the holidays but many abandon it at year's end. And while it completely upended my professional life, I will owe my future career as a doctor to being a volunteer. Not everyone will change their profession as I did, but the power of volunteering is very real.

Still, oftentimes, the greatest barrier to being a volunteer is incorporating an activity into daily routines. A few of my favorite tips follow:

• Make volunteering a family activity and incorporate it as a monthly outing like a movie night.
• Swap a weekly workout with a volunteer activity.
• Take on small projects that can be done at your own pace from home, like assembling care packages for women's shelters or homeless shelters.
• Pair things you love to do with ways to help others: if you love technology, teach iPhone 101 at a senior center READ MORE AT SUN CITY WEST INDEPENDENT

SPRINGFIELD – Workers in Illinois who participate in the Secure Choice retirement savings program have set aside more than $90 million of their own money for their retirement, Illinois State Treasurer Michael Frerichs said today.

The accomplishment signals a growing recognition that workers understand Social Security will not provide enough income after their working days are over and reflects data that shows workers are more likely to save for retirement if they can do so through workplace payroll deductions.

“While each person has their own American dream, each dream includes a retirement with dignity and confidence,” Frerichs said. “Secure Choice can help accomplish both.”

The Illinois General Assembly created Secure Choice in 2015 and declared employers must either offer a retirement savings program or participate in Secure Choice. In doing so, lawmakers assured employers they would not be responsible for investment decisions and barred them from contributing to a worker’s account. Lawmakers also assured workers that their accounts would travel with them if they changed employers.

Lawmakers also created a seven-member board to oversee the program; determined that investments would be managed by the private sector; and assigned implementation of the savings program to the Illinois State Treasurer’s Office. Based on recommendations from the board, and with consultations with lawmakers, the program launched in 2018.

Today, 109,000 workers, many of whom never thought they could save for retirement, have worked with 7,400 employers to set aside $91 million.

Enrollment was apportioned by employer size so as not to overwhelm employers. Wave one in 2018 included employers with 500 or more employees. Wave two in 2019 included employers with 100-499 employees and another wave that same year included employers with 25-99 employees. The deadline for wave four, employers with 16 or more employees, was Nov. 1, 2022. The deadline for wave five, employers with five or more employees, is Nov. 1, 2023. Eligible employers can register or report an exemption at www.ilsecurechoice.com any time before their applicable deadline.

Secure Choice is critical because 40 percent of Illinois’ private-sector workers do not have access to an employer-sponsored retirement plan and 23 percent of retirees rely upon Social Security for 90 percent of their retirement income. The employer component is key because workers are 15 times more likely to save for retirement if they can do so through payroll deductions, according to an AARP study.

The default option for program participants is to enroll in a target-date Roth IRA with a five percent contribution rate. Participants can choose to change their contribution level or fund option at any time. Accounts are owned by individual participants and are portable from job-to-job. Investments are held in a separate trust outside the Illinois Treasury.

“This is a program that’s easy to implement and anything I can do to help my employees both professionally and personally is a win-win.” said Keely Selko, Office Manager at the Dearborn in Chicago, an early Secure Choice participating employer.

About the Illinois Treasurer

As Illinois State Treasurer, Michael Frerichs (FRAIR'-iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $52 billion. The portfolio includes $26 billion in state funds, $17 billion in retirement and college savings plans and $9 billion on behalf of local and state governments. Frerichs’ office protects consumers by safeguarding more than $3.5 billion in unclaimed property, encouraging savings plans for college or trade school, increasing financial education among all ages, assisting people with disabilities to save without losing government benefits, and removing barriers to a secure retirement. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.

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Inflation and rising interest rates will affect the South Florida real estate market in 2023, but it will still remain strong thanks in part to foreign buyers, mainly from Latin America, who were number one in 2022, according to specialists consulted by EFE. READ MORE AT EL AMERICAN

Jobs in STEM and media employ the least amount of Hispanic and Latinx workers, according to Credito en USA, a Spanish language personal finance insights platform. The company analyzed the 2021 data from the Bureau of Labor Statistics in order to identify the most underrepresented job titles for Hispanic and Latinx talent.

