This study assessed Latinos’ retirement security, including their financial resources and retirement needs, showing past trends and future prospects. Using data from the American Community Survey, decennial censuses, and Health and Retirement Study, tabulations compared poverty rates, income and wealth, health and disability, relationship status, and household composition for Latinos and non-Latinos ages 65 and older. The Urban Institute’s Dynamic Simulation of Income Model also projected income and wealth for future generations. The results show that older Latinos receive less income, hold less wealth, and are more likely to be impoverished than older non-Latino whites. Financial outcomes are significantly worse for older foreign-born Latinos than for those born in the United States. However, projections indicate that the gaps will narrow somewhat in coming decades. Various policy options, such as workforce development initiatives, efforts to promote education and retirement savings, and Social Security reforms that increase benefit progressivity could improve financial security for future Hispanic retirees.
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