- Author: CNN Money by Tanzina Vega
When it comes to saving for retirement, Hispanics have a lot of catching up to do.
According to data from the Economic Policy Institute, only 26% of Hispanic families had savings in a retirement plan like a 401(k) or IRA, in 2013. Meanwhile, 65% of white families and 41% of black families and 58% of Asian families and those of other races had savings in such accounts.
Part of the reason for this gap is that many Hispanics, particularly those that work in low wage jobs, don't have access to retirement plans, said Monique Morrissey, an economist at the EPI who analyzed data from the Federal Reserve for...
- Author: National Council of La Raza
National Council of La Raza (NCLR ) released a report entitled “Latino Financial Access and Inclusion in California.” The report’s findings were based on an NCLR survey of over 1,000 California Latinos, focusing on levels of financial engagement.
Latinos continue to be among the most unbanked ethnic minorities in the United States. The report highlights the challenges confronted by the unemployed, differences in financial engagement by citizenship status and the use of bank technology by participants.
The report found an important link between naturalization...