The Retirement Confidence Survey (RCS) was conducted for its 31^st year in 2021 to measure attitudes of American workers and retirees about issues surrounding retirement. The 2021 RCS included an oversample of Black and Hispanic Americans to allow for a closer analysis of the challenges that they face in saving and preparing for retirement. New questions were added this year to explore the impact of the COVID-19 pandemic, evaluate priorities in regard to preparing for retirement, and understand experiences with the financial system that may affect Black and Hispanic Americans’ retirement preparations.

The demographic profiles and composition of Black and Hispanic populations in the United States are unique, both compared with each other and compared with those of White Americans. Both Black and Hispanic Americans are more likely to have lower incomes and assets. This is a critically important consideration as financial resources (income and assets) have historically had a clear correlation to retirement confidence and responses to many other RCS metrics. In addition, the Black population tends to be more female, while the Hispanic population skews younger. Consequently, this Issue Brief closely examines the responses of Black and Hispanic Americans, taking into account some of these key demographic differences. Key findings are:

• Confidence in having enough money to live comfortably in retirement increases with income regardless of race or ethnicity. For example, in the upper-income group, 86 percent of White Americans, 84 percent of Black Americans, and 85 percent of Hispanic Americans reported that they were confident about their retirement prospects.
• The wealth gap between White Americans and Black or Hispanic Americans remains even as income rises. Lower- and middle-income Black Americans were more likely to report savings of less than $1,000 compared with White Americans. Likewise, the share with the highest amount of assets ($250,000 or more) was much higher for White Americans than for Black or Hispanic Americans for both middle and upper incomes.
• Black and Hispanic Americans were more likely to consider debt to be a major or minor problem for their household than White Americans, across each income group. In the upper-income group, 62 percent of Black Americans and 58 percent of Hispanic Americans considered debt a problem compared with 37 percent of White Americans. As a result, Black and Hispanic Americans were more likely to say debt is impacting their ability to save for retirement or emergencies and to live comfortably in retirement.
• Hispanic Americans, regardless of income, were more likely to agree that it is more important to help friends and family now than to save for their own retirement. In the upper-income group, nearly one-half of Hispanic Americans agreed with this statement compared with only one-third of White Americans. Upper-income Black Americans were also more likely to agree that family is more important. Black and Hispanic Americans were also more likely to agree that saving for or paying off a child’s education was reducing their ability to save for retirement.
• Hispanic and Black Americans are more likely to say that a connection or commonality between them and the advisor is important. This includes a preference for working with an advisor who has had a similar upbringing or similar life experiences to them, working with an advisor who is affiliated with their employer, working with an advisor who has a similar racial/ethnic background to them, and working with an advisor who is the same gender as them. Black and Hispanic workers were also more likely to say that one-on-one, personalized education would be a valuable potential improvement to workplace retirement savings plans.
• Forty-six percent of all retirees reported they retired earlier than expected — but the top reason why differs by race. While White retirees said they could afford to retire earlier than planned most often, Black retirees said they had a health problem or disability most often.

Black and Hispanic Americans reported disproportionately lower financial resources, and how they feel about retirement and financial security is clearly impacted by having less resources. Still, there are some modifications in the financial system that could help improve their prospects, including access to workplace retirement savings plans that provide one-on-one, personalized advice that builds on their comfort with having a connection to those providing them advice. Many Americans, but perhaps especially Black and Hispanic Americans, would benefit from increased assistance in balancing competing financial priorities, such as debt reduction, supporting family, and their own long-term savings. In addition, financial service companies having more people who are similar to Black and Hispanic Americans and treating them fairly could improve their use of the system. A greater understanding of the importance of supporting family and friends that in particular Hispanic Americans feel when making financial decisions is needed, so that this obligation can be weighed against their own savings to build wealth that could result in a lesser need for supporting family members in the future. Obviously, higher incomes would help, but these issues even arise for those already with higher incomes.

 

---

 

Figure 42 Percentage of Black and Hispanic Figure 35Americans Who Agree That Figure 49 Figure 27 Saving/Paying for a Child’s Education Is Reducing Retirement Percentage Who Agree They Are Knowledgeable About Managing Figure 59 Percentage Who Work With a Professional Financial Advisor, Confidence in Medicare Continuing to Provide Benefits of at Least The S E sa Fi P Fi Fi Fi T For upp non a Fi C A Fu Fi r R C Wo Fe p Fi e r he g g g g ndno o lan le o OV s g g g tofe e id m rir ur ur ur ur tu u u s ur ss nc -t e B he e a • • • • • • • p sh m tr r r r e ir r e e e e ss la m he le e e - e e e kpl I r or t ces inc a rr 27 4 4, 73 c lus e C e iona m D c s 54 63 86 y B r k 8, ne nt tMa W H L B I Up Mid m e e t hanges or la g , , n th om D - ow ha a la nt is and Deb e ac a hit of e H C P 1 c nd w e ion e p l fina e le p c g s k d a e d o onfide d b ow , e e e k 9 ho a e e nt g r A le e e t r a r H f B fo c nic t H e g A - - m his d L nd r - e llow P is inc r a is I m e r inc Va w R e e a nt of nc ou e p c C tnc andem p b v nd su A e e r ir k a e om H a nc ne e lua a t ic ia om e ro r m B p e nic g l a p e ic is nic a t r w a & la l a e o upp e nfi e - g e p (ir nd p a e ns b s w v a e $7 t r c a or a m ns in Me a W e lP d w ic s m k e e B Loans t A n nic m rr iv v t H 5,00 in t e a de or la m ho y d m ob A e ing e I is a r ns a e is s A rm c -e or c k or g upp r e ic I inc A p le k he e onfide i im r e rW e d nc e n Retir ie ic e a w m 0 o fa r m m ut s 65 or a ic nt r in t s a nic or p om a d ic e nd lik e e m low a or , om a ns e rm r r a r r k W e b c - ily ic nd e he e e ns S e A inc m t , y H nt W ly a a e hit a pac m C lik avings v tB is ns or r t m Ra ls he B fut it w ont s. 17 p iom t -lin t e c p e old e a o o in h a la e e ho a ra c ly c e w m ur ic a c ne m lly lik c e nic k e inu in t he e nd om m k e a /E b t e or fe A r P e r o g g ns e Tr w a e ir lih r m ing tr w r a A e lt e r e nnu e H ofe sa h oup e or s in t tm a m r e e r w nt nic ood iv is g lik tg c e ns P y r r he k or a e e e t p r e e ic ss t e a o e oup lans ir r s: B r tnt ira fe ly t a e r d he ic l house y e ly m iona e y nic he s w P of ns l ra m e im lik ha of m or r ra y tns ss ov ling o a a e nd a fut or e w e e A p a v l Fina W c g nt g ly a ide r e a r m of k w e r e lik e re g ur c hi e Re I r e Figure ho b e e p t a r t nc e lik e m e c e o r e tr e r e r nd B a liur e t ily e ic ospe ng m e ld ow e ng . nc or om e ir b c e a n tr w ly e Ob r m e e ne or ttH e e inc ns ia ha /e o e m or te t or nt le is t e ha r ha lik l Adv fit v c o st e e t 54 - ................................ tk om p ss w t e ious hni ly lik nt a s of s is e e tr a a a sa t e t ong lr ly nd nic g te ik e w t c r s ( e he c Sa v he ronfide e ly d is e ly ) ior e t ing t t a ha or ly y up Fi w e ir m ly fa v v , A y tk t. o s ings Fr m highe g i , ing t or ir n Whi p fe tc L . or p Re for ha o ur b b e a e ly e e 3 e e nt y e r a rha r 5 e tt t som l e ic w - w st ir lik ha or Ra c inc k nt sa p 15 in r a r e v it onfide a now t e om e E ns t e e h a s ha s not e inc v c p ly e om r ) q s w of e ing a c . t e w w ua a /E e w y om t tB le a ha or k ir o nt p t e ing d e ho la t ho l to Those e nt d e for rP hni rb si k B ofe n a e tc or g m e r of e e se k la g s e e ................................ a w off a t re m c h nif v a a g s c a c w w ss n e B e nt it ious a b k onfid r r w or c r tla ould or y e e ic t iona le o e hil a ho e a e ................................ c a ta n k h nd c he sa s a k r a nt ’d e t hil a lik tE ly h b e d r ’A v Re l fina y s e m he c ls w a out H nt id d y e S ing m w ur rtt p ’loc is e c s e ha y lp, d it d e tloy r not t su e p e he iff ha r e hdr uc tia d a iv nc r a ic t o nt d lt a b e e e l Se nic y e ta a fin tuc y r ia ut sa he t r ly d a of a t ns e r t - fe ion o w l a he y t ls to a a nt y N o y A w tc e tnc t o a he a figur ur - ion w ow m he td l kn y or a a ld b ha nd m v ia d fr e it se a y (r k C is , ja ............... r y y or p lly tom us ing ur ow a p ic or 4 nd b e a tis fin s g a e a 1 he a y nd try w e y su s e ns e le tst t lik w p ta ing , ha d ........ ha nt he ir he e d e e nc w e ’it e m g tr s a non n m a h a t h lit ir c e e y p off a ic b e t e h a s la he ili w r nt ir b n is - 11 36 n t ill le y y e Figure 47 Craig Copeland is a Senior Research Associate at the Employee Benefit Research Institute (EBRI). Lisa Greenwald is the 2021 Retirement Savings, Confiby Gender, dence Marital Status, Survey: A Clos and U.S. Born er Look at Black Figure 11 Percentage Investments Who Agree They for the Future Figure Have Enough , by Race/Ethnicity and 32 Savings to Handle an Age Figure Figure Figure Figure Figure 57 84 36 69 18 Fig Figure ure 40 72 Figure Figure Figure Figure Figure Figure Fig Fig Figure Figure Figure ure ure62 67 51 87 86 30 20 23 82 38 25 12 by Race/Ethnicity Figure Figure Figure Figure Fig Figure ure8 6 13 75 77 79 and Income 3 Equal to Those Received Now, by Race/Ethnicity and Income The list of reasons Percentage for working fo of r p Hispanic ay after reand Black Americans tirement oFigure ffered a89 s choiceWho Calculated s included the followHow ing: Ne Much eding money to make Sources of Information Figure Used 64 for Retirement Planning, of a ne t e jc t t a cus a ha o om om nd d vre v e H p g tn Whi n is d a e p for is ov a. or r ta for b p t Thi r r e ic out t a e e a w rnic ipa mo c r ( spouse c a H d t b t ts he e ir ha a e Ra E ont hil e hose b is le w d r e m m out tw e p w A r uc lf r d m e c it t ra p in a m it ’ e g or e le h ld s e e in or na loy nic ing hdr /E a tue e e m nt a ss ir k ) tg g a rhe lr g e d te a e ic e w a c hni r ing e a r d t uc m lik tna r r re a s t o he ir ill a w d a oss d cP tns e e d a e ont t ir c le p a g m la nt e o ha ir ly y t b inv ie l ma r ing t .ion is r ss t n, ov y a e si ha e w a r v tw le is s ibut e a ha b nc a e of it ide .b a v st c sa ili nd d h ha c h r e y e s e n w t m e ount a v noug y e highe v Ra ha Ja b g v e ings a I e b a ir tnc ing e e td nt e or c o o tnua d c n uc ua e fo fe e e om s for e sa k a /e h mone tr/E fit r r he ing a e e n e p lly e rv t r nd lin inc a e t y s of hni n s t e ir hn a r ................................ e e m t 1, 2020 g how g tfor om s g q inv hour o he c ic e p t a ua i(a he sa t it loy y t Fi 59 y e e tiv ry fut l for .e st t g s. m y y le s im ................................ e o e t ur ½ m ir t uc ur r ha a im liv ha ’e ( st e s e e Fi e h th m v t p n e p r t22 ha a e e g e a w te a t c c s for q ur t c he nt c b h r a ) om t ir tua e t . e e s highe e e y .y y on e I d m ou a l va n for 65 n tr c w ct te a e o he a till nt n sa ) tthe / d lu y a . c e e d p w b a Tw a t fut e r p ir ................................ it hni ic ly rt or la for v ion, e e ta a o ur e e d n th tk lly b for c hr nt tfor ie ili fa tw t he hose y y oug not p t ................................ tit ia y - som r ha a a fiv h o r ly n it b y te t-o e hout n B t m e j( a ne ir us old e ne Fi p a p d e one ta la g a r fit te id m r r e in t x p ur rov t c ie ts r e r c ic he k for e e nt d ot b ipa e e h nt A e ut ir r 44 H na he e c m tW 40 ha e t is rof e si fut ) e e lt r iv hit p . r t................................ m y n th in or ta e ir ic H p Thi ha ur e nic d for ila e e a is m re ns A n b p s c e r ,) m y a e e A ir a d c a a ................................ t nic nt nt a m ont e r t id ha tfe c g e r e e hil a ic t e ( y m not n Whi a ir r w p Fi r s 35 e a ic c ibut d e p a a or ns g h a . a e r le r ur oxim ns s hold s k – ( e e c g e t ttFi 54 od ha ount re e w ts a 29 g o a A e .b n th a for ur tr a m e ) y nd e e . e n e e t ly e t w rA H m ..................... ha e p r9 21 m e ic is 1 in ir m a ) or e n Whi . a r p e n th p not te ns p r a sloy ic e nic .lik 10 ............ .r a - c e e ns m e e t ra e ly tnt a ’ w s c in rrt ro oss o of ie the d b 51 24 e CEO of Greenwald Research. This I ssue Brief was written with assistance from the Institute’s research and editorial Ov One Ov To W A The it pe eg h th er r C r a a of si 8 in uge OVI ll, B st e the ec D lnt 10 how a ha -m c 19 k fin lle w ost a or nge w d p nd ing a or Percentage k im nde es of H k rpe s e w is or r Percentage m it p s a txpe h r a 20 ic anic nt nd 20 ha ec g s tA , s ha ra ed a e m w rvtd ings ve ir of e or t e o d r to ic k e Hispanic r fa e s fe a w e Who rns r c s offe e -er hic a e iv e v lt l a ie e h in a le Agree They c w b r Soc hin s for e out d r and Black Americans te g ia he a t ir c tl Se rr he onseq e e e Unit m ttir ir ir ce e e ur rnt e m m ed ue it t Are Knowledgeable e e ir si yS nt n e nc m t inc tm a ila is e p te e om s, so la nt r a s is n t w e o p m or ra in r ot v ospe a a k g y he r p a e ious ha la p Who Report trc ir s w ct v te e s, t ha e m C rit m e t OVI e h com he tnt e a irxis d e , About RC D e m w t -a s r e it S p e nt h W b c a la ha a Negative Job or ha e r a tsa te s w b Managing nge hit d le v a e ings p q nnu e efin ue n Whi tw o a st a or t nc lly he ions la kia t e n o e ir arl me sk s A c w ff ont m m ee e d or e a rr e e r r ns A e ic ibut d m a . a lik d te ns For hr d ions ree ic ’oug ly d a fin e ns tt x o o or a h a nc m e t how he xpe p iale l c , t Extent Confidence Emergency of Retirees’ in Having Enough Expense Sources ,of by Race/Ethnicity Income Money to (Net Major/Minor Live Comfortably and Income Source), Percentage Percentage Percentage Who Who Who Are Confident Agree That Have Ever Personally Saved for Helping Friends in Their Ability and to Choose Family Retirement, the Is More Right Top Percentage Three Most Valuable Improvements of Hispanic Americans Who Agree That to Retirement Savings Plans, Retirement as Fi a Fig gn ur urd e e 5, 4 Hi 9, DP ee bs rtc p L ee nt a vExtent a e Percentage n g l a Criteria Important e How How ic W PrPercentage Confidence ho ob Share of Re Ame Co Do Retirees’ Retirement le W Workers’ Expected aso Percentage m or nfid COVID of k of Who ns W H en Retirees Who r is it for ica h a ce pAgree That of a of -Wo 19 Pandemic nic Savings Plan Participants for Black and Hispanic Lifestyles in H P Workers Hispanic Americans r Who n ofe rkin and av s ss g fo B ing iona Agree That laRetired Earlier, Later, Sources c Who Agree That They Compare En r kl Fina Pa Aou m Impact y e Were Taught nc gh Sin ricof ia a ce Mo Retirement ns l Adv Income With What , on Re in ne by is Americans Having Enough Ability tiring y to or G Choose Preparing for e , nde b How (Net Major/Minor Tak y , by or Savings Is Ra rWas Expected to Work Due , e C Ma When c Ra to Save and Their e/When rE it are ce ta hni l Sta /E Planned, Investments, Retirement of Money to cNot thn it Looking for ty Ba us a icity , a nd sic Before Invest a Source), nd Inc U. om S. for eB ...................... orn ............... 37 11 While the differenc Non es in t Debt’s -Pe Percentage Mortgage rce Percentage aking nta Impact the ge Debt’s fir of of st on Tho of Those ste Ability Those Impact p se in p Wh Who rWho e to o pon a Sa Saved for Save for ring ve Saved for Ability d fo for re r Retirement/Live to tRe Retirement ire Save for Retirement tirem ment en wet rRetirement e Wh Who Took mWho Took ini o To Comfortably maok l a ca H in General, a Loan ross Some ard the in ship or races/ethnicities, the ends meet; Wanting money to buy extras; Trying a different career; Enjoying working; Wanting to stay active and involved; Over • • • 8 in 10 w N B Mid la otc- dk m le a or a -nd inc rr kie eom They H rds is B Retiree Behavior in Regard w e pla a ho m c nic Need k a w le a re nd eB rte la ir to Save for H e offe cis e ks p Aa rw m e nic e d er re a ic A m w m ans or or e Retirement r k e ic w p a lik e la ns rc e ee ly w m to Their pe tor lo a re n e sa , m sa lik by Gender, yor id e tha ly e Level of t he lik tt o te y hha ly ew v follow teo erAssets, esa t Marital rsa ie ying d ttis ha tfied o rte by Race/Ethnicity figur Status, tahe sons ovye e r r out a eall w tr and ir e e how w d it h th hy eIncome a m rtlie e he uc p ry h mone la t ha w n, or n p rk ee g la d y anne rt for d he le d y ss p a tw ha y of ill n 1 Top Three Reasons for Retiring Earlier by Race/Ethnicity Than Planned, by Race/Ethnicity To what extent do you agree or disagree with the following statement? B e le m A ta a la m ss idd sk cc e h r s ( k c rle ic onfide w a F -ac or igur ns a e A c rnd e ount k /e m , teir nt a e te rhni u e s sa s old r34 p ic m e tp ha r a c e p e it ns id a nt a r e n ma y nd - rr .. t inc t p he s The H la .Fi is om y r n th g p r ur p ie a us e la nic d e a g e n n Whi H 35 r of oup tA is o ) m p . a ra e e s Sp nic fin tr te w ir ic e e a a e A cA nc ns rifi m la e m c e ia t m e e w a rl a r r ic lle or ic y now a rd , a e e ns v ns B llik is e la . . or ss v e cs. 14 p k ly inc lik Atm ha erly e en th a re tised o c rc aa e ose ns g nt w r e a it of w e g h inc e it tW s 55 or ha h hi low om t ttehe e ew r y b old or inc ut ha ke e om w v rr e s sa a w e s c b es t e ry e e ons o ing n m a tis or r ge ttrhe e a e e t nt e lik e y d ta w e ha fa c ly ill rt oss i r trto ly e he t a ir — rir g a e r c p 70 e le a a e s/ tr e e tp e ha rnt e t.hni rs or tc e tc he nt i t in ie y of s, -fe lae w l s See Appendix 1 o Income f this stud Change Their y for Day the s Since February - urve to-Day Finances y details. Also1, 2020 se,eby Race/Ethnicity the, 2021 by Age, Retire Gender, ment and Income Confid and encMarital e SurveyStatus , April 2021, at it c m st RC m e inv onfide m a idd e tha S e ff a pst ns loy s. tle n His o m /r -A m nt see e n a ent e nd y sour tp nt he v a how a ie u nic lsu y loc c p w e a p c s e s w a rh a e t e he tra or ion -xpr nd tinc s a ha kpe s in r a e om t tr nde hose s (8 ss 40 the e e 1( e Thro d m y 9 B sponse k iof la ia n th ) p c nd e c p im ug B k rla c la is a p te n. he h c nd a nt r t kc e o Re Se ir ta p v e H tnd s. 84 p or spouse d he v tirem is e tr p n in e H p a atis nic a rir e nde p e en e ta t m w e rA hose nic c n t, e ill m m ent e nt by e ic by Race/Ethnicity h A m ra . )p ic m of p v Ra Thr r (a e e loy e Fi ns t r p he e g ic ce a e e n u a e rw d oug r a ns a e /E e in tw ut ions r. 81 e or thn h mone hor tThe ej) k n us . . e icity Fi Iw r a tn s w 20 nd ror ast a s lik 21 y k d , it sh a e d t Inc h inc nd r o it RC ould s offe eion, liv ly om for S e om t o c not e ov c le re, o fe m e ea m e d s of e os ran r b ly lfor a e 7 in tk , p sh d no a $ tt la s a 35 h Ge ow c b w n r 10 e rly ,000 le ibe p s t e nd d tw a p hr g d nd ha or or e er oug tup a e k o t t ed b e m ttle his rthout he ic s o ha w $7 a ha g b offic v e a out ing 5, r d tp e he 00 e e e m ff m ir r m xis 0 s, t or e a r a ,ce t na e d ts e rtr s on e e ir us lik g g e su v ing a te m e e rly c n d e e h a le t s, or nt the o ss ir Important Savings Investments Than Is Not by Race/Ethnicity, Saving for for a Priority Their Situation, Retirement Relative Income, by Race/Ethnicity to , Current by Race/Ethnicity and and Needs Gender ,and Income by U.S. Bo Income rn Priority Ranked by Those Relative to Current by Race/Ethnicity Offered Needsa Plan, by Race/Ethnicity , by Race/Ethnicity and Income Live Comfortably Expe Makes Them the nse Other Future Withdrawal, by Race/Ethnicity s to Du an Withdrawal, Child Care ring Early as by Race/Ethnicity Re a Financial Through Re Stressed, a Child tirem Withdrawal, tirem by Race/Ethnicity en by Needs, ,Retirement, en t, by Race/Ethnicity and by Race/Ethnicity and by Race/Ethnicity Advisor t, by Ra by by Race/Ethnicity Ra and Income ce ,Race/Ethnicity ce /E by by Income thn /EAge and Income thn icity and icityIncome an and Income Income d Inc U.S. om Born e Fi Fig gur ure e 28 74, , P Pe er rc ce ent nta ag ge e W Who ho H Ag ar ve ee To Ma Tha Retirement, wd hat e t Their C eha by Race/Ethnicity and xte ng nt Pe do as in The re by Race/Ethnicity and y nt ou s Wer agree ir W e o or G r d ood kp isla agree c ae t Income Ma Re wtna ith the iregm Income ing e nt fo Mone llow Sav ing? ings P y, by Ra lan Sinc ce/Ethni e Ja cit nua y arnd y 1, 2020 , by p Ke ee rc pe ing nta he geas w lth ho insura repnc ore ted or h oa the ving r be ene vefits r p;e A rsona decre llya s sa e v in ed the for v a re lue tir e om f y eo nt ur dso avsh ing ow s o si r g in nif veic stme ant nts diff ;e A rejob nce os, w ppoit rtun h Whi ity;t To e help Saving for a child's How education confident or paying off a child's are you that the Med education icare is reducing system will continu how much e you can save to provide for retirement Do you currently work with a professional financial advisor? Fi t Fi he g g u u w • • •r r or e e k 43 79 B H t ne a H ehe ft la ris is ’e e s p c ir p d rk a r a a m tnic ta he n o cnd a e ic ha ry /e A r a ie H m rtve hni d n is e e t d ir p rc sa ic c e B a ount it d nic a vy lack ns et d ha ( e rFi a e b rn Whi g p g t A yir ur a e te m r s 25 he te eseri s .71 t te w – im c )34 e r. a e e rW e n t ir w t s he m or e a ee or rk y s: ne r e e e m e rrle e s a lik tss ire o e ls e d lik ly r o ing so t e e tha lik o ly m ha d sa tely o one si t y st m tt to he he ry ila ong y t say y ro ly ctlm a h yhigh n liv ink a th or ke t a som e he sa e t a c nds t y om is e co w w fa for m ill ha c n tew n ion r tte a ec or ta b g a ly k ti r nd a e w o in r te e n it ts w to or h a e ha the ir it t c e p h o lp to m rhe of m fin e ty he e nt m ss a fe rnc o tiona ha e a nl kn ia spe a n th lly li l fina ty ow c su te s of between ir le pnc p d fe or g ia tm he etl a ab le le http By C s:/ra /wig wwCo .ebpela ri.orgnd, /doc P s/dh.D., efault- E somplo urce/rcye s/2021 e Ben -rcse /2021 fit R-e rcs se -sa umma rch I ryns -retpitut ort.p ed, f,a and nd the Lis a as Gr socia ee tenwa d fact ld, she ets at Fi Fig gur ure e 6, 50, DC erbitte ’s I riam Ip m ap cor t on tant A bW ilihe ty n Look to Save ing for for Re at ir Fi ena me nc ntia /L l Adv ive C isom or, for byt aRa bly c ein /E Re thn tir ice itm y ................................ ent, by Race/Ethnicity.............. 37 ha e k those now xc de or ple ta d a for gg ree e s 35 a m ha bidd lv e –ing 44 a leb- out inc a fe fin ltom d ta he anc e y y -W ia to w lly hit -e d ra e c ey om A tfin rm e for a e atrnc e t ic a d a e b ns s c fle a ir r om bly eet ing ir c pom e am rm ep e dor nt a w re . eit d H lik h ow w e Bit ly la e h 55 p v cte k o rA us , m in t e ee rone rc he ic ent a highe ns t ha of yn mi oung those r tw de o dr ale inc g tha -einc s 45 om n a om e– g g e 64 er B oup 55 . la , cs, Wh a knd Am H e it is reic p A a anic ns me ( rFi ica gns ure other sponsors of EBRI, YE ou mp fe loy el e know e Be ledg nefit eabl Ree sea abr out ch I man ns Fig tag itut ur ing e e - E s15 avings ducation a and investment nd Resear sc fo h r the Fund futur (Ee. BRI-ERF), or their staffs. d e of y c a inc ha e c xpe ar a y rom oss a nge r -s. I to c ce te - /e ts a d tn 2021 he si o atnc y hni r nd e inc fin e cc e jJa om it ob a iv , y nc nua e t,s, w he e e rinc e s a g rp c ry hic om oup onfide or nd 1, 2020 th if e ed s, a sa in r b nc v lo e is low ng e w ing e , t e ir w le r a e e it v offe nd e m d e h th r ls e -or inv nt r ain t e is nd lost d e fr le st his om am v ing r c e idd e ould a l hold p tspe ir e for le e rsona - m le inc cting t e he a nt of om dl fut a tr sa ro e e c er t ur t v rir oss B ie ings p re la e e dm .m uc c e k H e ea e nt ow nt A c d la m h r sa n th r for ee ev a r v te ir ic c ings o r b ria e a , oug ot m ns lB /e h r lea tnt h th w c hni re k e inv t p rir a c e r end e ospe e ir g m est rs a e oup or H m m is c e nd e p tp nt s for lik lo ( a Fi w s, suc nic y ee g or ly r ur w , A k te a e o m oh a nd rr74 ha s w e kr eic s m ) n v r. s a e e e a r a ns e sa u rnd ly t, a v ua t on ings (out 9 in ror l funds, eta ir ne ve 10 ee a rs. Th a rw g si aC or ell dD ,- e k r tha s e ie m of ,r e v s or e e in To what exte Wor nt kers do y o n= u 1agree ,5 Black n=741, 07, Retir o Figure 1 r dees isagree Hispanic n=1,5 w 1 n=731 ith the 0, Percent follow aging e Ys es tatement? financially support others; and benefits To av o of id at leas reduct equa ing yol ur valu sae ving to the s, ybenefits our “ne s rece t egiv ged by ”. retirees today? I Ra nccom e/Eet hni ................................ city ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................. ....... 24 52 Americans more likely to have done so than Black Americans in the lower- and upper-income groups and Hispanic Junhttp e 1s0 :/,/ 2 ww 0w 2.1 e b•ri.o N rg o /. re 5 tir30 eme nt/retirement-confidence-survey for specific results from the 2021 survey. Which Have you (o of the r yBla our follow spous ck ing n = e) 74 pe tried 1, op His to le fig p or groups a urn e ic out n how =73 do 1, m uch y Perc ou us money en e ta as y g ou w a e Some sour ill need ce wha of to infor hav t or e m Str sat avon ion edg b fo ly y t r retirem he Agr tim ee e yent ou ret pla ire nn so ing? that W Fi w Aor ppendi g ith r u k • •p r e e la g c 10 a a th Mid ot c Up a eount r d b he d p em out v p x ld is a te ro le or n r s e 1 a -.m ,-ot rinc inc : p a in t n a he a nd d M na om rom th tr he s g e no a e ing e t spe e a fut m ho H sia is g sa ur d crnif p tdo r v s of e v ie a is ings a nic ic tdha o logy a W r r nt is A n Whi ehit tm d ir nd im iff e e e r m e inv ic a tp r e e nd a e o nt ns e nc rre st , tan H te w t m ir is he s b e e p et. e ra n e y sh s nic t Thi .s for m ra a r or c A s in ee m e /e of t e he lik ctrlude hni W ic efut a hit lyc ns s a it ur teo y w e A b r p e m e ter rha su e e ecfe ronfide lt n His m ice ra or e dns nc . ep Ov e nt fe lik a nic for e e etr lin ly ha 7 in A w g ttm o ot crhe e b onfide k 10 re ing ic Soc c a w onfide ns w or nt ia itk al Se h a e g in ha re nt s offe s 35 o n a c ur tha vd it ing vy r tis e rtsy d or he e old noug st a y w e e p( ho m rla a . nd h to c n w ha ill ts h he ov ir a d e ra Greenwa and ld IRes ncom ee a Y rch ................................ ou fe el you have enough ................................ savings to han Figdle ure an 4 emerg ................................ ency or sudden large ex ................................ pense .......... 