On June 2, more than nearly 70 friends from Wilmington’s Latin American Community Center benefitted from some free financial advice sure to help them save better and protect their assets.
AARP sponsored the event as part of its national Financial Freedom Tour.
Financial expert Pablo M. Bianchi. Bianchi captivated the group with some tips for monthly savings you may not have considered, like saving $40 a month by making coffee at home rather than buying it at your local coffee shop. The message was clear: save now to succeed later.
Bianchi encouraged the crowd to start saving early, and to keep track of what you have.
According to a 2007 Employee Benefit Research Institute (EBRI) study, African American retirement savings rates are failing The majority of African Americans have less than $10,000 in savings and investments. A similar 2007 EBRI study found that only 41 percent of Hispanic Americans say they have saved money for retirement, and this population’s saving rate is slowing.
The tour was extremely well received and benefited the Latino community in Wilmington.