Thursday, March 27, 2014

Latinos Live Longer But Struggle To Save Enough For Retirement : Code Switch : NPR

Latinos Live Longer But Struggle To Save Enough For Retirement : Code Switch : NPR: Many American workers find themselves financially unprepared for retirement. Among racial and ethnic groups, Latinos are the least prepared.

They're one of the fastest-growing racial or ethnic groups, and they have a longer life expectancy than whites and blacks — .

But four out of five Hispanic households have less than $10,000 in retirement savings, according to a .

Compare that to three out of four black households and one out of two for whites. (The report does not break down the data for Native Americans or Asian Americans.)

"This is a national crisis," says Nari Rhee, manager of research at the National Institute on Retirement Security. "I think that there are serious racial dimensions to this."