12 49 w Am e). ree r ic sia gns nif ic ag ae nt s 65 or ly m To or w hat e Hold ow lik ex e has ertly ent t w he C teha is OV r Ce your OV n B m ID ID or - la 1 non - 9e 19 c p k a lik - m ndem A Pa e ortg m lynd e ic r ag to ic aem nd e a ans de g rela ric e bt t te ed o Im hav w a healt g it p ing rh th e a h e ct conce a . nega is For on A s rt ns a e t, iv txa be e b us m m im ilit ine es p pa y nt sle a ct t, nd t o W ha in t on school n th yhe ork our clos o up ab se Dp ur ility ue e es yroung im - tt o inc o pdo act om e t ed he r e t yha fo our gllow rn a …? oup ing? g, e 66 55 . pe Argca ein, nt of Black 60% To To wwhat hat ex extent do Total tent : do yo Wor you kers u agree ag n=1, ree or disagree 5 or di 07, Retir sag with rees n= ee the following with 1 the ,510follow statement? ing? N t highs. Whi t low c w he e he e it n it h inc ir e cA he k rp m ifin ng/sa r re im om E raic B a nc le RI a e rv y ns s of ia ings a cno hom l me onfide , rr$ e E g 75 e aB c a ns a c r nc ,000 RI d ount nd .le e -They E ss d in h RF l or s; a e of fin m a ob w n ind e inc vor e d ing br e om ie e b e s or sa iv e m n e noug idua e id or , fit re tt e a he p p l r lik k h mone or la e y e e s p ns ttly w e ird ) e e osit t r o m of e ey xpe e r ions offe e le nt to pss o ra liv ir r e c on t t e nc ha c e d a ount n c ing spe a n $1,00 om d p b la a c for ( e ifi In ( ne RA b c tur a 0 c g Fi p ) ba olic ; d g ly te o a ur iv n nd m in r y e e e p d p inc 66 a a e rb r op te d ) om ir y. d e e osa highe Of th fin m w e e it e or ls nt h Whi d. ose r jc E inc ob inc ont BRI roffe c t ide e re ha ibut a inv A sed nc nge rm e it ion e d e e s of w r s c a si ic it w nc p a h inc om or lns low aen, k m Fe p (e om Fi la e a rb nt p g cinc rp ur e e ua ron , oxim r e om te r he y 3 ttir ) h e 1, 2020 . e is s a am It n fa ee nd ly nt 9 in c t, Whic N h ot one inclu H o ave f din the an g fo Soc y llow ofial the ing Sec fo be llow ur sity or t represen ing employer work ts chan Figure your be -pr ges ov 52 hav ha ided pp io mo ened r whe ney, n in it c your hao vm e hous e you s to ehold ( y or oyour ur le since v se pous l of as e)sets? To what ex Overal T Ho ow tent wha do l, do yo Wh es how tTo ext en yw our u ent confident ha you ex ov t ex pect each d erall look(ed) o y tent ou a lifestyle ar do yo e g fo you of ree r in r u a the fo tha ag pr or etof ir rt yo ee d em es llow isa s or di ent u iona g ing (an ree now s l f ag d your to wit ina compare r be a ee h ncia tw s he pous s ith our l ad following the tce o e) will hav vis how fo of or to w llow income you st ing ork a ex e t?em enoug pe in ct ent retir edh ? ement? Figure 51, Criteria Iy m Did ou c por ayou n ta livnt e To r comfor etir for To w Thinking ha e w B ta ear la ha t ex blc Wit yt k in lier tent about ex ret a hin nd tent irtha is em e your your H ent n ach is do ? p pla workplace /a r T you of etir nic o nn p the fo r ement ep ed, A ag m are retirement savings e r llow ab ee fo ric r rout s et a ing or dis avings ns irem a s w W ent hen ag our he , dpla id n Look rce ee pla yplan(s), ou (o n, of w nn did income ith r iy ed, ng our have you ever...? the fo you.. spous for or lat in a .? e) llowing? r etir Fi er tryn ement? ttha o anc fign ur ia e pla l Adv out nn how is ed? m or uch , by Age ............ 38 How T hink confident Demographic Breakdowns Whing T ich (hin To Bef a k of w ore ing a b ar To ha the out e you wha t bo you fo y ex ut llow our work rt exten tent etir ( yan our ing ed,) d your T do ot w ar t ork al: how d p e you o you la pla Work r eas sce pous confident ce ag ons ers ret a ret g r e) ab ee irem n= w rir ee or em 1 hy ,5 or dis out the ent ent w 0 you 7 di ere/ar , s R s sa av et ag a w, g ir ving ings orked fo ees rrby Race/Ethnicity e ee with ee llow you pla s p n= w fo ing 1 n(s la ith (,5 r an th n( pa 1 ), as 0 the fo d your e s) hav y pect rela follo , after ha e y win llowing? ve s ou y pous ou y g ev ted to retir ou ?er... re)... etir ever...? ?ed? ? ement? A me • • • ric ans L Fe How is m in t pe a arle nic he -inc H m A is om m idd pa eenic rle ic B-a la inc A ns cm k o Wh in t e m Arm ich ic ehe a e gns r of r ic oup low Did a the St w ns ro e e ng you ( r fo rFi e w -ly llow g e a m Aur rnd rgr e or etir ing e ee m e m 56 e , or lik idd if ear )e an e . ly le lik H y, lier -ow t e inc w o ly ould tha e sa om Somew tvo y en r e ha be t, ha you g tv hat he r the most te o up trt A he pla e a gree k sw y e nn a e n som rnd r e v ed et alu irno B ebecau ab la d e si c e le k ot g a nif impr A r he Dlie m isa sic re…? r e gr a ov trty ee nt ic ha p ements a e d n p ns iff of in t e la w rn eit ne he nc hdr d e m s in ha a tha idd wan th l o le-v r ing a ednd ir is m tsa rupp ibut avle e e d ion r - Debt is negatively impacting Sa your ability to ve foFigure r Retirem save ent 60 for retirement/live comfortably in General in retirement. 2 Overa Wor Abilit ker ll, how ys t n= o w1, ork 50 confid the 7, nu Reti ment b st rer ees o a f n= re y hou1, rsou t 51 you 0,ha w Perc ant/n t you en eed ta ( d a g ue nd e Str to y childca on our sp gly re or ouse) need Somewh s or will child ha ast upervis Agr ve enoug ee ion h b (ra esi gc a re dxpe lespous c si ss ont m ns of ila e ins w re rue a )upb cw a e ts g o /e ill r inging p tha r hni re ov a vc e tide e it e ry o noug )trb ha sa e sin n B m id e h mone ila fit tla he s of r clk y ife A w a y m e e t xpe tre le o er a ic liv sa st ra ie e t ns is e nc c q fied , om e ua es vl va for e to w n a it ttlu a he h th m b ely m ong t o e , t hr w fun t he tor oug hose d kb ing or e hout ne w inv w fit it it h ts r e he h a st upp e ir m n a c e e re e iv nt rd t e ir v inc op d e is m or b om tio y e nt w ns reeho s ty ir a (eFi v e a is a e g r ila s s a ur ff t tb od ha e ili le a 23 n th a , ty e t). he d t ha e H w ir onlin ow n Whi it not h th eve -e m etr tir e ools , a trhe rie or d 100% It is more important to help friends and family now than to save for your own retirement. Fi A Fi m An g gur ur ero e e ic v a e 29 75 rs ns , , a mp P P m e ea r rle y c ce e ha re Taken a Hardship nt nt per fe a a ve g g rs s e e onal a to ls of W C o ho ly sa cTho Debt o a ta llreg it e A kv c se e tg o ed Distribution from the plan (a ting n a riving be eW Level e an be ho loa mo Tha y fo money n re Sa for rt e or Their v d a Problem, ye Som ou retired? a a d ta fo w for fro rit P eone rhdra etir a m Re reement? g nt t For ir ro withdrawal made w s H e Ot e up a m lby Race/E x her a s ample, e fr / d nt th o N m or a W T ot t ha t A ho a he are inclu re re n ir Took y because a H a ou t r din a low e thni C v tg ir ring av hild a e e Soc r m eling, L ci of a heavy and immediate s a oa e , b ha ial ty nt Fi n o re na Sec y ssa and pe R o rnc v nding f ur a a ings p the ia ity n Ea ce/ lly Income or employer tp im Et C r ola ly om p e hnicit n. ula w W ith for B it tion e hdr financial need) tty a w - b in a pr e le w e ov o n a Re rided d l, 10 e tb ir r y e a to m nd d eo nt 20 a, mo b pe y rre ce nt The Retirement Confidem nc oney e S you ur You v need e money y fe , ed el in it tknow o Febr hav to liv s 31 e ledg ua sa e v r y comf ed yeabl e 1 b s a y t, r tort 2 he e in 0ab ab 2 tim Retir 20 0? out e ly 21 ( yP thr ou ees n= leas man , ough ret isir e ed t ag he 1 s out your ,5 elect sing o 1long that 0 your all you e that st r etir could da -ry unn ement app -to live -ing da ly.) comfor year y su finan tr a sv b ?e ly ces. y in of retirit em s k ent ind, ? 50% measuring worker A Wm hit ereic A am nse r aic ga ens s 5 a 5 o gre r e old d v es. r w 53 er e p elik rce ely Prep w nt ith tof o , a how aB ring gla re c impor e k for ret tA N ha m et tan te irem Ma r the ic t ar a jor/M y ent ns e/w fe . e m inor ere the l kn ak Sour es ow y fo le ce ou llow dg feel e ing ab st le cri ressed ter abia? out managing investments for the research. Percentage Retir Wor ement sa ked f of Ta or Workers ken som v pa ing y s s ince is not a e and Retirees Ot Sa retir N her vpr ed et ing ior Ma tfo y n= ity rp jror/M e of et 4 relati 3 ir7 em , wit inor P Who Calculated v ent ercent e hd to the Sour n= ra 2wa ag ,0 ce 5cur e 0 l or d Ma rent jist or or needs rib Minor ut How ion of R my Much eas family. on They ( p a sa 58 10 Fi ss ev r gr p e c ings p ur e e t es p nt reor ca e a 10 s w tnt ged la e ) n. . of e of c B ll a ont W la low Ac 1 s hit m 0 k rhighe 0 e ibut e % e A rr -ic m w inc ing a e Re or Y ns r rom ou ic klik tireme e m a b w r e ns e Curr e o s ill ha lih ing ne B w w la ood e y nt ently it cr v v k h low e t e e o savings s of r A m enoug y tm he or co or e e “ e r r p p ntributing ic som h lik r la a a ob is money nd n. ns enot ly e le A w m r m t e g ha o idd p a a aor t to take in, th e t Workers ic mo priority xpe le c t”e onfide d inc d ney c e is sa tb o car n=1,507, inc d t m v . relativ to the retirem id nt ings The e e om s a not of w e a your Retirees nd of RC e s not v fra to the c le om S H r ba ss y is ha n=1,510 p si si s a tic e s c a g n I ha g ent s nic nif nif onsi urr n $1,0 RA x ic ic pens A av ent needs a a m a s nt nt ings nd e te es lly r00 y nt ic du a by d a l y v plan iff ns w rs. ing sh re or ain a r38 of c ow e y ke n=7 nt p our /e my la p n th ll t e b tc hni 7 r ry e hr etir fam c 0 a e rre c a te nt ement e it c tA ily. ir e y inc m of .e /e m e om t W rhni e ichit nt a ec ns e it sa g y rA w oup v m in e ings p ite h low s h ra icca a h la ns d en r In your abilWo ity to to you rker choose sr and retirem Retir the r en ee t igh ss a who t reti ving Retirees have rs Wo ement prla ker no ns? n n= n= pr ( -Plea m 1oducts ,5 1 ortg ,5 07s 1 e s ag 0 o elec e r de inv bt t a es n= ll tments th 1,5 a0 t a 7, p n= fo ply.) 1 r ,5 your 10 situation Figure 7, Non-Mortg A asg a e D child ebt’ s I or m young pact on adA ult, biliyou ty to wSa ere vetau forgh Em t how ergeto sa ncies, b ve y an Ra d c invest e/Ethni for citthe y an futur d Inc e.ome ................. 12 50% Retired earlier than planned, Retirees n=740 Fi Fig gu u • • •r r e e 36 49 H t c inc I Lha n e ount ow is om p n Whi a e ac rnic e e -h inc rinc p g a t r rmoney, om e e oup rt t om s a ir.e nd e s e e m w s w H g a did e ris roup rre p e Expected ie r you ae m d nic : m or B H m ( lor or is e a A oney c p m e lik your ka e lnic e A ik rly m ic e Retirement fa ts o a ly pous e A m tns o r live m ily ic to d .e a or v is e) per rsa ns com ic ag a y olun w ns r Saved te e ha fort se onal r tw eerin e Age of tta e ha m t for retirement n=2,050 b rhe ly sa e ly or t g t m as e tfollow he hroug v or lik m e Workers, by Race/Ethnicity ye uch as an e fe ly lik in y hout e e t l th money go ly y rha e ou ex e y to a y our ret v son is ha e ha fo pe tv rv r e rie e ct etir irem d e a b w d? e ement befo thy ne o e ent n fa g figur ta he t yiv iea r yly e e w rs? out jtob ror r e ek you a or e ho te d d w inc rfor etir bm om y ed? p uc 32% fin ae y h mone a ca nc ha ftia e nge rl se ty he si r the v ync ic ry e e e s tw irill ed between Black and Hispanic Americans. Figure 44 46% Total: W or Wo ker Black rks e n= rsB n= n=1 la 1,c 50 7 k4 ,5 *7, 10 , Reti 7 Total H , is R Bpa e lac rH ees tir : ispa nic Wor ke n= n= e nic s 7 n= kers n 41, ^ 1=1 7 , 51 H 3 n=1, is ,5 1 0, p , 1 a N Perc 0 niet ,5 c P 0 n= N e 7en r 7 , egat c 3 Retir 1 e ta , ntage Pg er iv e Str ees n= cent e Job or V a on g e e 1 g r y Yes ,5 ly o 1 Income or 0 r S Somewh ome w Ch hat an at Co ge Agr nfee ident complete analysis9 0o % f the Th se os g e ro wor upkin s bg y with hav ing or th ain s kin uffic g of ient wor skin amg p le with siz a en to ad cvis ontro or, Bla l fo ck r 45% o nthe =29r 6, v a His ria pb ale nic s b ne =s 35 id7 es just the variable of Fi c sh aglc aur rula ee of t5or 2, e c A low s offe ount m m Pp e e eloy rrric c e -e r inc r a e e p nt ns rd a , om a , r.w tg a se or nd e . Onl of k B ine ing tla he W c rek o sw our e rA d k itm c e uc h a ere ss a a and rn tic iona nd a a res ns d v eRe l ma ar is fe cor t h e ir ylin t e ou w e eg rho s Wh do ia Saved v ls on e ha r ty yo he s a our c W C for onfi y ow a ork si ha lc re nm ula d ers v tila e ire ent t r n=1,507 e rm e d rin ha c a en e H civ itow a n= e l/ vd e ing 2,0 Muc .t hni 50 eh The c noug bach mone k yg N round eed yt o tto o Sa tche ov ve m e for r, a b nd a Re 31% sic tw ir e or expe m king ens nt, e w s w bit yh a as n Hispanic n=7 Wor 31, kers Perc , pla entage Figure nning S o to m 45 re etir what e n= o1 r ,3 Str 9o 3ngly Agreeing of and Am reetr iric ea Ra Ra ens cc confide e e ov /E /Eet t9 rhni hni 0 a% nc ll w c ce iit t ho y y a ................................ b aout nd hav Ie rnc e sa tom irv ee m ed ................................ e for nt, a re nd tTotal ir e is ................................ m : ce Wor ond nt kers ruc e Retir p to e n=1, r d ees n= t e ................................ ad nnu 5 0e 7v 1 , a e ,5 Retir lly r1 ha 0 b ees n= ................................ v ying the1 t a E ,5k m 1e 0p n a loy ................................ loa ee 85% n o Bene r som ................................ fit Re e sea type rc of h I ..................... w ns itthdr ituta ew (....... a El fr BRI om 53 25 ) future compared wit h th Majo Total ose r Need to Nega : aWor gte ivs 35 e kersSave for – n=1, 54 Employer M , 5 ino w 0 St 7 hil ro r , Nega Retir ng e Retirement ly H of A ees n= tis iv fe gr p e ee ra s nic a 1 retir ,5 A 1 Somewha m , 0 ement No , by Race/Ethnicity e P I rercent m icpa ans sc t avings Agr t / ag a The g ee e es 35 or Very plan D or Somew n= isa 8 gr ol 6ee and Income 2 der ha had t Confid no sig ent nificant differences in Total: Workers R n=1, etirees 50 n= 7, 1,5 Retirees 10 n=1,584% 10 inc w t inc highe ha itom om h th n w re e e is lik s r g r e r in ee oup lih B p com la or ood ct(k e Fi 8 fe ,s of 0w g % e aur or lin nd e k e g e xpe 3 17 rle 2 s. B ) ss p r . ie e For la crnc onfide cce k ing nt e a xa nd Wh of a m nt ne ite n=1, m p H a le is idd g b,p a out a in t tle iv nic 3- e 8 inc the he 4 inc w , om Black or ir upp om r ke e ee te rB ir r n= s - la or einc w 7 m c 4 k e je 1 ob om r, nt A eH m m e is cp ha e pa r or g rospe ic rnge nic e oup a lik ns n= c, t e tha ha s. How 7 86 ly 3 n d 1 d t , o p P sa ee ercent id rxpe v ce ings le e W vnt ehit cr t ag , of e rhe e a ss W A tY v ir m hit es ing e tha e m e ric e n $1,00 dA nt a em ns b inc te , ris ic w o a a 0 vs m itns ls h His eo , fr . one 33% 84 om 13 p a p p nic of e ae r r p ct c e A he re od nt m nt la e uc of r of ric g t a e tha ns st t 4 90 0% % Total: Maj Wor or I kers mpa n=1, ct Mino 507 r I, mpa Retirees ct No n= Impa 1,5 c1 t 0 41% Hispanic Americans n=731, Percentage Very or Som Posit ewha ive Imt p a C confid t No ent t App 76% licable Percentage Saying Very or Somewhat Important 75% 100 10% 0% Percentage of Black and Hispanic Americans 29%Who Feel They Have 30% 81% interest, in ne t c Fe ha om this b en Whi r d p ua a tc o nie rayha s te 1, 2020 s a e v ra ree nd c tsa e ir 74% t e a vhe nd e ,e s: w d tir ha e b r thn y n Whi ea p tnt he ic reing ity se tt.im e nt m H A e a o one m tw t iv he e eer v y s t ic y e tr, a r o ha e ns the b tir n Whi .uy e o so t e ve xt tra e rha a llA s re t.m tshe eults ric y a ca ns a re n liv in t wee hose ig c ht om edinc for too t a re m bta e ly in gin r rna oup e tional ts ir.e m re ent pre tha senta n th tion eir d not esp -ite the Impact Impact Same 1 7 4 0 0 0 0 % % % 73% 33% 4%32% la Bla rg ce kr A tha maen th drv icis aor a ns t1 80% 1 of 0 w in t 0 00 ho % % Hhe isis p a low tSt he nic roe ng Percentage sa r A- ly m inc m Ae e gr om r ic ee ge ae n ns 35% d g e r( Somewha oup r23 a Who s t p w ehe rec t r Feel They m e e Agr nt .m ee Bv or la s. 1 e ck lik 0 p 6% ae nd Do ly e rH tcha Not e isnt p n Whi a ). nic Know w teor aWho k nd er6% s w His to Go e pr ae nic als A to for o 6% mm er or ice a ns lik e to ly 34% a tg o rsa eey t ha tha t ta one s a -on- I Fint gurreo 8, duc N Ra on cte -ion Mo /E 5 1 61 0 0 0 t 4 0 % 0 hni % r 0 0 % t % % ga cg ite y a Dnd ebtI’s I nc34% om mpe a ................................ ct on Ability to Save for ................................ Retire7% ment in Gener................................ al, by Race/Ethnicity a..................... nd Income .... 13 39 t Thos heir e w c or ur krpela nt cly e 1p 3 c 05on la 0% %n ( tribut Figur ing 9% e 75 to )a. r Bela t 9% ir ce k m and entH sa isv pings p anic 37% Ala mn w erice arns e aw sk ee re d m wh or ee the likr 65% e tly he ty o a ha 65% ctv iv ee tly a 65% kce hose n eac th o heirf th inv ee se stm fre om nt sa in a nd Greenwald 6 1 Re 0 0% 0% se Bett aer rc ex h. plan The ati Thi o nn20 ks in fo g 21 r abou ho w su m t r y uv ou ch er y cu in co of rF rm en ami 10% e 3,01 71% t yo fin ly u and an r 7 A sav cial frin ie m gs snds ituation e wir ll73% ica , ns how w wou as c ld yond ou des uc crt ibe ed 38% y ou onlin 71% r level e39% of debt Janua ? 77% ry 5 t 28% hrough January 25, a2 g0 ree2 ing 1w Reti ith th 8 570% 1 8 is 0 00 8 0 % % 0 0 %st r % %e a All H te ome w m he ant s tY h n oe a u ( CO nd ct ou V ldw ID Co /c-e a 1nr 9 )e p af a fn m or nd dor to fi em re e ic 40% d t ir li e a e ke na d e rlie rly n e r than la tc to e72% d yoe a h ug e pla a rlteSu n he n c e d o tn ha cr en th rv ns, e bu ose sy ine: sy s oung aA Clos nd sc Household he or o l c tha losn uree a s im g r e Incom p Lo a35 cte.d yoo e ur…? k 64% at Black Suggested citatio 35% n: C 41% op Stroe ng la lynd, Agr ee Cra 37% ig, Somewha and Lisa t Agr Gree eenwa41% ld, “202142% Retirement Confid 4% ence Sur 13%ve 41% y: 5% A Closer Look at g r indic B W e ua la a hi c cr tk hin a e a nt tA A or m g e m s of e e 4 in e s m rric ica indiv a 10 ont ns ns , 1 8. in t hly 0 0a idua 0 The %nd % he inc ls 85 sh low om not a p St re e B e e ro la r rb fc - ng w c or e e ka it ing nt * ly nd h th lif A of gr ea up , ee H b e H su ispa le p is highe e cp t nic h a ro a -inc nic ^ Somewha sa s a st v om A e a n a , m m e St be ount nnu ro uil g t ric r Agr ng oup da ly it ns ee w A y of s h e , gr h a a a ee lt e nd ss ald h, ve ing ttta o s ($ his ne d a xpe c 25 liv Somewha ne onfide e 0,00 c g ta c t om fin iv 0 o nc e a t for Agr nc e cr. ha tia ee m a In th l supp nge b or lye in r e )si w low nc or Ae a llts m t e ir e fr Fe e rom -m uc inc be rh hig nt u om fa a Wh . m ry e D ily he ie t1, 2020 g espit ror roup for e fr ,ie t W he 48 . nds, hit H se is pe e p inc racnic elu nt d aing of nd Fi Wg he u • • • n com r e 65 I Mid Up n e p p a d e a rle r c ing -h inc -inc inc tom he om om e lik e e H e W g is lih hit rp oup ood ae nic 44% A : Race/ m of H Ae is m ha rp ic ea r v a nic ic Ethn ing ns a ns A w e icity m v e w e ree e rr r ic sa m ea or v m ns ee or d w lik e for e lik e re ly r ee m ly tto ir or te sa o e m ha y lik e nt tv e he e ly , y d tta iff o a kre e st er n som r e cong nc ure re ly s b e nt or ot ly et he w som we or re tk n th e y 33% ing w pe ha eof w tg it a e w h a g nde it rhdr e e p r 32% s e rta ofe ha wm a tss le it or iona r g is e d m dis l fina or fo tribut r e ncion ial la Fi Firg g gur ur er e es 76 30 amp , , P P le e e r roc cf e eBl nt ntaa acg g ke e a W of nd Male ho Been Tho His Ap se gar Fnic e Treated em W e ho a Ame Tha le Sa tric They We vFairly by a ens d for tha Re nr e w t Financial ir Ta oe uld m ught e ant ctua H W ow ll ho Services Companies y b tTook o e Sa foun v a ed L ain oa nd the n, Inv b p ye o st Ra pul for cae ,t/E ion by Age the thni . Fu cit tur y a end as a Inc Com hild e, ............ by 53 90% 88% 88%Black* Hispanic 68%^ Workers n=1,507, Retirees n=1,510 62% 61% 63% Fi Fi C onsi g gu ur rse e te 27 20 nt m a arc rr ie oss d9 c 0 % ount raciae l/re pta hni rt87% sc. groups, those prooffe duce 67%r ine rd eti ra em p en la tn cited better explanations 91% for whether they are on track with 790% 0% 89% 66% 70% Good U.S. Bo Financial Advice rn Non-U.S. Born, by Race/Ethnicity 48% 66% and 88% 11% Income 11% 88% 90% 88% 11% All Ability Male to work th Fe em nua m le 46% ber of hours you want/need due to cst aregiving for so 48% meone o58% th88% er tha 58% n a child 65% 6% child or yone oung , p a ed rsona ult Ha vte he liz you (o e yd w e re y d r our uc e spous ta atught ion w e) 31% t ried aould b tout o fig b ur how e e out a v how ta o lua sa 29% much b vle e 71% m or p oney ot inv e nt ye ou w ia st 52% l im ill for need p trhe ov to 29% hav e fut m e ur esnt ae v ed t(o Fi by g w tur he ore tk im p 89% 30 e la 52% y)c ou r . eC et ronv e irt e ir so e e 57% r m that sely, in th ent savings e upp pla ens r . 9 99 0 00 % % % 29% 88% 87% 63% 21% 31% 87% r t 20 The he et21 ir p e Re . la m A n o te ll r ir nt ere m p spond us e lant e nd r 60% C e t 9e onfide he 0 la nt %t iv s w de e fa 54% nc e to r ult e eW S aop hit g ur etv e s 25 or ion. e A ym (W RC e28% rhil ic S) old a e ns w e the r . a. s c r The eond w 58% e su u re r cv tno e ed y si ifor nc gnif lude its ica 31 dnt 1,50 d yiff ea 7 w err e in nc or2021 k ee s rby s a t o nd ram ce 1 e/e ,510 ast 62% ur hni e 17% rc ea itttir y tit e a e ude m s ong — s t tow his those a y re da , w r ith 45 90 %% 80% 83% 61% 56% 56% 34% Black and Hispa6 nic 3 9 9 0 0 7 9 0 0 % % 0 0 % % Y % % o A um (hae dr /hic ava ens ) a h,” ea ltE h pr Bob RI le mI or ss aue disa bilit Br y, ie not f, reno. lated t5 o COV 30 ID (-1 E9mployee Benefit Research Institute, June 58% 10, 2021). inh B c A W ha la m hit e c e lle k rreit ic nge A a A a m nc m ns e s e e r ,r t s ic ha ic B , a la a tns o n for ns c4k b 3 5 7 3 , w 5 % 0 e 0a % 50 % % ho nd a B la sour p w H e ce is k rc r p e c or ea e nt m n H of A ic a of is pe 84% rinc A r p rie B sm a ola nic d om ne al, c ror k ic pr e A a A ofes y m in r ns m oung e se ir on a e r ic r ic tal a e ir e a ns fi e rst ns na m t ill nc ha for , e a nt iop a 27% n a nd l b ad t tot ha im g vi46 se h mi or in Whi st 50 pic e d rw for d cte e le ent r e tw a he nd of m or ir or k H up e fut e is r s ( p p lik ur e ae Fi r nic e ly s inc g, ur tA a o om m s e ha sh e 82 erv s. T ic ow )e. a n e n b w xpe s w ey nt 24% e 34% rtie y rhe e -nc si ir vx p e e high d ry e a r or cne e le som nt g va e of tls iv e w of e W h inc hit ate om e or Fi Fi Fi Fig g g gur ur u u •r r e e e e 5 9, 44 88 3, L a im tha N ow d P p v on n Whi e is or -r - or c a tMo a e nd nt nt tha rtt a e m g tg n B o Al a A idd eg m lhe e of la e le lp D c r-H ic k inc efr is a b A ie ns p tom m ’a M s I nds .e nic o re r e m ic Re f B u a p a a nla nd a ns nd d a c c o lis t . rk fa iB n tica on A ve lm a 62% m stme cily A k lly, eb r n A ili ic now t op m a tayt ns e ti o wh t r o n ic t s w ha a ava P a e ns a n to sa t rr ie la abl tW ic g m eie 23% ho p or a dv e to C e e lik a yo in or C for lceula u l y texp he tto eont ir dha ec ow Hrv ow ibut t en r to r a 25% Muc e e ne etir ttir 83% o g e h T e? a 61% a m tn Em iv e he nt e y j83% ob t p ha Nloy e or n Whi ee d ri nc ’ts Re o om tSa e tA e v irm e e c m ha e for re ic nge nt Re ans P tsi ir la . e nc n, mee b nt y , a low n erd -inc Hi omes Bp la8a 9 c0 0k % % n Am ic eric 10% Ame ans27% , 58% wher r18% eica malen s 27% w se r62% e 24% more W olik rkee rsly n =t 1o ,553% 0ha 725% ve ever saved (FiBl g 86% ur ac 26% 31% e k 57 83% )19% . N His o pani signif 82% c icant gender 3 Race/E7t0hni % you cit can y a lind ve com Inc for 64% om tabl ey ................................ in retirement? / To prepare for 82% 61% r................................ etiremen Al 25% tl, did 19% you (or you27% r spou ................................ se) try to figure 55% out how much ..................... 26 70% 66% 31% 85% 81% 29% 31% The theirp re ertc ireent ma eg nt e 60% 3 8of sa 0 0% %vlow ings a e32% r-inc nd om bee tt e Brla ecxpla k78% Am na etrions icans for w 81% ho how w e m re uc vh in ery c 78% com onfide e the ntir t ha sa 84% v t ings w they aill re p d roing oduc e a in r good et ir job em p er nt ep aam ring ongfor Flood, Sarah, Miriam King, Renae Rodgers,Maj Ste o24% r Pro venb R lem uggle Mino s, a r Pro nd blem J. Robe No rt29% t W a Pro arre blem n. Integrated Public Use Microdata Series, 77% 77% 35% 34% 34% 80% 1 t wo income group 80%s, White Americans 30% were more likely than Black Americans to agree that 80% they were taught about Figure 77, Perce 5nt 0%age of 32% Those Who Saved 33% for Retirement Who Took a22% Ha 52% rdship Withdrawal, by Race/Ethnicity and incomes of $75,00 6 550% 0 08 % % 00 o % Therer (w m ere or /ha e v, e bin t een)he cha nm g35% 40% es at idd you le r c -inc ompa om ny, su ec hg as d roup ownsizin , W g,hit 75% e participants w23% ere m 48% ore likely 23% to us 81% e the default option, inc prelude p • a radt ions B ala n o c kfor v a end r, 2sa 5a %nd m HAll is p 50% unde le pa 77% of nicrr s o A tughly a m nding eric a 50 ns of 0 c w the o e Wor m r ev p a m le kers ror ious tee d w lik su is ho e su rv ly ga e e y ts/ o s vp e ha a rm od an vong e uc ag atd s for B e jus la n= c t e k r1 d e ,0 A tt ir m 6 he e 4 em r iric e ta nt ans r g b e y (t25 A re m 2 w 51% tir ereor ic m ak e n w e nt rs a a or gn k ed e si r25 s nc a 3 r e nd Ja er tir nua eteir ee s) re y s1, a .nd 8 80 0% %Better m ex oney p9% lanati you 56% ons need for wh 13% ed eth to er hav yoe u s ar ae ved on b try ack the wi tim th e you you r22% 45% retired s42% 39% o that you 61% 37% could live comfor 8% 18% tably in retirem25% ent? 40 88 8 0 % 0 0 % % % 43% c r jA ob e onfide m tir ec e rha ic ma e nt nge ns nt . w cconfide it om h mi p 8 66 a 0 00 % % d nc r% e dd e le w ainc c itrh th oss om e e t41% he s ha ir c inc ount d om 30% $2 e50 rep spe a ,000 rt42% s, w ct r or um he m .r or eA aes t c o in he maprss ound e ew tse 69% ,r 75% ing 40% e com no fapc si atg r or e nif d t10 o ic wa c itnt onsi h 8 diff d 25% pe e errr c e is e nc nt Be la s b of ckH eat is n w p d e a e H nic 76% n g is pA e am nde nic er ic A rs ( m ans e Fi r g ic aur nd ans e 4 ’ diffe • • • re ncFe L Up Up eb Ra ow s r y b p p r c e e e e G ua e su r r re /E - - -nde inc inc r 4lt a y 0t7 e % hni nd 01, 2020 om om d % r ,a c upp Ma e e im 21% t, y m 42% ong U. r e ait a r,nd S. a r -tr inc l Sta ha tie -he b Id nc om or n Whi H m tom n His us e is idd p , B ea ta l ................................ 43% le e a 42% nic p nd c- a A k nic a m A U. A nd e m m S. A re ic e upp m r 72% ra B ic ic e ns o a ra e ric ns ns n .r a -................................ inc ns w we e om w rre e e 74% e rm m e ................................ g or or m roup e e or lik lik es fo e e lik ly lye r tly t o o e a tha b o c ................................ e h r v b c e eonfide a tc cr 47% onfide e ie /e d ................................ tnt thni o nt tfigur c ha itt 75% y ha t. teI he t n cont ou the Me t................................ yhow d (ric a and a st m r, etuc t..................... he sy he h mo st ir re e spouse m wne ew ry e ill t )he w . yill 39 13 Current Population 100 8% 0 % Surve Y 42% our y: emp V 46% ec rs llos oy ion ue re r or o r8. rie nforma or 0g a [nd izat a tita on ion,s n ye ou ott] dr. u ec eMinn to ei the ve C a e t OV a wp ID or o -1 kli 9 c s, risis MN: IPUMS, 44% 2020. 76% https://d 30% oi.o 23%rg/10.18128/D030.V8.0 50% 80%Major Negative Impact Minor Negative Impact No Imp 18% act/Same Positive Imp49% act Not 44% Applica20% 44% ble t rhe etir ire • tm op ent Fo thr w re ty a es highe -p s 7ot ix 0% e perc ntria tl ha en im n th p t o rov a f te a of m ll r eH nt eti issp rta ees o nic the r Air ep m w eo ror ic r 73% ted a kp ns la th , ca 45% end ey pla r upp n eti (Fi e rred g-ur inc ea eom 72% 72 rli e ). er Whit th The 44% e a n At exp m hir ed ric ec paot ns ted e nt w ia e — rl im e bu mp t or rth ov e e to e lik m ee ly p nt t r o in t ea be s he o vn er y 52 00 %% To what extent reti do yo rem 71% en47% u t sag avinrgs ee or disagree with the following? These By Cra diff ig erCo encpela e3 6s b 0 0% %ynd ra, cePh.D., /e 19% thni 48% cit Emp y holdloye across 49% e Ben many efi of t R the es inc e Wa hi om rch I te e grns oup titut s, be ut, not and allLi , for 23% sa Gr each o eef th nwa e ld dis, tribution White 51% 73% Workers n=48% 1,507, 68% Retirees n=1,510, Per 15% centage25% Yes 60% 25% Fi sag vur ing, e 3w 1, hil Inc Pe eom rtc he ee 40% nt r ................................ ea g we a s of no Bla sicg knif and ica To nt Hw 70% is d ha p................................ iff at ex nic ere tent nc Am ee do yo rre ic la atns u ivag e W tro ho ee Hor di A is ................................ g p 45% rae snic ag e Tha ree Amt w e They We ith ric the ansfo . The llow re................................ ing Ta sha ? ught re of H 52% ow Bla ctk o a Sa nd veH ................. a isnd panic Inv est for 54 Copyright Inform 62 00 % % ation: This 64% repor39% t is copy 16% right 11% ed b 9% y the Employee 43% Benefit Research I 4% nstit10% ute (E4% B 53% RI). You may copy, r The w Ot oug he herRC hly re a tha S s 50 H found n So is 0 c pa om cnic ia t70% ha p l Se 7 0 le p % ta tA e c rtur d m ic e it su ipa r yic r nt a vae nd ns s ys a in t d in 202 em fin he 44% ong e m d 1 idd b H ha eis ne le d p -a ne fit inc nic a p om r la - Arns m e ec e , 34% c or ra c ic d tur e a -g high ns re or nt ( y25 r c w e onfide 3 w e tir re e or 45% e m s w k nc oerre e e s a rin ha lik e nd e lely ss 24 v t ing o lik 9 r a ec e ly etnoug t iv ir te o ely e sa s) h mone cy hoose . that y tthe he to se ir liv inv sa e m c eo st e m m inc for ent om tasb e ly Fi Fi g gu u • • •r r e e 50 81 2020 I H Bn th la is p ck ae , nic a tupp o nd A reH m etr ir is e -e inc p ric a la nic a om tns e re r a e t ha g g tir r eoup n Whi e s 35 es : w 33% –B 44 t ela er e c A w km m eA or e rm e re ic e m a rlik ic or ns e ae 55% .ly ns 67% lik t o w ely e sa r 54% e tyo 67% m ta ha or gr te et e h lik e te ha follow lyt tto he st ing yr ong fee expe l th ly or ns ey som e ha s w ve e ew rb e ha e hi etn fa gahe grir re ly e now ttha re a t tha tit e d n is b w m yha orte Better13% explanatio 57% 13% 60% n32% s for how much inco 13% me your sav 70% ings wil70% l 65% 38% 66% 27% highe 11 per )c . e Ir nt t lik is of e im lih Bpla ood or ck ta 2 7 5A nt 5 7 of 0 0% 0m % % % tb e o e ric ing not ans e ne . tha g Sim att iv ila the er ly ly qim , ue 5p 6 st a p ion a cteer 67% d ce sk b nt ye tof dhe aW bCout hit OVI e tD A he 67% m -19 fa e16% r m ic pa a ily nd ns , e so for w m itic h up , w those 14% hic perh inc m ma a om y rr ie fur es ha dt, he a d rne hin $2 ga 28% 50 d te iv ,000 re som cha or e nge m from or could e m in a king c w ha ont ill v e ne in eue e noug d 76 5 7 0 t 0 0 0 % to % % % o Re h p ha pr rm ov es vone e eide nt s ati ay Yv o b ves ue te (o d c n fr ou om e liv b ldfit y /c e y a s of our t nc he ) af om w f or orkp ta d im for t to le l e a rt ec a ta irt e eb st he e rly eti a re y lie re tq rhr m than rua e ent oug tir l va yo plan e u pla hout so t lu nne e ha d tto he tt he tir he rb y e e tc ir ne aen liv 69% m fite s r nt ee c y com e ea ivrfor e s t d tha b ay bn th ly re in r tir ee ire e n tsir on te od m -U. 44% a ey nt S. t -ha tb ha or n Whi n th n etir e not- differences by m 5 340% 5 0 7 7 a 0 % % 0 Y r % % ou ita30% l st feel ayou tus a ha m vong e been B 11% lafair ck 41% ly treat and Hed by ispanic finan Am cial eric sa ervices compani ns in t 35%he uppe es r41% - inc and om their 41% e g repr roup es; enta mative rriesd . Black and 4 3 70% 5% 65% 29% 62% 28% 15% 60% 15%31% 43% 57% 28% 57% 67% 67% 22% 43% 19% t c op onfide thre nt ew w th ha a ys n B di d9 iff ff 6 0 la 70 % 0e er % c %rke s nt A by m for e r rY ic aB o c alu a e ns c do . k W ( Fi a not hil nd gur 20% e know H e W is 24 hit p a w ). 