My colleague Leslie Berenstein Rojas wrote a great post today about Latinos and their impending retirement struggles. This part jumped out at me:
Latinos rely heavily on Social Security for retirement income. Many, especially first-generation immigrants, work in jobs that don’t provide retirement plans. And among those who do, there is a tendency not to invest in these plans, for fear of lacking day-to-day cash flow and other factors.
Several studies have addressed Latinos’ retirement quandary, but I’d like to resurrect a particularly exhaustive one from three years ago that took into account not just the prospective retirees, but their children who are one day expected to help support them.
She went on the delve into a 2008 report from the University of Notre Dame’s Institute for Latino Studies. But it’s the Social Security factor that’s important -- especially since Latinos are statistically more likely to live longer than several other ethnic groups.