Hispanics retire with 70 percent less than whites

*Missing in the framing of this story is how Latinos care for their elderly at home and how the economic burden of this kind of elder care isn’t reported. VL

By Darla Mercado, CNBC  (3 minute read)

Hispanics living in the U.S., particularly those who hail from other countries, are approaching retirement with less than a third of the savings of their white counterparts.

A new study from the Urban Institute, an economic policy think tank in Washington, found that the rapidly growing ethnic group is facing an uphill battle to accumulating sufficient funds for their later years.

Hispanics numbered 55.3 million in the U.S. in 2014 — 17 percent of the total U.S. population, according to Pew Research Center.

The Urban Institute’s study, which used Census data, found a wide gap between Hispanics and whites when it comes to wealth at ages 65 and over.

Read more NewsTaco stories on Facebook. >>  

In 2012, whites in that age group had median inflation-adjusted household wealth of $280,200, compared with $84,600 for U.S.-born Latinos and $30,900 for foreign-born Hispanics, according to the report. African-Americans fared better than Latinos from outside of the U.S., with a household wealth of $51,600.


[Photo by Jonas Boni/Flickr]

Subscribe today!

  • This field is for validation purposes and should be left unchanged.

Must Read

U.S. citizen detained overnight by ICE – they thought he was undocumented

Victor Landa July 6, 2017

By Victor Landa, NewsTaco (1.5 minute read)  This is startling news. Up until last night at a dinner conversation I believed that the idea that an American citizen would be […]

Willie Velásquez documentary is a lesson for Latinos on the importance of voting

NewsTaco May 9, 2017

*Why you should read this: Because today is Willie Velasquez day and a quick search of his name turned up no news stories. This piece, by Mercedes Olivera, is from […]

DIECIOCHO Podcast: Texas Rep. Rafael Anchia – Trump, Gerrymandering and Money

NewsTaco June 8, 2017

By Victor Landa, NewsTaco (1 minute read, 34 minute listen)  It’s safe to say that the just-ended Texas legislative session was the most acrimonious in memory. We can talk for […]

Ted Cruz gets an earful in McAllen for July 4

Victor Landa July 5, 2017

*I’m posting this because it was mostly Latinos, organizing, protesting, making their voices heard. Everyone needs to know that Latinos in deep South Texas are standing up. VL By Patrick […]

Pence will host White House Cinco de Mayo party

NewsTaco May 4, 2017

*Why you should read this: Because there’ll be no Cinco de Mayo celebration at the White House (I know, big deal – we’ll be spared the taco-bowl). VL By Hadas […]

Vietnam War veteran fears he could be deported

Victor Landa July 7, 2017

*This Vietnam veteran, born in Mexico, was awarded two Purple Hearts and given U.S. citizenship after his service. He’s misplaced his documents and after paying $345 the government wants more […]

Castro will not run for U.S. Senate

NewsTaco May 1, 2017

By Victor Laneda, NewsTaco (i.5 minute read)    Rep. Joaquin Castro (D-TX) says he will not be running for the U.S. Senate against Ted Cruz. Castro had promised to make […]

Henry Cisneros: Why Can’t Americans See Latinos Are Country’s ‘Saving Grace’?

Victor Landa July 7, 2017

*Good question. I think it’s because we’re not the ones telling our story. We need to fight for our narrative. VL By Suzanne Gamboa, NBC News (1.5 minute read)  SAN […]