14% e nic ho rThe e to go w tiror epe k e 40% s to f e rc rsa s offe e or nt id good finan a tg he rees for y d caoul p tcial la 22% he dn com a c or r ffonfide or etir dp t a ement plan o rnt erd ec tw a irte it e h g eor a W nin rie lie hit g ad s (s 14% re t ha w om vice. or n p e k66% w ela rha s: nne tM 41% or d or m v ee ost one ry coft -onfide on e-none , nt, ) In other studies, 7it 0% W w hite as shown that Hispanic pr Ame oduce ric ina rns etir em bo en rn t outsid 62% e of the 48% United States were less like46% ly to participate in a t Fi Fi yg g pur ur es. For e e 5 10 4, , loa P Pe er rns c ce e, nt nt Ba a la g gce ek of of Am W He is o rp ic rk a ae nic ns rs a w and nd ere Re B m la 46% tor c irke e e A lik s Wh me ely ric o tao ns Re ha p W v oe ho rt ta aC kN a elc e n th g ula ate iv te m e d Job a Hcow ross o rMuc 49% Ie 67% nc ac h T om h inc he e65% C om yha Ne e nge e gd r oup tSinc o Sa r 38% 5% e ev la Fe e tfor iv breua Re to rytW ir1, 2020 e hit me e nt, , G Am re ereicnwa ans w ld hoRes 4a 30% 0g %re ee ad rch tha t they were 54% taught about pr sa ovider ving was not 61% different across ages or 22% 65% races/ethnicities at the 50 print, or dto he w nloa Fut 1ur 5 d % e this as a re p Co hil rtd solely for , by 64% Age 38% ................................ personal and noncom................................ m 61% e25% rcial use 38%, provided ................................ tha 20% 69% 28% t all hard copies ret ................. ain any and 26 L t (y Fi ookin pgeur s w eg e 67 arte) ot . m W he ahe jor r 1n th d 0or e %m m e og inor p 38% raarp t ic hic sour ipa s, nt csom es w s of e e rinc d eiff a om 23% e sk r 26% e e enc d in r e a 12% s e be out tm ire einv m rgee e nt d st. ing (W Fig he in a ur n loo e 83 tarkg a ing 28% e nd t-d aFi a t g tte he ur fun e d 84 a dt a )(. TD b W yF) hit g, eende 4 in and r 10 aH nd is pp ainc a rtnic ic om ipa re ent , tir no s of ees e w ae cr h e t Fi hr gou ugho re 11 t im fin ut he p ar yor nc e e ttir ia xpe a 4 4 e nt 5 l se 0 0 6 m 0 % % 0 % c % t e to re nt vd he ic . e w 37% These lp s c he fr o n th ie m nds le pe a vy nie e a ls fir nd s a he st fa nd ld rem td ir tily he e e 24% spit d ir now t ha re e p tn Whi the rha esent n to sa COVI t15% ea trD iv et- v eir 19 e s t B e la for e ha p cs: ka n His nde tov heeir m r a p 34% ow ic ll e a nic tn r ha xp A t e e m tns la ire st e erm s/ e ic 31% d e a spe nt ns thr nding ta oug ha ge n Whi 24% 41% s 4 hout a5 35% nd – t64 20 espe A .20 m nding . eH ric ow a ns t eo v.e su r, ptp he or t White 45% 28% 21% 48% 30% 37% 30% 30% 2 60% 5 50 %% All 10% 8% Black 37% n= 12% 74 18% 1, Hispanic 21% n=731, Percent 47% age Some 55% wha 30% 37% t or Str8% ongly A 63% greeing 25%17% g ha ass ains ve et s, w ha in t phe p hil ee ne ir 39 rd e t tir 4 p o 6 0e e 0 %t % m rhe ce e All nt nt re spo p of reb p nde ot a 45% 18% rh ant tB ions la or Total c k.t he a : nd Wor ir 10% spouse H kers ispa n=1, 8% nic , t 5 he A 0m 7r, e e Retir b riyc a rees n= a ns 25% is ing wit 1h ,5 the t 1he 0 , p P se ot ercent 20% 24% e inc nt 13% ia oag 20% m l lik e e se A ha lih gree d ood 16% this tha letv e al o m 10% f a arrss iee dt s. pe rson had a H Fiis gur pae nic 78 m A cA , ount m m a Pre e e rrr ie ric c e ic d e r a 5a p nt 0 6ns c ns 0 % aount % a r Y. otg w use (.he ae of r dr e /hp aTho m a ver )o t as r se he .e a lik ltW h pr e ho ob ly le m tSa o or v ha a e disa d v bilit efor y, sa n ot Re v e rela d tir t efo d e tm o COV r e re nt t IDir 35% -1W e 9m ho ent 44% Took tha 57% n th an Ea ose rly not 62% 42% 36% Wit m hdr ara rie wd a l, (Fi bg y ur Ra ec 58 e/E ). thni Amcong ity a W nd hite Onl 40 ine % adv 34% ice or advi 32% sors that provide g40% uidance ba 45% sed on 48% 13% 32% workplace retireme 30 6 66 0 % 00 % nt % % pla 43% n even Mw orhe e fun ndc oo r ntro investme lling nt op fo tir oninc s ava om ilabl ee . For example, see Copeland, 43% 29% Craig, “Retirement Plan Participation t pog ere sona therliz B ala e re d c k not e d re 3 uc 0 6 tsi 0% 0 ir %a % g e tnif e ion w s sa ica 2int a 0 d % s c ly the it de y iff d 4 5 ha e 0m r %e dor nt ae b he b y 6y 0 a r % lt a Bc h p la ec /e k r8 ob ta 0 hni % nd lec m it H yis or 1 .0 p 0a d %nic isa bw ilior tyk m erost s v s. m 55% ofteor n. e 53% fun 53% d or investment options available 50% 33% 35% 35% 30% 46% 38% 35% A mericans, and 8H 20% 0% ispanic 43% Americans in the upp 29%er-income g 43% roup15% were as well (Fig 16% ure 76). The 25%same differences held for D Fia gtu a • • r w ee 67 rW B eb b la hit y y w c e k G Ra e ight e aw c nde 4nd 1e 0 6or 0 6 % 0/E e % 0 %k d % H rte , hni is b rMa s w p y a ca rnic it 30% g it e ye a r e , l Sta a A nd g m m eor e nde tIrus nc e ic a , r lik om , 26% ns a e e nd 52% e ly d w uc ................................ e t Io nc raete ion, om m xpe or ec hous e ................................ t lik tha eely thold Soc to sa ia inc l Se y................................ om the ce 27% ur y, it us ay nd e w ................................ dill r a t he c be e /e follow at hni mac jing or it ................................ y/m . cUnw rinor itere ia s ight ................................ our whe e cd en loo sa of m inc kping le om ................ si for eze in s aa r... e 40 14 to 60 percent range (Figure 31 41% ). 40% 55% 40% 42% all copyright and 20ot %her applicab 31% le notices c 43% ont 31% ained there22% in, and you 13% may c 43% ite or quote small portions of the report su r r m e aor c su re ve e /e lt y ing lik t hni ae ls ly do ciff it tfound o y e rsa sa enc y id e tttha ha s e hattt m a m 25% w e n I a r eg ny rRA e ed inv w ,41% a or and e s m k st ep e ra s a e dle r sona in t s nd ahe n rl sa e dm t ir fe v e (m F ings eigur s ha ale for s ha w e m v e e ul 68 rn’ as e d) t . sour si pIm rn a eila p ca e d rr s de le it of dv ion, e or inc ls d of rom oug idn’ ce onfide t hly tp ha r e 3 in n B pnc arla 19% e e 10 c for fo k p rr a e e rr te a t ir tic cir e h r ipa e es m a .nt e cN e nt s d ot /e 58% ,a tidn’ a hni bnd lyt , c tit tinv he he y ( e rp Fi e st a g w nde in t ur er ee m he no ic m or help 20% 8 a0 5 White 0 % fa %mily 49% m 7%ember 12% . 39% 49% 18% 50% 49% 36% 37% 6% 32% 26% 21% 38% 28% 60% 45 4% 0% There (w 36% ere/have been) chan27% ges at your company, su46% c 49% h as down40% sizing, 31% negative change. 30A %m Bett ong 48% er ex pH lan is ati po annic s 48% for wh wor ethk ere yo rs, m u are a on le trs ack und withe you r29% a rge 50 48% were more likely to have had a negative change than a Fi nd gur the e 3 Curre 2, Inc Peom nt rce P e 50% 4 nt o 5 0................................ 0 p % a % ul ge a tion Who Surve A 47% gre ye : Th They A e Imp ................................ ra ec K t now of Ne le 38% w d g Inc eao bme le A Que b ................................ out stion Masna og n ing TheThei se Ers tima D ................................ ayte -to s,-” DEB ayR Fi I na Issnc uee s, b Brie ................. y f no. 499 54 Americans, upper- 0% incom 27% e ma27% rried respond 31% ents were more lik Hisp ely an it co ha22% ve saved t37% han th 39% ose not 41% married, but this 53 00 % % White Hispan31% ic Bla 46% ck47%Other 31% 22% 25% 44% 30% Black 28% 21% 46% 28% being cited by W5hit 0%e workers c. los ure 29% or reorganization, not due to the 39% COVID-1941% c36% risis 4% 13% 24% 7% 2 2 32 10% 4 5 5 00 0 5 % % % % % 0% 30% 48% 28% 28% 55% 30% 32% not ha re dd sh in ip figur distre ibut s t 40 5 55% o 0 0 % ions % %prov am ide ong 29% inf or H 47% is m pa a tnic ion for Ame m 41% ric aa rg ns in in -16% oft-he err low or eest r-im inc aom tes. The e gro up m aarnd gin of Blac ekr rA or m w erould icans b e (Fi ± g ur 2.5 p e 77 e)r. ce The ntage Fi Fig gu u •r r e e 37 46 r p Ma e rtofe ir rreie ss m de iona B nt la tc l fina ha k a n His nd ncH ia pis l a ap nic d av nic is wor or A m k te ha errsn Whi ic . ans reti tw e rem e A 23% r en e m t s m e av ror ic ings a ens lik : eha ly s to a ha sim ve ila ar n upb ega rt inging ive job or o rlif inc e e om xpe er c ie ha ncnge es a in t s the hem ir , provided that yo 7u d 05 % 0%o so ve 43% rbat Fim in24% an cial and exw perts ith p or gr uru op 34% 47% s e inr t hc eit m aet47% di ion. a Any use beyond 12% the 60% sc 34% ope of the foregoing requires EBRI’s si 18 B but ut g)nif . w cH ric e it ow a ric e nt a e flly a v de m iff , rili e , ev looki a re e r 10% 5 n nc 0w %g it e ng iv h th s eb a n Al y te c ltrm o he am c , e a W p d /e nd a a hite r t ta a hni rb oug b le c y 33% Bi la tm m y hly c e a kin a d r 42% it a iH a a isp n r q A 45% l st w ua aor nic eT a r tk tt irus e p e rla m Al d a c A e lind e d nt n’ 33% d e inc t W a fin G g inv hite e om e s a e *L dst e c nd , A Bont 33% in t la those c eN krxpe he ibut Hm C isp m cion ta a a eE nic nd r dr p ie r e la w dtn b Al ie r in m r e l e m e not ing ea W nt ny hite fa a a cg m sour aeses ili s, B 30% a la c B rce ha la kw of c it d H kh th isp highe inc aa nd nic om em H re . is le for pvaenic ls re of trire ete irs e. es m Fi Fiost g gu u • r r a e eff 55 21 e Mid ct ed dle t- hose incom lee a st H is ap ba le nic to Aha mndle e 40% ric30% a ns the w fin er 70% a enc mia or l im e lik pe aly ct tof o b ite . confide 40%nt that the Medicar28% e system will continue to (Employee Benefit 3 30 03 4 % % 0 0 R % % esearch 41% Institute, J 35% anuary 20, 2020). 15% 31% 15% 63% Fi Fig gur ure e 11 55, , P Ce onfide rcent 20% a nc ge e in Ha of Hisvp ing anic 40% E noug and 42% B h M lac 22% one k Am y e to ricLa iv ns e C W oho mfor Re ta pb or ly t Thr a N39% oug egathout ive 16% Job Re tor ire m Inc ent om , e b yC ha Range ce/E Sinc thnic eit Fe y a bnd ruary those 50 or older (Figure 12). 35% 24% 27% B A diff la m c ea k rj eor anc nd ite yRa H w of is c ae p s w /E ano or nic t4hni kt 0e % Bp A r ett c r s r m e ier tsent e y e ex r g a ic pa nd lan a r ns a d ati m lIe o nc r ss ong ne s om fp oof ror hte ohe tinc w ed ................................ m om t uw d chis o e inp co low or ro mp e re or a yo rc t uinc e iona r /e sav om t inhni t gs ee wi ly c g l i ltlow r ................................ youp sa eid rs. 32% fin the anc y a iag l rreeesour d tha c................................ ets p , ra en pd a rhow ing for the ry e tfe ire em l a ..................... ebnt out m a re kte irs t em he e 27 nt m You (had/have) a30% health problem or a disability, not related to COVID-19 14% 4 7 40% 0 0% % 20% 67% Figure 3 40% For m • iddMid le- d and le-inc 1 4 upp 0% 5 2 0% 0 %om %ere- inc Whit om ee A A m m ee rr ic ic aa ns ns w , tehe re p m eor rce e nt lik ae gly e s t to ha uste a tghe re ed e the fault y fe op el kn tion th owle ad n His geab pla enic ab out Am eb rot ica h ns m .a naging 3 40% 0 0% % Black*42% 43% 53% 28% 37% 0% 20% 37% 41% 40% 60% 22% 38% 80% 25% 6% 100% differences by inc 30om % e 13% for early distributions were just in the highe 4% r two 13% incom 47% 15% e group 25% s, where Bla 47% ck 28% Americans were Fi p Fi oint g gur ur s for ee 79 89 a hous , ff b P ili ot ear e h w tchold e e 2 2d nt 0 0or 4 % %w 0a % k si g itee h th nc r31% s a 37% of 32% e e nd Fe Tho ir b e rrse e m ua tp irW rloy e ye ho 1 s in a e, r, Sa 20 ha v 20 e si s a d ,m t for ila ha sim r n th ly Re ila si trir e ze rir eam d c not ia e ra nt l/- ndo e m W thni aho m rrie c sa Took d b 46% a m ccount p kle gSom r.ound erp ea Ot rtto she .t he r W mit , hdr and aw tha a 29% l, t b isy tRa he csa e/E mte hni ge cnde ity arnd as 50% 0% Black produce in retiremen 45% 20% t 38% 28% 37% prior express pe2r 4 4 0m 0 0 % % %ission. 8% For Less petr ha m 16% n is $si 3 35% 5ons, p ,000 25% lease 24% contact $ 3E 5,00 BRI 054% -$ a 74t, 9p 9e 9rmissions@ebri.or $75g ,00 . 0 or m 22% ore w B c onfide la erce k m and nc ore eH t lik is ha p en th a lynic 2 4 to 0 0o % % rha se etir vnot e e ers em tw ir ae e rrd re i e ed m a ror (lie Fieg r ur lik tha e e ly n 19 p t) o la . sa nne In p y 14% d ta ha ra tnd ic t ul wtor ao rk , d low o for so for epra -inc y ane om nd 14% ge a fin t 32% m iv aa e nc r r ria e iea l sup dsons Blap c , or ksu t A cm fr h a om ers d ic fa ans ue m 32% ily w to e or r he e fr a m lt ie or h conc nds e lik ae re e ly r ns to provide6 0b %enefits of at 36% least Le ibq raua riesl or va com lue m uni to tyt he cente bre snefits received 10% by ret22% irees tod40% ay t 23% han Whit 36% e Americans. 5 31 05 3 % % 0% 22% 22% 34% D 1, 2020 one a1 4 , 0 0 R % % b ey tir A eg m 20% ee , nt Ge 33% N nde eed r,s C anadlc Ma ulartit ion 31% a 37% l Sta ................................ tFigure us ................................ 51 (cont.)................................ ................................ 22% ................................ 28% ............................ 21% ...... 