Latinos Face a Higher Chance of Not Being Prepared for Retirement
Working-age households are more unprepared for retirement than ever before -- 50 percent compared with 44 percent in 2007, but Latinos face the greatest risk, finds a Center for Retirement Research at Boston College study.
According to a brief, Whites have the lowest percentage risk with 48 percent unable to maintain their standard of living in retirement, while Blacks have a 54 percent risk and Latinos have a 61 percent risk.
The study says the main reason Latino households fell behind is they were hit the hardest by the housing bubble burst. 40 percent of all Latino households in the country resided in the hardest-hit states, while only 20 percent of white and black households lived in those states.