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Yoloxochitl “Yolo” Lopez DeMarco is one of the many Hispanics in the Region who is taking her financial future into her own hands. Her company is among the 5 million Latino/Hispanic-owned businesses nationwide generating more than $800 billion in annual revenue, according to a report by the U.S. Department of the Treasury. READ MORE AT NORTHWEST INDIANA BUSINESS MAGAZINE

Latino/a entrepreneurs continue to be a force for economic development in the United States: They own 4.7 million businesses that generate more than $800 billion annually. But they are not monolithic. A new report highlights the role played by women, immigrants, and new technologies in the growth of Latino/a-owned businesses. READ MORE AT THE STANFORD REPORT

While the gender pay gap persists for all women relative to their white male counterparts, it has long been widest for Latinas, who are paid 46% less than white men and 26% less than white women. One explanation offered for this gap has been that Latinas are more likely to hold low-wage jobs—but research indicates that those pay disparities remain in place among women who are more educated or work in more lucrative industries. READ MORE AT FAST COMPANY

The fastest growing Hispanic food company in the country, based in Central Texas, is helping empower and support Latino communities across the U.S. This year, Siete Family Foods is awarding a total of $300,000 to Latino-owned food and beverage establishments across the country, marking its biggest distribution to date. READ MORE AT MYSANANTONIO

Latinas are one of the most powerful women in the United States but it’s still an uphill battle when it comes to financial equality. Latina entrepreneurs create businesses 50x more than the national average and Latinas college rates have skyrocketed over the last 20 years. READ MORE AT HIP LATINA

The wealth gap between white families and their Black and Latino counterparts has widened by more than $1 million, according to a new analysis by the Urban Institute, a nonpartisan think tank that focuses on economic and social policy research. White families have a median wealth of $284,310, more than four times that of Latinos ($62,120). Additionally, the analysis found that the wealth gap widens with age — on average, white families accumulate more wealth over their lives than Latino families in the same age group. READ MORE AT THE LOS ANGELES TIMES

A new report examining Latino wealth in six U.S. states shows that New York — where Puerto Ricans and Dominicans make up the largest Latino ethnic groups — has the highest wealth disparities between Latino and white households. 

The Brookings Metro report shows that white households in New York hold 40 times the wealth of Latino households. That’s a stark contrast to Illinois — home to the smallest Latino-white wealth gap — where white households hold 1.9 times the wealth of Latino households. READ MORE AT LOS ANGELES

The first Hispanic American-owned banks in the mainland U.S. were established in the 1960s, one of the first being Centinel Bank of Taos. Hispanic American financial institutions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory lending practices like redlining and experienced limited economic opportunities to build wealth. READ MORE AT BUSINESS INSIDER

Latino-owned businesses are a dynamic and growing portion of the U.S.; with more than 5 million firms driving $800 billion in revenue, they represent a huge opportunity for the U.S. In fact, the number of Latino-owned businesses is growing 10x faster than white-owned businesses. READ MORE AT LATINO BUSINESS ACTION NETWORK

Half of Hispanic adults (50%) reported being very worried about having enough money for retirement, six percentage points higher than the response from the general population, according to LIMRA’s 2023 Insurance Barometer Study, but the owner of a Hispanic-run financial wellness platform says focused engagement with the Latino audience can help.

Approaching 70 million people, or nearly 20% of the U.S. population, Latinos present a significant opportunity for every sector, according to Finhabits’ 2023 “Power in Numbers” report. Yet efforts to capitalize on the wealth potential of this segment, which by the firm’s estimates will grow to $113 trillion by 2050, have so far fallen short. READ MORE AT PLAN ADVISER

The recently released 2023 Hispanic Wealth Report showed that more Latinos are making money, owning homes, and building generational wealth for their families. According to the report, 49.5% of the Hispanic population in the United States are now homeowners. That's on track to have 70% of all Latinos be homeowners by 2040. READ MORE AT WFTS TAMPA BAY

For Hispanic-Latinos, the drive to become financially successful isn’t just about accumulating wealth — rather, it’s driven by a strong feeling of responsibility to support our families and the Hispanic-Latino community. In A Merrill survey. 

Affluent Hispanic-Latinos in the Merrill survey were also four times more likely than the affluent general population to say that planning to assist aging parents financially is their most important financial goal. READ MORE AT ML.COM

Hispanic Americans currently make up nearly one-fifth of the American population, according to 2022 Census data, and they are the largest racial or ethnic minority group in the country. They have also become a powerful force in the economy, having contributed an estimated $3.2 trillion of economic output in 2021, according to a report last month by the Latino Donor Collaborative — which would give them the fifth-largest GDP in the world if they were grouped as an individual nation. READ MORE AT FINANCIAL PLANNING

In October 2023, the U.S. Department of the Treasury reported that roughly 5 million Latinx-owned businesses operated nationwide. These companies generate over $800 billion in annual revenue with an economic output of $2.8 trillion. 

That report also revealed that this share is growing. In 2021, almost 25 percent of the entrepreneurs behind new business applications were Latinx. And between 2019 and 2023, the share of self-employed Latinx workers across the country grew by 26 percent. READ MORE AT BANKRATE

few years back, my siblings and I began what would turn out to be a long, somewhat arduous conversation: What’s going to happen with Mom? Our mom was getting older, and we needed to start thinking about what her golden years would look like, considering the possibilities that could come with caring for an elderly parent. The entire exercise, thus far, has led to arguments and a sense of straying further from the light. READ MORE AT THE LOS ANGELES TIMES

Hispanic American financial institutions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory lending practices like redlining and experienced limited economic opportunities to build wealth.

Hispanic American banks were founded in areas where minority communities lived. These financial institutions were able to connect with their local communities and fill the banking gap by addressing areas like language and culture. READ MORE AT PERSONAL FINANCE

Hispanics will be spending more on holiday shopping this year and are more likely to buy gifts online than in the past, according to a national survey by the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI). READ MORE AT FLORIDA ATLANTIC UNIVERSITY

The Hispanic population in the United States has been one of the fastest-growing demographics over the past two decades. Still, there are a number of financial disparities between Hispanic and Latino Americans and their white peers, especially Latina women. Hispanic women earn a median annual salary of $39,511, compared with a median of $55,330 among white women and $61,740 for white men, according to Labor Department data.

Hispanic households of any race have a median net worth of around $31,700, compared with $187,300 among white, non-Hispanic households, the most recent Census Bureau data reveals. READ MORE AT CNBC

Only 34% of Hispanics believe they are saving enough or have saved enough for retirement, six points lower than the national average, according to a report by an insurance industry research company.

According to LIMRA, 50% of Hispanics say they worry about having enough money for retirement and The Latin Times, in conversations with several Hispanic workers and financial advisors, found out that there is a growing concern among members of this community regarding resources for a life after giving up work. READ MORE AT THE LATIN TIMES

The wealth gap between U.S. Latinos and white Americans can vary greatly depending on which state they live in, according to new research. White people in Illinois on average have nearly twice as much wealth as Latinos in the state, according to the report. In California, the gap is nine-fold. READ MORE AT AXIOS