15 40 a W fend e or l st k fin erre a s offe ss nce ia dl se r(eFi dc g ur a ur White w it e W yor h 25 it is k 13% e p )c. la le H c 7% aow e r ly 17% pe la im vn o e 10% p r, av c H e tis e rw d p a 11% he bnic ylm 41% ha w ingly v or ing 9% ke 35% (rle ne s ss w a re r 50% ly ree sour 9 in pa 24% rc t10 e icsula ). sa St rly ill id , lik ttha he ely tr 13% e it t o a 6% w rre ould e p som or t 13% b e teha 16% m va tod 27% lua pr ifi eb c ple a at rion ting 9% o 27% ts in t he for m rhe e if t t irfin he em a irnc e nt ia w l as The Retirement Con 30% Bett fid ere ex nc ple an S ati urve ons foy Amoun r wh do eth es er no yout t ar He ae so kn w ltrd 17% ack ha 30% in t withis th Savin you treacgs hing Le an ssa t 6% b h d o aut nInvestments $3s5a ,0 v0in 0gs $ 3a 5nd ,017% 00 inv -$, 74e ,9s9ting 9 $ 7inv 5,029% 0 o0 61% lv oe r m s. oArie re l Investments You32% (could/can) afford to retire earlier than you planned 19% 19% • • • A W Nm ot hit ong -m e a w 2 2rB 0 0or r% % la iekc de k rB s w A la 27% m c30% e k e rrA e ic m a m ns eor ric , eta ho lik ns Ag se e w e lye atrg o ee 36% e s 25 m xpe ore – c 34 tlik tha ew ly te rt Ie o RA m as a gor ree nd e lik tha w eor ly t k tthe p o 23% la st yc r e dong o renot tly ire or m know esom nt 28% sa w ew ho vings p ha to t a gg o la re t ns o e for tw ha ill tg b ood ite is m fin or anc e ial their day-to-day finances (Figure 32) and 13% managing savings 17%and investments for the future (Figure 33) were consistent 30% 31 00 % % 12% 50% 21% 20% 20% 36% 13% 26% The C Fi m onfide g or ur e2021 e lik 3nc e 3, ly Ie RC nc P tin one e o om S rc ha in ee 3 2 nt 3c v 5 0 ................................ 0lude % e ’ % % a s a g ta eb k d ili W e a n o tho y n o tne o A v g e c r hoose r re e sa le am tThey A iv p e le t he t o of ................................ r W right B ehit la Kcnow e k r e A atm nd ir le e ed m rH g ic e is ea nt a p nb a 42% s a p lnic er od nd A w b ................................ uc out or Ht 19% is k s or p e Ma r as a nic na inv nd g A eing m st re e m trI ir e ic nv e nt aens e s for s t st in m o ................................ e e ttnt he xplor he s for ir upp si et e a ua the r nd -tinc ion inc Fu idom e tur nte e ify r , e g a b r ................. p oup sed yot e nt w (Fi iia tg h th l ure e 55 • • I A the n e mm ong a.c h inc Ame om rice a ns gr oup of e: aB cla h r ck a cA em /eetr hni icacns ity w , te 18% hose re mor w 33% ho e lik tre ie lyd tto o sa figur y tha e out t the how CO VI m 18% D uc -h mon 19 p 30% ande ey t m he icy a w nd ill rne ela etd e d to 15% 16% retirem 41% ent savings16% 28% 4% 41% 57% 57% sour or b Ma e a ny c onfide cd eis sc sa hools of bili nt inc ty t, om ha ca losed 1s op 6 2 n th 5e 1 0 0 3 % 0 % 0 % t % %ha p ose Sd ose ou n Whi ur rc eing not d : Em tplo o ttm e he yee b 14% a re e r Ben ing p rtie ir a end fe d 24% it21% a e R.eb e s sear A .le m m The c ic htong Io , n stinc a itfin uff te m r o ad e nr idd ing da d Gr si tle eng o 27% eon n-w rinc e atld t he fin ir R om ee a sear ne nc e eca e hia rr 2e d li 0l supp spond 2e 1for r R. et iA re cls m hil or e eo, nnt d tt C B fr s, onf cla a om idm rc ee nk a c. efa ra Ov r Sund im re vee d ily y. r H a W is ll, or h 48% pit 2 in a fr e nic ie ands nd 10 re tH w ir hold is e or e pk s w as a e nic rs sa ho c rA oss m w id e or r taic ha k ll inc a for tns the om p w a e y e r e in Black* 9% st 13% An emergency or 23 3 0 3 0 0 % su 0 % % %Criteria Important dden la13% rge 25% expens 12% e c for Black and Hispanic an derail an indi35% vidual’s r 40% 32%eAmericans tirement p 13% la 46% nni When ng, so ha Looking for 32% ving 26%enough money to and Charles Schw 51 Hisp 0a 0 2 % 0% % 0 b% ani as cked Black 41% inv Che urscto h/rs rel igi w ous ha c t efina ntersnc or ia leade l torp s10% ics the55% y talked 9% about with 55% their parents when they were growing The • Re tirMid emd ele nt- inc Confide om Theree (w nc H ereis /e hp a vS a e ur nic beev n e )A cy hm a( ne RC g39% ers at icS) a you by R ns w r c a om ws c e pa ace/E rne ond y, su m chor u as d ce tth e ow lik dni n sizin e for ci ly g, ty tito s 31 an act36% iv d e yInco e lya c r hoose in 202 me t 1 t heo ir 5% m inv ea e 21% su st 14% m ree a nt tts t itude ha 6% 43% n Whi s of Atm e e Arm ice ar n icans. r st sy ertse ir tss e em m ful et, nt ha a s up tp c laon sa uld perv he -inc ings w lp om im 54% ep it r H h ois v ap e p atrnic he evir ious w p or r ospe k ee m rs w p 37% c loy tse,e r inc e r w m luding eor ree alik u a te om cly c et ass o tic rte a o p lly w or t or tr a b kns e ping la fe crerst er 23% r d ee ttss iro eem td he etnt ir ha cn Whi sa ur 42% v rings p ent te e w m la or p ns loy ke tre ha s, a r’s p t p nd rla ov n w low ideh e r e-n 13 0 2 0 % 0 % % 53% Please note percentages in the figures ma 53% y not total to 100 percent d 8% ue to rounding and/or missing categories. Any 2 across • • ea W B or im m cla h r a hit p rc je or or ke a t ir t /m c aa a e e 40% 2nd nt nd 0m /e inor % e tH thni H o nt is is sour he p p c pa it la a lp nic y nic nni .cfr e Y A ie s of ng rem ends tt, e ir a for rinc e d ic e a va s ic nd o tns he m w e e fa e tylow ha r oung m e in r n th ily m ee ror - te now ir inc e e re ir tlik m om ha m te e ha n a a nt ly er r n to sa g t ie tg o ha re d osa up, n B 50 c 23% ount y v w t la W e ha e c hit e for k rte r p w te he m a tor A he ror ty m k s ir e e .te r r 45% ry ow lik sic .t a e o n r ns lyin e tc w o trir e e ha e r 23% ae m se v m e e nt tor a he ne e tir ha lik g an th a ss etly ie v tose e t o le job a v a e g g l th ror e ee s 45 or inc a w n B it om h th lae cold k e c ha fir ernge st ; Fi Fi Rep g gur uro e er t 5 12 6, a, vP P ae e ilr ra c ce e bil 1 nt nt 0it % a ag g ye e : Thi W of 32% ho H s r isH e pp a aor v nic et E is av nd e arv a P Bila e larc b sona k le W on or llyk t Sa he ers Wh v int ede fro or ne Re t Re a pt tor ir w e t w m aw 28% eN nt .e e, g b 32% a r bi.or tyiv Ra eg Job 30% c e/E or thni I 30% nc cit om y aend 18% Cha Inc nge om Sinc e ..................... e February 1, 41 inc 78)om . Ot ehe but r t y wpaess of not 0% w siit ghdr nifia ca wnt ca los Mls ly o urr e e ha d o o riff r ne d e- or e o gv r n ae e -on nizat r nt y e, ion, lim a per n m ot son it ong de u al e d i to z ed d the rac iff ed Ce ia u OV r ca le ID /e tinc -1 ot 9 n c hni e risis s b c y g rinc oup om s e in e . In th ach inc e low om ee r- ig nc roup om 33% e ( Fi grgoup ure, 69 Bla ). ck N e Aa m rly er ic ha alns f o f d I n ch ifferoosing encha he eRa s a vin a e c lt or e h conc sa /E tthin t 1 v 2tit 0 0 hni e % ude % d k ing e c bris, e y 41% tns y ta he a b inc xpe nd out trim e I r nc ie a ce sed hoosin nc om the e s, a e ty he ................................ r gir e nd a t ir c fin onfide e b eso t a ha nc vha ia nc ior l a te s r td in he v eis la ha yor tc e va 51% , d ing n liv ................................ t t he o e fin e c no rc it augh om e nc ria ia for m l ma tha tone ab tna ly A y m g in r to e em rliv e ic ................................ e ta e ir nt ns e c m o a 21% w m nd ee nt for rp e w rt e a m ep brost a ly er ing m t hr lik or oug e 6% for ely lik ..................... t hout ro e etly sa ir e ty to m he ab erir e nt e . In 27 Fi gure 28 20% 20% Male* Female Married Not U.S. Born Non-U.S. Male* Female Married Not 10% 0% 26% 26% 27% m r p g up e a ror toup ,nde ir a e end m s for lik m e the e ic nt ly ha w w t re o or d esr b ults a k ee 1e 0m m r % c s onfide s a or h a jor o e nd w lik o errd nt e e m ly ttha ir t inor e ha to e t s c n th mo c it ne om e s ose t g ne a o bt f ine g iv the not aetd iv im . fina e m p a Financial raa er nc c a rie tsons ia on d l , to a t p lik he nd ice ir s a m w a m Advisor 25% b e aong re ili king t y e q upp to ua e,nds w llby e y or r - lim k inc k Age ee tly he om e tto or num e b r20% e he e spond b dlping e isrc u of s e sthour e nt o ds, su be s w p m tw paor e rare t nt ie n ot d e 25% Bl d he W ao c rhit rk s. ne a eInd n cer e ad nd W ed hite H t a tis o in p anic cover such an e1xpe 30 0% % ns Alle is20% impor 7% 19% tant for 18% indiv19% iduals 14% 27% to st 10% ay 27% on tr3% ac 27% k. The like Em lihood ploy of mA 33% ent me rSt ica ans tus agreeing that they feel 20% 19% 25% 32% 19% Figure 80, Top Thr 11 2 00 0 %e % %e Reasons for Taking a Loan From a Retirement Savings Plan, by Race/Ethnicity ........................ 55 inc w one cha or om nging - kon ee rs a - H one ijn spa ob d , s p rnic e ;e tr a ir sona 2 2s a w e 0 0% % e or s rk liz e aesu b e rout s w Al d lt l,a r e d is e rvsu e tic Whi ir m e e ete m sor t ha su eent t Blac rlik 23% 19% r b ound puil e k* la lyn sa d Hisp s on ting o ani b v ings w e r c t e he st tir rir e e Al ss m c lould om e ent d f W b .or b hi y The e te t pp w rre it e 20 p Blac h ha ser a21 ring kv e v RC Hisp ing d f or ( S ani Fi a inc g r c e c *ur t onne lude ir ee All 73 m dc e )ta nt . ion n o Thi W thi ha t te v s w o e n B rtsa hose a Blac la s e 29% mc k* p k vle p ew r Hisp n mor ov of orani iding k Bela cre s. L c k lik t he a ow end ly m e tH ra o -is d in b v p c e ic a om nic e. e 4 15 0 00 % % % Other 4% 10% Better explanati 39% ons for how much in32% co 38% me Marr your ied savings will Born 27% 17% Marr 37% ied Fi tre gnd ure cha 51 t r in t hose e nge t ir he es or e ir a s g .hous eds 35 Yiff ou ( e e hrhold a– e d54 /h nc aAll v e ew si )s a e nc in subg hr ee ae lt h m pr Fe White* ob or b lee r r m oup ua or lik r ae y d s not ly isa 1 bilit , tha B 20 y, la e not d n th c20 k rein la , tose ett dha he to COV H n th ispa a te g ID xt e nic -1 e s 55 or 9ir a * ra eg st es a All old t50 iste ic or r 17% a . lly old White si eg r nif count icane 15% tr ; Bp la if no a crkts.17% 46% treH nd ispa c26% nic hanges are noted, statement than B H 2la ispa 0%ck nic a*nd Hispanic A 16% merica15% ns 53% , and they were mor 15% e likely to agr41% ee with the latte 40% r st 7% atement than just 2020, Hb ispa y A nic ge 16% and Ge 16% nder................................ 14% 34% 24% 24% ................................ 3% ................................ 14% ....................... 15 p im t inv w hose a ep re rtor e s ic to ula m tin a rs or nt ,r t , he e efor B xc lik llow a e e c tphis ly k t e In fo at r nd o - c tr inc o hoi ha tthe A aH l, pro om c ab v is e e sp d to o e w uc t a 9% u a c nic tg e t k k hr r that guara e o oup e ma w n o A w mu m rk or , ne e c7 in ek r ht, ic ing c mo 19% ntees a om wns 10 nhe w ep y it re w a of wo h a re e Bl u rtd e hose ld a n W c w m ya k o o it d or u rk f inv h b v sw e a is o y e it r pa or lik ot s y h mi o to h Whi e u w yly rs (iat d n h e tw d d o e yo le tha re e xpe u inc a rv 51% F muc snd ina e r pom t olow is nc uH h see e ia is le )s, a e in t l cu p su r sa s pp rinc nic r he nd e lin o kom tir rt fro e ly ov A ly p h m e a e a m to v s a e r ret r 8 in ic d ic in nd is ula a sc a n A us vs, a a 10 r ing ss d sfin ef sit. e of nd ined aa tn snc Th d t 21% . hose in t inv D b ia e enef ue s l g ehe e s43% t me oa d w it t o is upp o it nls rcth up tsus he , a es nd se rion -p inc e w uni sr om o a inc rq re kue e ing om no g rw e w oup s ith , c re onfide tireme nt 0% nt 5% 0% t ha yet 13% a T a t rhe s t ken a Lo y ha w 13% n Whi ill a n ha frov t m e e 22% the A em noug erich mone a Tns aken . 13% a y H at 16% rd o sliv hipe com Taken an E fortably a32% rly thr Withd oug rahout wal T atken s heiro r me etir Oe ther mety nt pe yo e fars than those 15% b A inc e m com e arus ic ea e g ns of roup w chil es r,e d 1 B 10% 0 1 1 m c 0 % 0 la a % % or r ce k e ne a lik nd e ed ly H s ( is to Fi pa b gnic e ur c e onfide A 13 30% m) e. ric H nt a is pr ns 10% tp o ha a d nic a un th ce re i nw 38% le rose eor ss tirem k lik e not en rs e tly w m e ta o re rr sa ie 20% aff v de e . cW for tehil d r e e m tb ir or ir ee tm hpla , e ant s 3 in 14% c . eB ( ut U. 10 , S. w sa he bor id n o n vs the ffe . r pe non ad nde a- U. w mo S. ic rk ha b po la d rc n) e a did Fi gure 73 A product that guarantees 13% 19% 12% Work for pay F12% inancial support from A defined ben 13% efit o 12% 29% r t Fi he gur y ha e 5v7, e e Pnoug ercent 5% h sa age v ings to 0% Who H La ha es 10% v se ndle th E an v$35, e a r20% n e 000 Per m sona erg 30% e lly nc Sa y or ve 40% d su fd or $35 10% d e ,Re 00 n la 50% 0-t $ir 74, re g 999 m eAl eent lxpe 60% , bns y e Ra inc 70% cer/E ea thni ses $75 80% c ,w 00 ity it 0 , h inc orI m nc 10% 27% 90% orom eomee, , a 100 fr nd om % G e 43 nde pe r ........ rcent 42 Figure 34, Perce 1nt 05% %age17% 26% Who Agree They Are Knowle 11% dgeable About Managing Thei 62%r Day-to-D 14% ay Fi24% nances, by A Fim ge u • rric ea 82 ns Bla tc o ka A llow 30% m 0% 5% 1e 0% 0 % rfor ica 10% ns a caloser ges 25 no ta inc n–a lud 34 lying si w s of e thr ee vt a m he lue or c o e ha f ylik o lle ue r nge ly pr imary to s t aha g rerse t ide e the ntc h e y a o tfa r de tc he e fi n yin sa e d d o benot v ne ing fit p ka lan now nd a21% s p sw erte sho ?p atro ing go fo to r rfe or tir g eood ment fin . N anc ew ia l W Ma consi hit ny ed A e w m ror ee dk r ic e vr a as w lua ns2, e b 5 1b % r 0 le B e % ut la 6b a c p y ls k e o H rha is mpor p as e nic e lik spe 24% w eor ly c Bia k la te o lly cr ks offe sa By la tc 6% he k re a y dnd w 7% a ep H rla e is n. p st arnic ess 22% e Ad m fr er 24% om ica ns pr, ew p 11% a ould ring Hispa b 8% for e nic ne re fit 19% tir fr em om ent inc tha re12% a n w sede raess Bis la ta ck nc w e or in kers. Wh 0% Bit la e c mon k* 22% pla thly n 10% (the incobo me rro fo wed r life, 23% 15% Distribution from the pla 40% n family 22% fr or om frthe iend pla s, inc n (lud a12% 9% ing withd traditio rana wa l 23% l pensio or distrib n pla utio n, n 9 t here were no sig 1 10 0nif % %Bic etta M er 25 nt ale ex -3 16% 4 pd * lan ^ iff F ati em e 13% o r 18% 3n e 5 a s -4 nc le fo 4r* e Marr wh ^s. 26% $ 19% eth 3 5 ied 4 ,00 er 5 -5 * yo 04 -$ u * 20% 7 ^ ar No 4e ,9 to 9n 95 tr 5 14% ack -6 Male* 21% 4 wi12% th 6 5 you or Fem r old ale er Marr 25-3ied 4*^ No 3 21% 5-4 t 4*^$7 Male 5,00 45-5 0 or 4* F^ m em 7% oa re le 55-6 Marr 4^ ied 65 ^ or old No 21% ter more • likeI ly n th to e b em 3 0 o 0% idd % ccurring le-inc om am Yoe o u 20% ng (g cou r oup Bl ld/ca ac n:k ) af W inv forhit d to ee s reto tA irers m ea No .e rlie S r ne re ic than e a of ns Arie yo thes u pla w el e n Inve nree d m stme ore nt lik se aly nd t o Cha agrle ree s S tha chw t 8% ta 22% he b, ir “B pla ac re k nt Inve s or s to inr -S laurve ws a yr 202 e/we 0:r e Tabl H Fiis gur pae nic e 81 o A , m f Ext e C re o ic nt a nt ns of e . W nt mon 25% orsk thly er s’ inc 7% 18% E oxpe me fo cr life, ted Sources of 18% Income 18% 7% (Neft a mily Ma or jor fr/Min iends,or inc Sour ludingce) tra , d bitio y Ra nal c pensio 18% e/E 39% th n nic plan, ity ................... 