Biological scientists have the least amount of representation, as Hispanic and Latinx workers make up only 2.4% of the industry's workforce. Medical scientists, veterinarians and industrial engineers are also underrepresented fields, with Hispanic and Latinx workers making up just under 5% of the industries' overall workforce. READ MORE AT EBN

The market for luxury brands is rapidly changing with a boom in the Hispanic consumer market, the fastest-growing demographic of households with incomes of $150k+, according to two new studies.

The rapidly rising affluence of Hispanics, their greater representation compared to other ethnicities in the top two quintiles, and the fact they are the fastest growing ethnicity bar none means they are an increasingly important demographic for brands to understand. READ MORE AT FORBES

A new study finds Latina workers earn just over half what their white, male counterparts do. The study from the National Women's Law Center found that in 2021, Latinas working full time earned just 57 cents for every dollar paid to white, non-Hispanic men.

The study provides a breakdown by community of national origin. It finds that Spanish and Argentinian women earned the most on average at 82 cents for every dollar earned by white, non-Hispanic men. Honduran women earned the least at just 44 cents on the dollar. READ MORE AT HOUSTON PUBLIC MEDIA

Latinos and Spanish speakers are getting better access to key mental health services thanks to several recent initiatives. A higher percentage of Latinos in the U.S. have reported symptoms of depression than their white non-Hispanic counterparts since the pandemic began, per the CDC.

Hispanics in the U.S. make up 19% of the population, but only 6% of licensed psychologists in the U.S. identify as Latino, according to the American Psychological Association. READ MORE AT AXIOS

Hispanic enrollment at postsecondary institutions in the United States has seen an exponential increase over the last few decades, rising from 1.5 million in 2000 to a new high of 3.8 million in 2019 – partly reflecting the group’s rapid growth as a share of the overall U.S. population. 

The decline for Hispanics, and other racial and ethnic groups, in 2020 was driven by a drop in enrollment at two-year institutions. Hispanic enrollment at two-year colleges declined by about 230,000, or 15%, from 2019 to 2020. READ MORE AT PEW RESEARCH CENTER

An examination of Latinos' lives over a 20-year span found increasing diversity and major educational and economic gains, though some inequalities remain, according to a new report by the UCLA Latino Policy and Politics Institute. The big picture: The report, which compared U.S. Census data from 2000 and 2o20, paints a picture of just how much Latinos have changed the American landscape — and how it's changed them, too.

By the numbers: Mexican Americans and Mexican immigrants still account for the largest share of U.S. Latinos (59%), but the share of people from South and Central America is quickly growing, owing largely to political and economic instability in those nations. READ MORE AT AXIOS

Latinos account for the fastest-growing portion of US GDP. So much so, that if we considered US Latinos as their own country, it would be third only to the GDP growth rate of China and India in the past decade.1 At a time of economic uncertainty with concerns about a possible recession growing, consumers are looking for additional support.

Latinos are conscious of their impact, choosing brands that value the environment and their employees, all of which makes them more influential than their income levels would suggest. READ MORE AT MCKINSEY.COM

Despite making up nearly 19 percent of the population, Latinos continue to be underrepresented or misrepresented in Hollywood, news and book publishing, according to a new report released by the Government Accountability Office.  "Latinos are effectively excluded or sidelined from much of American media," says Rep. Joaquin Castro (D-Texas) chair of the Congressional Hispanic Caucus, which requested the report. READ MORE AT NPR

Even though Latinos are the second largest ethnic group in the U.S., they’re underrepresented across many industries, including finance, which can have long-term effects on the ability to grow wealth. A group of Latino-led and focused venture capital firms is looking to change that.

