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
retirement (3)
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
A new survey by ING Retirement Research Institute, by Forbes, revealed that Latinos aren't saving for their golden years.
Fifty-four percent of Latinos said that they felt "not very" or "not at all" financially prepared for retirement, a percentage that was higher than that of all other ethnic groups surveyed including African-Americans, whites and Asians.
The question now is why Latinos are not saving more money toward their retirement. While the ING survey reported that about a third of Latinos blamed insufficient income and a quarter pointed to debt as reasons why they haven't been able put more money aside, I think that the Forbes report on the survey was correct to mention that culture also plays a part. READ MORE