56 w H The is erpe ra e nic c is onfide a A m sig ent nif ric in t a icns ant he w ir d e is ra e cb o m ili nn to yre e tco tlik c bhoose e ely tw te o e ha n w the v e or r ight tk aekre sinv n a ’ exp e n st e “m ot ct33% e a he nt tions rs for ” ty a p b tehe out of ir w w siit or tua hdra king tion. w 17% for a lTw t ha po an Whi yof in r the ette ir t op A em m te e hr nt ric e a e ans nd fa c (ttF he or igur s sh ea 79 re ). of a cha n a lle dv nge isor s, w this ho sp I 4ss 0% eue cia B lizre ies in house f more close hold lys w exa itm h a ine Wo si s rm kB eila rla s n c r= ka 1 ,50 a m nd ount 7, RH etis ir e of p ea s m nic n=o 1 ,51 ne Am 0y/a erss ica ens ts tbo y tu hsi em ng . These the 37% me carsu iterreia s d we ev re elop the e d t op in who did 1not 0% try Al figur l e W hi out te* ho Blac w kmuc Hisp h mone anic* Al y l they W 15% hi w te ill ne Blac edk. Hispanic All 17% White Black Hispanic* You 2 try 5-34 to ^ increase your asset 35-4 lev 4 el* 45-54 You try to mainta 55-6 13% in 4 your cu 14% rrent asset lev 65 or old el er* r not ne etg ir a sh etm iv ow e ent im a p p si la a gc n, nif t on tic he at nt yhe sa d su num iff id ce h as trh e b e nc a e y n annuit r e pof a ov rhou te ic y ripa arll, th s t tehe a ety upp trc he eti ould rem e sa ren - m inc w t se av or om r ink a gs te ceom U. as Wh S p.a-rbeo it dre inherita n His w A itm h 2 e p nc raic in 10 Whi es nic ans 28% A. m Fu erric t where the th e a 12% e ns w rm or w or kee e a rr, e mount s. The B m laor ck ye o a u ne lik nd e gly a H t iv is to p ea bim nic e p act on a Fim gur ong e 13 the , C low OVI H eispa D r 0% 0% -inc 19 nic om * a Pmo ae n All ud g nt e ro 14% m is up pic White a id Itm ba Wh o p 84 c en a k with Bc la Very p t you c e on k 16% rc C Marr look(ed) e HA o ispa nt (a withd nf bied ili id a nic ent tm y ong t ra o fo All wa rW a Somew tl or he pr mad k of W upp D es hite e hat ue s34% iona e Co rt withd o B inc nf la l f C id c ina om hil ent ra k wa d ncia Hisp M e l C arried mad ga ar l No r nic ou ad ee t N p v C bef is o e ( All or to w nf e Fi od id re g 14% s, b ent ur White* e ork y 59 Ra ). ce I Bn th /E lactkhe nic 22% H low ispa Marr itynic e ied ...................... r-income group, 16 0% All 22% White Black Hispanic All White* Black Hispanic* All White* Black Hispanic Race/E0% 0% thnicity su a cnd h as A ag n annuit e ................................ y ................................ Whit inherita e nces ................................ 61% where the 26% 13%amount 26%y.......................... ou 28 b q Fi ue ag la u st nc • • •r ions e ing 12 W W A or m w cor hit om rong e ek r e ting e ir pr e e a e H m td tw ing is ir d ee it p e nt e h a a dfin s w ni p this c n a la a e nc A nni r m d y e ia e v ng e m l p a is rric or or ra ta ior o e d ns t v ha e lik it ic , xplo ie te e t hose s, suc ly ha tha rts a e o n B tsa a he h a si gla y e m im s d s 25 c tila ha kp e A ra t b – m r ctta 34 the e c rof re ia y ic w d l/ ta t u e he e rns c r y te thni ion, t C a o m OVI g cm or e b su sa e a D int 55 p c lik -k p 1 a g e or or 9 p in t rly ound t ing old a the o nd e s ir fa e r ta r.m m c ong s t ur ic ilhe y r, e , ly e nt m a vor nd a : a lua B ss som tla he e tc e tk ir e le p w A r ow vior m ha el th e n long it tr ie ic aa g a s in n B r ns e-e tla a r et e g r c ha g m e ka s 25 t a r sa d it nd v tis – o ings. 34 more In Report of Findings 0% 0% .” Th Fe eWo reb (w rua rking ere/ry h wit av e2021 h bea en n) c aa h d Activ at v nis g htt e os at r t ely p ha you scho :t / rha c /w om os sw a pa e w yo sim ny. , su ur inv a ila rie ch r racial/ethnic as d li estme nve owns sizin nts tme g, nt Use the W s.o cro king w m/ deima faith ultg inv ae n s estmen a/dv sto iso rie r t t o ha s/ ption P t is DF/ the asam riele -sgend chwer aba-sblack-investor- 0% 0% 0% Fi gur •e 58, g Mid ood Pe drle c a- e t nt a Sm ou nd aa rcg na ee :upp Em g W plo ing ho e yee r - t Ben inc H he a eom fv ir it e R em sear e Eone vH ce his r In y p stP ita e uttha nic e r sona ann B d A Grm ela lly ee nc w rk aSa ic ld a a Rv e nd ns sear ed w c H f hor 2 e is 0rp 2 e 1Re a R em nic tit reor ir m e A ee nm m t C lik e onf ent e riic dly , ea n b ct ns eo y S u.Ra sa r vey.y c e t/E hatthni the cit C yOVI , Inc Dom -19 e , pa and nde Ma mic rit a and l Status 0% 10% 20% 30% 40% 50% 60% 70% receive is 80% typic 90% ally based 100% 2 20 0 0% 0% 0% % % interest All 0% thro White Les1 ugh payro s0 t% han $35, Blac 2 000 ll0 k% H because ispanic 30%of a Allhea 40% vy $35 White and ,000- 50 $% 74, Bla a 999 g ce k 59 6H 0 ispa % ½ that y nic 7o 0u % All 25% $75 8 White 0% ,000 or m B 9la or 0% e ck Hispa 100nic % t c r tw he e onsi to ir RC e • ad e ce s r Soss r. w e H Fu d ho is e w p ra ta a he he c nic ch inc tn se rua m Aor lly m om le e ed c , rt Al o e ic ne ing White Yo la w ans u w nd or sinv pend q k Whi w rue a e in r e te c st rst e d e Bm o la /e e ions m wn y t c et ir Blac kn hni o *etr w o m e w kop ur ith c e e lik it a H nt r , ty Hisp ss ispa e ions how e ets , g ly a ani w rnic d oup t hic d impor o c w ee sa d h . r e y t Al c White his tan ould ltthe ha t y ar te sa W ha it 0% a e/w hi r m w te vte e B o ere the ould la a te crc Blac 5% v koub ra oss b lua Yo k* e fo lin u Hisp v ha tr llow Hisp 1e g a a 0 % lua c v a p c ani ia e nic ing onseq rno ior lb c /e *l 1 a e cri it t 5 hni ss % ie tter o et Al White ue s in r s/ lc t ia? he nc no 2 g0r t e m % o app e W s for ups g hi if t a te lic r B 2d : he la a 5 r % ble* p c teir o ke Blac t ir rp rfor e e r 3 km te 0ir H m % p e ispa Hisp e a a nt m rnc ing ani nic e 3 secu e nt 5c % /gr *for prla o it w rn sa y e. tth o ir Thi e vm v ings s e ernt Introduction ................................ Black Wanting to 26%clos M s o urrtay e e 17% o o r r n................................ e e- oro gn a-on nE 19% izat nj e, o ion, y per ing n 38% ot son wo d 20% u al erki i to zed ng the ed 15% Cu OV ca Wa ID ti-1 o 4% ................................ 9 n nting m crisis oney to Needing mo ................................ ney to To he 36% lp financia.......................... lly 8 U.S. Born Non-U.S. Born U.S. Born Non-U.S. Born U.S. Breceive is orn* tyNo pic n- ally U.S b . Bo ased rn co hour wor nfi ks B d ee rs nt la w cte k ha r a en th nd sa 20% StH ou o isis se rfied <$1 cep : a Em b ,00 nic or All Al plo ov Al 0 l yee ln o e w $1 r Ben or a Less ut ,White L Whi 00 lW l w es ek si fhi 0-$ ie ts te t d R te t ha r e it hs c e 9, sear an h th n ba 99 of $ B c $35, ould Blac 9 Blac 3 h la c I 5 kg te n c ,he st 000 0 k $1 k k* it ro 0w * u 0 t0, w und eor U Hisp H 00 a Hisp or ispa nnit k d 0-$ to Gr k p ani ani e la nic 24 eb y c d e o cc e * n , 99 u w e c St a a 9 ld p a us All Al R Al la t e lle $2 sear e ns s 5, Figure of c( 00 hof Fi White* $ 2 W $35 W 0-$ 3 c 0g fe hi hi 5 2hil 1 ,00 ur ,te te 49 00 r Ree d 0- e ,0 t99 id r-$ 34 e $ c20 m 74, , 9 7 B Blac a Blac e 4a la r n 999 ,) 0 te lt c C $5 . 0 k k k houg onf 0ne 0,00 iHisp d Hisp He e ispa 0-$ nd ch ani ani e s 99 S nic w uw c c r,v * 99 he a ey. 9 s not n a Al All All$1 l sk y 00 od u e ,00 iff $75 White* W $d W 7 0-$ hi e 5 hi ,a te 00 ,00 r te b 24 e 0 out 0 nt 9, or or 99 Blac m Blac B b m 9 la or im yo c e k k* re t kp $2 he r Hisp 50 ov Hisp Hir ispa ,00 ani eg ani m 0+ e nic cc *nde e *nts r, to b ut the no se t- C onfide • nc Be la c in t k a he nd 0% aH bis ilip ty a All nic of tw he Less White* or tk tw ha eo rn s m $w B 3la a 5e ,j c 0or rk 0e 0 m soc Hispa oria e nic l p likre og ly Allr tao me $s (Soc White 3 xpe 5,00c 0t -$ia 7 t Bha 4 l Se la ,9 c 9t k9 a cur H p ispa r itod ynic a uc nd t t All Me hatd g ic $ White ua 7 a5r,00 e ra )0 nt or ine B m la t ehe s o c re km Unit H ont ispa e hl nic dy St inc atoem s e to for life, a Fitg or ur e jus 82 t , aE bxt oveent 40 of S ou pW rc e er :or c Em e All k plo nt eyee r s’ of Ben White EAxpe em fit Re ec sear ric tB e c a la d hns I c nSour k st itin uH teispa ae c na d e Gr nic c s of h r eenw aI a All c nc ldia Reom lsear /et White ce hni h 2( 0N 2c 1e Rg ett r iB rMa e oup la mc enj kor t C a onf H /Min g ispa ir de ene nic cor d e S utSour rha veAll y.t tche e)White y , b cy a n ha Ra Bc la e ndle c/E k th H a ispa nic n inic e ty m ................... ergency 57 survey-2020.pdf All White So Bl me ack c * ombi Hispna anition c* of b Alloth White No Blt sure/ ack* D Hi osp n't rec anic all All W oh n s ite alary Bl and ack* year Hisp s an ofic* p reparing w im His e fo p rpr or ea rnic m teator 3 nt ir 0% 0re % e etm to lik ir ehe e nt ee ly Al Al s lp , ll .a t o fr d nd ed ie us W W uc nds unde hi hi et te te io this n) a rnd st Blac Blac ca rfa nd it k* k*e m r im e ion th Hisp Hisp ily xp m ediate fina ani ani now er c cie a * * n th nc tha Al Al es w llose nc n to sa iait l a need W W h th g hi hie te te vs 35 or e e ) ty for fin pic Blac Blac Ba lack atnc k* k* lly he old pa ia ir Hisp Hisp l sy yeow a r ani ani ; tax pena sn r B c ct* *e lam e c 58% tk Al Al ir t ha llA e ltym m t e em nt W W ria hi hi c y a te te tha ns a23% ff n th a Blac Blac eg ce tk* k* ose s 35 B18% la Hisp Hisp ca – kg ani ani 54 e ac c s 45 or nd * *we Hris e pm a old or nic e e r ; addition, financial service companies ha 30% ving more people who are similar to Black and Hispanic Americans and treating acThos tive and e w inv orkin olved g with or thinking ofWhite workinbuy g Bla w c ith extra k an s H * ispa adv nic isor, mak Black e endn= s meet 296, *Hispa su nic ppo n= rt o 3t5 her 7 s* Two of the top three M uc re h a bsons etter th for an exp taec king ted aSom loa en w what e be re tt esa r thm an e exp ac ec ross ted tAb he out ra th cee ss/ ame et hni as exp cit ec ieted s: on s ta o W lap ors rya and e yth off c an year exp rs e ec od fted it card bill or Fi Fig gur ur ee 14 56 re , ................................ la COVI ted D he -19 alt h conc P 25% aD nod n't em e kno ric ns w ................................ I m inc praecatsed on St A t ro he b ng ili ir ly t y A c onfide of gree Bla ................................ c nc k Somewha e a nd in ha 0%His t v 5% Agr p ing aee nic 10e %noug 25% W 15 D or %isa k h mone ................................ gr e 20r % ee s t 2o 5%W y 3tor 0o %kliv 3D 5e %ue co 4t 0m % o for C 4............................ hil 5% tadb 5 ly 0C %a trhr e oug Neehout ds, b y 42 Figure 35, Percentage WR ho etired A L Less Less es g e sAl r te a h t tlha ha rlier than pla an e n n They A $35, $ $3 35 5 000 ,,0 00 00 0rnned e Know Less than le Rd etired g $e 35a , abo 0 b $ $35 $ 0l 3 3 0 e 5 5, ,00 ,00 00 ut A0- when b 0 0-$ $ -$ out 74, 7 74 4 999 ,, 0 9 pla Ma 0 9 $0 9 3nned 5na ,00g 0-ing $74,9I 9 Rnv 9 etired est lm a$ ter $ $75 e 7 7nt 5 5,00 than pla ,,00 $ 00 s for 70 0 5 0 or ,0 or or0 m mor m 0 o t nned o he o r mo e re re Fu re*ture, by t dim isceonne and cfe t is es ( con Fig siur ste e nt 70 a )c . rR oss ound all r ing acout es/ etthe hni tc op itie ts hr , e ae s ove , Whit r 7 in e pa10 rtic w ipa ornt ke s rsought s expec tto edh a to ve w inv orke for stm p ea nt ys in r tha ett ir m ea m tc eh t nt,he but ir and expew rie ith a nce s w pr Se ouit v rcious h e: Em the plo e yee m fin Less p Ben aloy nc eft itha e ia Rersear l sy n w $3 ce h 5st Ir ,0 ne e st 0 it 0 m a ute ut atnha om d Grte am et nic wa aa y ldlly Ra eff sear te ra cc $ hns t 3 2 5 0B ,00 2fe 1la Rr 0 ec r -$ tik re e 7 m d 4 22% a e , 9 nd nt9 to C 9onf tH he idis eir np c a ec Snic ur urver y.e Ant m eerm ic $a p 75 ns loy ,00 ’ e 0r or r e serv ’ts m irp e ic olre m e an if/whe ent prepn th arateions y cha . nged 10% Percentage Male LLes 20% esss tth h an an $35, Who $35,000 000 FemAgree They ale MarrAre Knowledgeable ied $35 $35 *^,,00 000- 0-$ $74, 74, No 999 999 t Marrf ied or) Less About than $75 $75 5Managing 0,* 00 ,^ 00 0 0 or or m mor or 50 e or e old21% er 15% Less than $35,Very 000 Confident Somew Blac $k 3*5 0% ,00 hat 0 H-$ Co ispa 5% 74 nf ,nic 9 id 9 10 ent 9 ^ % 15%No 20 t C %onf 25 id %ent 30 $7 %5,00 35 0 % or m 40o %re 45% 50% m pla an rrs, t • •ie dhe B H Ma la y is c le p w k a e H nic A re is m p m e Aarm or nic ice a er ns ic A lik m a e w ns e ly e r r ic a Less Less teo a g m ns e c t ts 25 it ha ha or e y n n e ou one $ $ – lik 3 3nge 34 5 5,,e 0 0-0 0 ly on 0 0 w r te - to one ha resa n m , ya or p tghe ee er sona lik y 50 w e w ly e $ $ lire 3 3ze e t 5 5 ro ,00 ,00 eim d a m 0 0a g p -$ -$d or ra 7 7e v 4 4ce e ,,ic t 9 9 e 9 9e lik t9 9 d ha b e te tly ha ing t he tn th o y m ha d e or v ir o e e not m a aa v ne r a $ $r k ila 7 7 ie now g 5 5,00 ,00 d a bt le c iv 0 0 or or ount w e a m m s ho job v o oe re re at rlua o or pa g r b inc o tle st om .o ( Fi for g eur cg ha e oo 14 nge d ). in e cont xpein ns ue e. su tH o c ow h a pae ys a v a etrn a , Nle ot in t e annu : st Thhe e t uit he n dy t ew r, $ b Lo 3w Les 5e ess ,0ill highe ne s0 t 0t h h ib n an fit an ce om s offe $35, $3 a r e g 5, inc m 000 r00 ou Pa p 0 ercent om rj sa e or m d ple /m e t od g siag inor ze roup a w e ay s t Saying sour oo w s, Wh sm as st all ct 4% e o sh Very $35 ir $3 tong of e ow 5 , 00 ,00 A an inc 0- or Somew m 0-$ y st $a 74, e om c 74 arr t999 i,ic st oss 99 ice a a 9 lly ns in r sia ha g ll inc nw ie ft ice t Import air r nte e om re m su m lte e s.or an nt ae tnd tlik ha $75 re $7 n Whi aly ,c 5 00 , e 00 t 0 /e o 0 or or serv ta tm hni e g m or ic rw o e e e c ree or it y tkha e grrts oup .t hesy, c w ait n ha h no ndle Demographics ................................ Hispanic 31% Less than 20% $35, ................................ 000 15% 15% 16% 14% $35 ................................ ,000-$74,999 11 ................................ $75,000 or 16% more ....................... 