Posts Tagged ‘retirement’

The Single Mistake Holding African American Workers Back From Retirement

Saturday, April 7th, 2012

(Business Insider) After the dust settles over the recession, it's becoming increasingly clear that African Americans will have the most lost ground to cover–especially in retirement planning. 

new report by Aon Hewitt and Ariel Investments shows just how much damage deteriorating finances and a weak job market has done to their nest eggs.

 
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How Ethnicity Affects Retirement Savings

Thursday, February 9th, 2012

(US News) Ethnicity is a growing area of interest for banks, largely because they want to understand their customers better.

[50 Ways to Improve Your Finances in 2012]

By 2050, says Fred Makonnen, vice president of multicultural sales at ING, African Americans, Hispanics, and Asian Americans will make up the majority of the U.S. population, compared with just over one-third now. “We need to have, as an industry, products that can speak directly to these consumers. We’re seeing time and time again there is a significant gap between various ethnic groups … and the reasons tend to be embedded in cultural differences,” he says.

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African American Workers: False Expectations About Retirement Saving

Thursday, December 1st, 2011

(The Black Man) I am an African American financial advisor. However, African Americans and people of color have been a very small part of my wealth management business—so small, in fact, that the phenomenon spurred me to discover if what I have experienced holds true across the country. I have come into contact with very educated and successful African American businesspeople, but the one consistent factor is that many of them lag behind in their saving and investing experiences.

What is more disturbing is that African American and Hispanic workers are just as likely as American workers to feel confident about their retirement security, even though their savings and preparations lag behind, according to findings of the Minority Retirement Confidence Survey (MRCS). While some differences in retirement preparation can be attributed to differences in income distribution, other findings show that minorities are less prepared  even when comparisons are made among workers with similar levels of household income.

 

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AARP Launches Spanish-Language Retirement Calculator

Monday, July 18th, 2011

(AARP PRnewswire) AARP today announced the launch of its Spanish-language Retirement Calculator as part of its continued efforts to serve older Hispanics with resources that help them live their best lives and plan ahead for a secure retirement.

"With the launch last year of our bilingual Web site, Hispanics and Latinos 50+ have grown to expect high-quality content and trusted information from AARP," said Rocky Egusquiza, AARP Vice President of Multicultural Markets. "This calculator continues to build on that promise and gives our growing Hispanic audience another tool to plan for their retirement security for themselves and for their families."

A narrative, step-by-step design makes the AARP Retirement Calculator easy to use. Upon completion, users will be guided to a suite of additional AARP tools and resources – available at www.aarp.org/espanol/dinero – to learn more about Social Security, financial planning and other aspects of retirement.

Research has shown that using a tool like a retirement calculator can help people focus on the steps many need to take to get their financial lives in order. The AARP Retirement Calculator provides information users can use to evaluate their current situation and see potential pathways to their desired retirement goals.

"For many, the first step to a secure financial future includes assessing when they can retire and what is needed to do so," said Andres Castillo, senior advisor for Education and Outreach at AARP. "Whether an individual is starting at square one or needs to re-evaluate their original plans, the AARP Retirement Calculator is a tool that can help them determine where they stand and what they need to do next."

To try out the new Spanish-language AARP Retirement Calculator, visit www.aarp.org/calculadorajubilacion.

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New Disparity in US Nursing Homes: Whites Leave, Minorities Enter

Friday, July 8th, 2011

(Science Daily) Nursing homes in the United States are shrinking and their residents are becoming proportionately more black, more Hispanic, more Asian, and less white, according to a new study by Brown University researchers. The nationwide trend, reflected in metropolitan areas from New York to Los Angeles, results from changing demographics and disparities in what people can afford. The study is published in the July edition of Health Affairs.

 

In the last decade, minorities have poured into nursing homes at a time when whites have left in even greater numbers, according to a new Brown University study that suggests a racial disparity in elder care options in the United States.

At first blush the analysis, published July 7 in the journal Health Affairs, suggests that elderly blacks, Hispanics, and Asians are gaining greater access to nursing home care. But the growing proportion of minorities in nursing homes is coming about partly because they do not have the same access to more desirable forms of care as wealthier whites do, said the study's lead author Zhanlian Feng, assistant professor of community health in the Warren Alpert Medical School of Brown University.

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