A lack of retirement accounts, rising interest rates and a low housing supply pose risks to the building of long-term Latino wealth in the U.S., a new report warns.
gains over the past few decades, they lag behind their non-Hispanic white counterparts in critical indicators of financial wellbeing., a nonprofit that aims to empower Latinos financially, set a goal in 2014 to triple Latino household wealth by 2024, but new economic realities could prevent it from reaching its objectives, according to a report the group released last week.
The latest report is largely based on online surveys of members of the National Association of Hispanic Real Estate ProfessionalsAs of now, only 25.5% of Latinos invest in retirement accounts, and their lack of diverse assets has worsened in recent years, the report found. A "lack of investment knowledge" is the top reason why, according to the report.
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