According to a new survey, when it comes to retirement savings, Latinos are failing. And in many ways, it echoes what has been laid out in previous minority retirement studies.
Hispanic Americans, the nation's fastest-growing minority group, are least prepared for retirement, according to a new ING Study that compares how different ethnic groups are planning for their financial future.
“Latino seniors are particularly vulnerable to cuts and changes because Social Security benefits represent nearly all of their income," according to the National Council of La Raza.
Hispanics are the fastest-growing demographic group in the U.S. They're also among the least likely to invest and keep money in 401(k)s and other retirement-savings accounts, recent reports show.
Several posts this month have addressed household wealth (or the lack of it) among minorities. So what comes next? Retirement, which involves every generation. And it’s not a bright picture, for Latinos especially.