Hispanics retire with 70 percent less than whites

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Hispanics living in the U.S., particularly those who hail from other countries, are approaching retirement with less than a third of the savings of their white counterparts.

A new study from the Urban Institute, an economic policy think tank in Washington, found that the rapidly growing ethnic group is facing an uphill battle to accumulating sufficient funds for their later years.

Hispanics numbered 55.3 million in the U.S. in 2014 — 17 percent of the total U.S. population, according to Pew Research Center.

The Urban Institute's study, which used Census data, found a wide gap between Hispanics and whites when it comes to wealth at ages 65 and over. READ MORE AT CNBC

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