Latin America Business News
POLL: Hispanics Tend to Hold Few Investments or Retirement Accounts
Photo: Hispanic Investments
According to a recently released poll, from the Washington Post-Kaiser Family Foundation-Harvard University initiative, only one out of every six Hispanics holds any type of investments.
African American fared slightly before with one out of every black individual holding either stocks, bonds or mutual funds. These minority groups also had low percentages owning individual retirement accounts (IRAs): 32% of all Hispanics hold one while approximately 67% of non-Hispanic whites owned IRA’s.
Hispanics who do hold investments tend to be very conservative in their choices limiting the upside investments can offer. The overall effect is that the wealth gap separating races is getting larger.
Blacks have only 15 cents of wealth for every dollar of wealth held by whites, while Hispanics have 27 cents for every dollar of white wealth, according to Federal Reserve statistics.