The average U.S. savings rate in 2019 is 7.6%, compared to an average of 8.8% from 1959-2018.
Because of that, there are few ways beyond a 401(k) plan or other retirement account that prepare you financially for retirement.
Yet, retirement savings for those in the Latino community are low. According to a 2018 UnidosUS report, only 31% of Latino workers participate in an employer-sponsored retirement plan, compared to 48% of all other workers ages 21 to 64. READ MORE AT CNBC