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Multicultural Study 2004 - Perspectives Past, Present and Future: Traditional and Alternative Financial Practices of the 45+ Community

Maintaining financial stability in retirement has always been important. Now, more than ever, it requires diligence from Americans age 45+ who have seen threats to historically sound financial systems. This AARP multicultural survey was designed to address a broad range of financial behaviors within the 45+ community, and is unique because it includes oversamples of African Americans, Hispanics, Asians, and for the first time, American Indians. Various multicultural organizations were consulted during its development to make sure that the questions and perspectives were relevant and culturally sensitive.

Because the survey covers financial behaviors in multicultural communities that may have been omitted from prior surveys, it also asked about nontraditional financial activities. For example, people without bank accounts (the ‘unbanked’), compared to those with bank accounts, were more often found to use alternative/non-traditional means for banking such as check cashing outlets and payday lenders.

While all consumers age 45+ are worried about how they will cover basic financial living expenses, younger people (ages 45-64) generally seem to be more concerned about this than those 65+ and up. Mature Americans are concerned about all of the issues in the survey including how they will obtain money to pay their mortgage or rent, and how they will provide money to care for grandchildren.

The telephone survey was conducted between September 2nd and October 10th, 2004 by NOP World among a national sample of 2,609 age 45+ individuals. Further information about the survey may be obtained by contacting Dr. Grocer Ledbetter at 202-434-6294.

To order printed copies

Please, include your full postal mailing address as well as the title and stock number

  • Full Report (Stock #D18329)
  • Executive Summary (Stock #D18330)

Send your request by mail to
AARP Fulfillment
601 E St., NW
Washington, DC 20049
or by e-mail to

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