AARP Segunda Juventud Hispanic Retirement Study: Financial Matters

By: Tracy Needham, M.A., AARP Knowledge Management; | March 30, 2007

The views of Hispanics ages 40-74 on various retirement issues, including the sources of income they feel fairly certain they can rely on in their retirement years, and the reliability of Social Security for their children and grandchildren, are explored in this 2007 AARP omnibus survey.

Findings include:

• The top sources of income that respondents say they feel fairly sure they can rely on during their retirement years are Social Security (64%); IRA, 401(k) or other retirement savings accounts (43%); pension from place of employment (38%); and income from savings and investments other than retirement savings accounts (37%).
• Most respondents (79%) agree either completely (65%) or somewhat (14%) that their children or grandchildren would benefit from a money management skills class.
• About half of respondents (52%) agree that people in their generation save more for retirement than people in their parents' generation.
• Half of respondents (50%) agree they need more information to help them plan for their retirement.

This telephone survey of a representative sample of 424 Hispanic respondents ages 40-74 was conducted for AARP by ICR, an independent research company, during February 13 - March 1, 2007. For more information, contact Tracy Needham at 202-434-6322. (10 pages)