Lack of access to capital markets makes it harder for Latinos to build meaningful wealth. It also means they’re underrepresented as shareholders of companies if they aren’t holding stocks and that they’re not lending a proportional voice to investing decisions. READ MORE AT CNBC

Even before Claire Risoli decided to open up her own restaurant, she knew she would call it Pocha. “Pocha was something that I was called growing up that I hated,” she said. “It means Americanized Mexican girl, and for me, it always made me feel like I wasn’t enough.”

Latinos like Risoli account for 52% of all new employer businesses, according to the 2022 Latino Donor Collaborative U.S. Latino GDP report. The study also measured U.S. Latinos’ contributions to the economy known as the gross domestic product and found that it was worth $2.8 trillion in 2020. READ MORE AT SPECTRUM NEWS 1

The total economic output of Latinos across the U.S. was nearly $2.8 trillion in 2020, or more than 13% of the country’s GDP. Latino GDP was highest in the finance and real estate sector, which represented $460 billion of the total.As a group, however, the most significant data point in the report is what Latinos spend annually. In 2020, personal consumption accounted for nearly $14.1 trillion of the nation’s GDP and U.S. Latinos represented $1.84 trillion of that total.

Latino spending is greater than the economies of Canada or South Korea. Or in national terms, Latinos’ consumption rivals the entire economies of New York or Texas. READ MORE AT KEARNEY HUB

For decades, Latinos living in the United States have sought ways to identify themselves that encompassed their pan-ethnic community. Although culturally diverse, Hispanics rallied in the 1960s for a unifying term that would grant them census representation and governmental support in education and health care, said Catherine S. Ramírez, chair of the Latin American and Latino Studies program at the University of California at Santa Cruz. However, that effort has also led to discrimination, as Hispanics and Latinos were othered and lumped together with negative stereotypes. READ MORE AT THE WASHINGTON POST

Comcast RISE to Award $1 Million in Grants to Small Businesses Owned by Women and People of Color in Cook County

Eligible businesses can apply October 3-16 for a $10,000 grant; 100 recipients will be selected

CHICAGO (September 14, 2022) – Comcast today announced it will award $10,000 grants to 100 small businesses owned by women and people of color in Cook County through its Comcast RISE Investment Fund. Cook County is one of five locations selected for this new round of the grants program. Other locations include Miami, Oakland, Seattle and Washington D.C. Comcast will award a total of $1 million in grants in Cook County alone – $5 million across the five locations – in this round. This brings the total amount of Comcast RISE Investment Fund grants awarded to $21 million nationwide to date. This is the second time Comcast has opened the fund to Cook County businesses.

“The pandemic has affected businesses owned by women and people of color in Cook County and elsewhere exceptionally hard,” said Cook County Board President Toni Preckwinkle. “I encourage eligible businesses to apply for a grant. This money can help strengthen their position, especially as we emerge from the pandemic. “

“Women-owned businesses face a variety of challenges, including accessing funding,” said Women’s Business Development Center President and Chief Executive Officer, Emilia DiMenco. “These dollars will allow them to invest in their businesses and strengthen their financial position moving forward.”

“Hispanic-owned businesses face enormous barriers to success,” said Illinois Hispanic Chamber of Commerce President and Chief Executive Officer, Jaime di Paulo. “These dollars will allow them to invest in their people, their equipment and their technology, and help prepare them for the future.”

To help drive awareness of the program and provide additional support, training and mentorship, Comcast is awarding a total of $50,000 in grants to four Cook County community-based organizations, including the Illinois Hispanic Chamber of Commerce, South East Chicago Commission, South Shore Chamber of Commerce and Women’s Business Development Center.

