- 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: Elizabeth Llorente, Fox News Latino
Nearly 70 percent of Latino working-age households have no assets in a retirement account, and 62 percent of Latinos between the ages of 25 and 64 do not have employer-sponsored retirement plans. That is higher than the percentage of people in other major ethnic/racial groups. The percentage for whites was 37 percent.
About 38 percent of Latino employees ages 25-74 had a retirement plan through...