Comcast RISE also provides marketing and technology services

In addition to the Investment Fund, Comcast RISE, which stands for “Representation, Investment, Strength and Empowerment,” provides the opportunity for small businesses owned by women and people of color in Comcast’s nationwide footprint to apply to receive one or more of the following services:

Marketing services: Comcast’s advertising sales division, Effectv, and its creative agency, Mnemonic, help recipients with marketing and media campaigns, including:
Media: Linear TV media campaigns that run over a 90-day period.
Creative production: Turnkey 30-second TV commercial production, plus a media strategy consultation and a 90-day linear TV media campaign.
Consultations: Digital audits by Ureeka, a go-to platform for small businesses looking to use their website and online marketing to acquire customers, in the form of Website Repair Reports and Search Engine Optimization Keyword reports to target website mechanics and effective organic marketing; and
Technology Makeovers: Technology upgrades from Comcast Business include computer equipment, as well as internet, voice and cybersecurity services for up to 12 months (taxes and other fees may apply).
Comcast RISE was formed in late 2020 to give small businesses owned by people of color the support and resources they need to not just survive but thrive. In November 2021, Comcast RISE announced a major expansion to all women-owned businesses. To date, more than 9,500 Comcast RISE awardees have been announced from 704 cities across 37 states and the program is on track to provide support to 13,000 small businesses by the end of 2022. Comcast RISE is part of Project UP, the company’s comprehensive 10-year, $1 billion initiative to advance digital equity and help build a future of unlimited possibilities.

For more information and to apply, visit www.ComcastRISE.com. The Comcast RISE Investment Fund grant application is open from Oct 3-16 to Cook County businesses owned by women and people of color that have been in business three or more years with 1-25 employees. Check the site for more information about eligibility. Site visitors can also apply for the opportunity to receive marketing and technology services through Comcast RISE.

The Suazo Business Center has jump-started about 5,000 Utah small businesses over the past two decades, about 93% of which are minority-owned. Two women have driven that success: the center's founder, Gladys Gonzalez, and its current president and CEO, Silvia Castro.

The women, both immigrants from South America, know firsthand the challenges first-generation immigrants face when it comes to "making it" in the U.S. They've used those experiences to provide culturally relevant, multilingual business advice and mentoring to entrepreneurs across the state. READ MORE AT KSL.COM

Only about 25% of Latinos say they feel fully included at their workplaces, according to a new report from Bain & Company, a management consulting firm. Why does it matter? Latinos accounted for around 80% of workforce growth from 2010 to 2017, the fastest growing demographic. Seventy percent of Latino workers say inclusion is a critical factor when evaluating prospective employers, the study found. READ MORE AT AXIOS

Seven out of 10 Americans attribute the country’s economic growth to Latino population growth, reflecting that U.S. Hispanics have the highest workforce contribution rate (65.6 percent) and have started the most small businesses out of any other population group over the last decade.

There are significant areas where misconceptions about the Latino workforce can be corrected:

• More than 75 percent of Americans believe Latino immigrants have a lot to offer this country and are an economic boost (Asian, 87 percent; Black, 85 percent; White, 76 percent).
• Many non-Latinos also believe undocumented immigrants are taking jobs Americans depend on (Asian, 55 percent; White, 53 percent; Black, 49 percent), though undocumented immigrants make up only 13 percent of all Latinos in the United States.
• The view that Latinos are farmworkers is prevalent, even among Latinos, who believe half of Latinos fit that description. A commonly held misperception is that “farmworker” describes more Latinos than “entrepreneurial or business-minded,” despite U.S. Latinos creating the most small businesses in the country over the last 10 years. READ MORE AT LOS ANGELES BUSINESS JOURNAL

Latino-owned companies are growing at record rates and have a plethora of support to tap into. However, securing funding remains a challenge. There are an estimated 4.65 million Hispanic-owned businesses in the US, making them the fastest-growing segment of small businesses in the nation. According to the Stanford Latino Entrepreneurship Initiative (SLEI), a research and education collaboration between Stanford University and the Latino Business Action Network, over the last 10 years, the number of Latino-owned businesses in the US has grown 44% compared to just 4% for all others. READ MORE AT THE NEW JERSEY BUSINESS MAGAZINE