8 6 Fi A t E A he m x ppendi gm e u pe rr ic fa ea r ir 29 ns ie lik tly hose ’ e nc c rx ly e ould t e ir t2 a o e g :W m us e im SFigu ou s 35 eeith Fi rp nt c er t: hi ov Em p –s c 44 r plo r e ee yee p t rn h w a itS e r Ben e e anc a ir rt rt e ion th e at ions fus i t Rm ee ial is sear or .of t a c e hi n th IS ca tlik nhe ste ite uose l r tly esy vices aS ntst dha ignif Gr a eg em n th ee n. s 55 or w aA C ld ose icanc Rg o er sear m e a a cg old h tpanie 2 e e0e r s 55 or 2 e 1unde RrK e; tH ire a e is m n pa y s erd nst old n t C ic H a onf nding is e idp re, a nca nic end S uof r vA et y.t m hose 64% he er im ica ap ns gor e s 45 t aagnc e18% s 25 – e54 of – w su 54 18% er p e w p or m ert or e ing e m lik or fae e m ly lik ily te ha a ly nd n to Hispa Sonic urce: Employee 16% Benefit Research I 11% nstitute and 6% Greenwald Resea 12% rch 2 28% 021 Retirement Confidenc14% e Surv 12% ey. 11% 16% 10% c rIn eda it sctud ardy d oe n bthe t a His nd f pa ina n tic o nc *b ia uy l w ae ll hom being e, 1% o cf aw r, oor me ot n,he Blra la ckr g ae n dp u Hris cp ha anic se ( w Fi og me urn e w 80 e). re fo The und to thir sd co rre ea low son er wo an s d a iff thre ere ent -q ue be sttio we n en H Fi ow gureev e 83 rt, he , G tE he eir xt nde r e ne e nt trxt ir a of e Snd ou le mRe rv ce ee M nt : t Em l o a ir plo r y e f c it e e yee a a 10% s’ rl Sta r it Ben s t Sour er eha fia it t us R e n Whi c A sear e ................................ m s of ce h19% Ir nic t ste I ita unc tns A e1% am om n dsa e Gr reid eic e( naN w a ns ar e lde t R . eMa im searp j cor or ................................ h 20/Min t 37% 2a 1 nt Reti ror erm e e v Sour ne t Ca onf l signific ic dee n) ce , Sb ury vea y.Ra 13% nt ................................ cdeiff /E etrhni enc ce its a y 21% ................................ cross ra ...................... ces/ethnicitie.. s. 57 16 100% Race/E 10% 2t0hni % city and The Ageir ................................ Day-to-Day Finances ................................ , by Race/Ethnicity ................................ and Age .......................... 29 only The r isk tp 3 in ole ande rjaob 10 nc m s t e ric e , ha tw ha irShe e n Whi S ou Sd ou Se ou ou r S c rr s r ou a c rr e c e c e :n im e e r:a Em c :Em :e e Em Em s B t :p plo e plo Em plo plo or yee p plo yee A lyee yee a ta m ed yee c Ben c Ben k Ben Ben t e e Ben r e a on t feic e iftha ifnd t fiR e itt Ra e R fR e isear t e m ns t e sear R sear sear H eta sear che . c is hny c c h I h h Ip n c Iy n I st n h n a st it st IA st it u nha nic it u it t st um e u te t it t e a e u d a e n t a a e np d nr n d a Gr a d d ic a Gr n Gr Gr c dr ea et Gr t e e e e ua ns ic n e e n w e n n w e ipa w a w’ a lly n ld a a ld wc ld R ld a R onfide R nt e R ld e w sear e e R sear sear s sear or esear cc c h ck c h 2 onsi h h 2 e c 2 0 2 nc 0 h 2d 0 2 0 2 1 2 1 2 1 0 R 1e Rfor 2 e d R R e 1 t e e it e rin liv R ite r tie e irr r m e e m ted p im e m re e n e a e m n tn C n ty e C ting t C t C n onf he onf tin r onf C onf id onf id i e id c d er n e ee iom n d c e n n c e e c t cc e nir e S e om c S u Sfor ue S e ru v u r v rS e m rv e v u y. e em y. rt v y. e y.a ey. nt e bnda ly ( Fi thr tg ions ur oug e of hout 85a ). p For rreofe tir te he ss m iona e re nt tir l fina a end es w t nc he ho ia irl S Sou ou SS ou rrS ou c c ou e re c r::c re Em c Em e : e :Em :plo Em plo Em plo plo yee yee plo yee yee yee Ben Ben Ben Ben e Ben effie itt e fR R e ifte ie ftR isear t sear R e R e sear e sear sear c ch h c I I c h n n c h I st st h I n it I it n st u n u st it tst te it u e it u t a u a e te n t n a e d d a n a Gr Gr n d n d Gr d e Gr e Gr e e e n n e e w e w e n e a n a w n ld w ld a w a R ld R a ld e R e ld R sear sear e R e sear e sear sear c ch h c 2 2 c h c 0 h 0 2 h 2 2 20 2 1 1 0 2 R 0 2 R 12 e 1 e R 1 ttR ie irR re e e te im t rm ie trie e rm e e m n n e m tte C n C e n tn C onf tonf C t C onf onf iid onf de ie d in n d e id c c e n e e e n c n c S e Sc u e u S e r rv S u v S e u e rv u r y. y. v e rv e y. e y. y. SS S ou S S ou ou ou S ou SS ou ro S S S Sc ou rrou ou ou ou r c ur rc e c c re e c :e rc rc rc rc e r c ::Em e c :e: :e e e Em e Em :e Em Em ::: : Em 4% : E Em Em Em plo Em plo Em m plo plo plo plo p p p p yee plo plo lllyee yee lo oy oy oy yee yee yee yyee e e e yee ee Ben e e e Ben Ben Ben Ben B B B Ben B e e e Ben e Ben enef ne ne ne e e f e e ifft e fi fi fi f ifi te it t t t iR t f e t R iR R R R f ie t R f R t i e e e e t ie R sear e tR e se se se R sear sear e R sear esea sear e sear e a a a sear sear rc rc rc cc c h c h h h c 2% h rh c I h c h IIIc I nst nst nst I n h c I h I I n h n st n I h n st I st iiin st t t tit I nst st u u u n it it st u n it it t t tu st u e e e t st u it u it e tit t u t e it ut a a a t e e u e a t u nd nd nd e a t e a t a n e a e n n a d n a n G G G a d d a n d Gr nd d n re re re Gr Gr d n Gr Gr d d Gr e e e G e Gr nw nw nw e Gr e e e e e re e n e eenw e e n a a a n e e w n n e lllw w d d d n e w w a n a w n a R R R a ld a w w ld e e e ld a ld a ld R a se se se a ld R ld R R ld R e ld a a a R e R e sear e R e rc rc rc R sear sear e sear esea sear h h h e sear esear 20 20 20 sear c c c h c 21 21 21 c h rh c 2 h c h c 2 2 h c R R R 2 h 2 2 0 h e e e 0 2 h 0 2 0 0 2 t t t 2 2 2 1 iii0 2 2 0 re re re 1 1 0 2 1 0 1 2 R 2 me me me R 1 R 2 1 e R R 1 e 1 e R t e R e iR tt nt nt nt r e R t iet t ie re irie r t e r e m e iC C C t e irm t rim e r m iem 4% m on on on r e e m e e e n e m e m fi fi fi n n e t n ent n de de de C e ttn e t C t C n C C t n nc nc nc onf C t Co onf t onf C onf onf C e e e onf ionf d onf S S S inf id id u u u id e d ie rv rv rv ie d n e d ie d in n e e e d e c n enc n e c y. y. y. c n e e c c n e e c n e e S c e c S e S u S e S u e u ru S u S v rr S u v rur r S v e v u v e ru e y. v e r e v y. rv y. e y. v ey y. e y. ey. y. . Figure 59, Perce1 nt S0 ou S0 ou a S S S r% ou c ou ou g re crr r :ee c c c Em :e e e Em :::W plo Em Em Em plo ho plo yee plo plo yee yee yee yee Ben A Ben Ben Ben Ben g 5% ef er itfe e e e iR tf f fe R ie iitt t sear e R R R sear e e eThey Ha sear sear sear ch c I h c c c n I h h h st n I I Ist it n n n u it st st st tu e it it it tu u u e a tt t e v n a e e4% d n a a a e Gr d n n n Gr d d dE e Gr Gr Gr e enoug n e e e e w n e e e w a n n nw ld a w wld a R a ald R ld ld h Sa e R sear e R Rsear e e esear sear sear ch cv 2 h c c cings to Ha 2 0 h h h2 2 0 2 2 1 2 0 0 0 1 R 2 2 2 e R 1 1 1 t e R iR R rte e e e irm t e t tiiirr rm e e e em n m m etn e C e e tn n n C onf tndle t t C C C onf onf ionf onf die din e iid d d c n e e ea e c n n n e c Sn Em c c u e e e Sru v S S S re u u u vy. re r rv v vy. e e ey. y. y. ergency Expense, by Race/Ethnicity and group • haB fin tv he la ing ac ir nc k hous le r ia e ss l o 0% tir te e rha hold e rs w e n 56 p tir e e si m rnc ee e m e nt r c or Fe e pnt e la b r lik nni w ua e ho ng rly y w t1 o a, e dsa r 20 v eic y20 ce onfide t ha ,t ha tha t n B the n th ntla y in t ce ha kir he A v a e m g se no e es rp ic 5 a ra og 0 o ss ns e r r a ta s/ m old gnot e s d s 45 er oing acp ount or p lic so ( old a eb rp e le Fir ag .rt ur t ha s.e n Whi 26 and te aFi nd gur He is 27 pa) nic . H row etir ee ve es r, . an emergency expense than Black Am 1%ericans. White Americans in the m 8%iddle-income group were also more likely to 10% Fin test o • anc n fina t L us hose ial ow nc e e tia his B rl - a ac li g a te c e nd rs 65 or ra it kgr e c upp r yion th tha o e und rold n -inc a W e n th hite om r . o e w se W om hit ag ee e n s 55 or A wm ere er,ic a a old lthou nse w rg .e h re the m or sce o rlik ese o ly v etra o ll ha wveer ep e low rsona . For llymo sare ve info d any rma m tion one , y s efor e R obert friends that in particular Hispanic Americans 3% feel when making financial decisions is needed, so that this obligation can Fe Fig eu lin re g c 3om fortable ac6% cessing the financial system can help individuals 0% start 2 0or % stic 40k % wit6 h 0% financ 80% ial o1r0 0r% etirement The H A Hss is isp p ea a a ts a nic nic dva nd a A nt nd m a D e ge B reb ic la tof a c ................................ ns kan A(m tov o 0% ec r eo ic rsa v ae ns m r 2 0 m p % w le e ed ris ic e4 a t 0 m he % l e or ................................ xpe a eb 6 lik ili 0ns % teye ly s) t o t o 8a c 0on nd sa % y tW r ol t1ha hit 00 for % te c a rim ................................ it nd e pror ia Bla tw acnt he k A fa rm ec e som tor ricsa e tns ha c onne ( t tare ................................ o m c ta st ion o kre ong ends rly c om am ssm e oc e ona tia ), te li bd t................... ut y w b B it ela h ma tw ck e en ny of 10 All White Black* Hispanic* All White Black* Hispanic* All White Black* Hispanic* 90% 8% a a E wb d xpe or v iliis k ty r e or ie d t o nc a in s t sa ers w e v he t eir ir it for e h th m thir e re nt d et ir , fa fin e m c m a or tor nc ee nt .ia t.ha l sy De nst p 7 in e en m 11% d ing 10 and d on id fintit a he nc for inc ia 19% p l p om osit rofe eiv le e ssi vre ona el, asons one ls 11% a- ls q lik o ua eha rw te v are nt ta o ing n im one to p -h a st a ca t lf . yof Ia n fa cA tiv m ce e t , ror ic B a la tns he ck y ra ee nd pnj or oy H ted is it p ;a t ha nic thits is the y • Black workers were more likely to expect that financial support from family or friends, including inheritances, 90% 86% 4% Fin Fi Fi The g gur ur • anc de e e m 84 15 Iog ial , , n th Inc C E rxt a OVI om p e P ehic nt m r e Diori idd ................................ -of p 19 rofile le Re t P -ie a a tir n nd se d s a e e upp n s’ m dic Sour ce om Irm -inc c p pe a osit s of om ct ................................ ion o on e Ig nc A roup b om f B ilitla e s: Wh y c (tk N o e a W tnd it o Ma er H k A 26% j is or m Dp ue e /Min a r................................ ni ic ta c o or ns p C op a Sour w re ula eg re iv ct e ions ing m ), or b for e y in lik Ra tSom he ecly e ................................ Unit /E e to one thni aeg d rc Ot e it St e y he a ................................ ttha e r sT t ha are the n ir uni a pCa q ................. hil r ue ed nt ,, b s ha bot y hd .. o r58 43 Fi Cl lo ag g wer arrk ur ee e e - w t 3 aa it nd 6, l. h th P “Fi up er e np c ae e st nc 1 nt ra 0 -ia % inc tael gm W e om ee W nt ll e- ho b B te ha la iA ng c n mi gkr Amo e Aem d Tha d eng le ric - ta inc Bl H ns ae om c lping k a nd a end H m Fr is H idd p is ie ap nds nic le anic -inc A a m W nd om e orme Fa e ic a H m n ns is .ily ” p . GFL a Y Inic s Mor etEC , A m m W idd ee oIrrk m le icing a p -inc ns or P t om a w ant p ee e r e r Tha H S m is eor rie n Sa pae s nic lik W v ing P e A ly m 2021 e for to ric b -Re a 1, ens t c Fe ir onfide w e bm e rua re ent ry nt m , or 2021 b in y e 12% 12% b e w •e ighe L re ow d tir a e eg r m - ainc e ins nt om t (tnot he e ir H inc is ow pluding an sa nic A v ings to b m Soc eric iaa l Se nsuil c w ur d e it rw e ye m or alt or h th ee m lik paloy e t ly ce ould r to -psa r ov re y su ide tha ltd tin a m the one le Css y OVI )e trha D ne -n B 19 ed la pfor a cnde k su Am m pe p ic roic rata nd ing ns.r fa ela m te ily d m he ea m ltb h ers 0% 25-34 35-44 6% 45-54 55-64 65-74 75 or older Employed Unemployed Retired I pn 2021 lanning , . the How RC ev S ea r, sk som ed e seve Am Les re a sr l q tic han a ue ns $35, st d ions 000 o not ab fe out el th r12 ee spond y have $35 ent b ,00 s’ e0- e p $n tr 74, ar999 ee nt as te for d fa tihe rly fir by st fin tim a$75 nc e, ia ,00 inc l se 0 or luding m rv or ic ee s c the o m rep spond anies. I ent n s’ fact, A t t Fi he he m gm e u rre r ic a e su a nd 75 ns lts a t he cib te out a dd tv 5% o ris em or tira e w km 0% e e e re e nt nds i m pr p 1m eor 0p % ea te a rta nt t tions he , 2su 0 % m c , h a ost in p s w c 3a 0 om r %tor icp k ula a ing re r 4 d 0ho w % w it us it h a h it ehold n a 50 % be d in v inc is gor om 6t0 he % w e ho .t hir The ha d 70 s h m % RC ost a S d ha ca 8i0 t s his % si ed m b ila ty or r9W ic 0upb %hit ally e r inging d A 1e m 0m 0e %on r ic ost a r ns rsi am . te ila d r life 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% c Fi a Fi A onsi rm g g e e u u l • e rr r s ic ss e e ta e 13 90 ns nt c w H onfide is ill a w p cb e a ross e rnic e nt a m 8 0 m A r % d or a m a ue ce je e or 11% /e rlik tic /m o ta e hni tns ly inor he c t a o p g g a sour r ree oup nde s 35 poc rm s e t– ( ic fe 44 of Fi e ( g Fi inc li w ur ng g ee om ur r e t 86 e r e m e ). 21 aor in r te )e . d e The W lik unf tir he eely a m le n com irt ss ely o nt a p b g osit tyha p r e a fin e n Whi riv ing atenc ha rb e ia t ta yt e l se sons he inc and y rom vd ic lik o H e eis e not c a p ha om nd a nic k vp now ing ra a w c nie eor t /e o w sk 39% . tm ho e hni H ras ow k t.co eit e g y e 39% v, o nds ejrus t,o w tm for low hil ee e g te oo B a r- nd la d inc c kom e a R Cv OVI e ailt air D ble -e 19 m a t Phtt e ant nde ps: m /A 8/ 0g ic % ge fle Im c .o prg ac/tw ................................ p-conte 11% nt/uploads/2021/ ................................ 02/Financial-Well-being ................................ -among-Black-and-H................................ ispanic-Women-WP- .. 14 Retiree Expectat Al 75% lions Whi and E te To Blac wha kxt ex pe Hisptent ani rie c*do yo nc Ale l u sag Whi ree teor di Blac sag kree Hisp with ani the c fo Alllow l ing Whi ?te Black Hispanic Race/Ethnicity ....................................................................................................................................... 17 t c Fi he om gse u p •r a e p r r e 38 og W a dr e w or r a it h k m h a ing s p veing aw rcov h o itah a iding fin the n a ar nc ad atia nd v le is lly a or c st c om om t ha the pft a or ris sa et d a m the b w e le it le sa r h e vm t tehose ir l o ee m g f b eende of nt ene W trha f hit it as n B s t ec he o A la m m m cp k e: a rA r ic Be m la a dns e c w rkic . it A B a h m ns ot W e h .r hit ic Ba la ens cA k m aag e nd e ric s 25 H ans is– p 34 in t anic w he e A rm sa e em m ric or ea inc e ns lik om are ely e m to or us e e likely to ag Ra rece e /E tha thni t the city y c aa nd n ha Inc ndle ome t ................................ he large expense than mi ................................ ddle-income Black ................................ Americans. ..................... 30 Turnin • g tLo ess que tha stions n $35,0 on 00 prior (low 10% itiee s r r e inc laom tivee ) to : B re latc irk e m Am ent er ic sa av ns ings, werupp e me or r-e inc lik om elye tB ha lan Whi ck Am te e rA icm ans er ic aa nd ns H to isp ha anic ve le Am sse trha ican ns concerns Sou d rce ec : Er me pla osed yee Be nt ehe fit Re ir se ar con ch Infide stitutenc ande G rin ha eenwaldv Ring esearce h noug 2021 Reth mone irement Confiy de ntco e Su liv 71% rvee y .comfortably throughout their retirement in the future. Obviously, higher incomes would help, but these is 21% sues even arise for those already with higher incomes. p Fi a Fi p e g gr p ur ur cre oxim e ep t6 85 ions 0, a , tE W e xpe of ly or one t khe cetres’ ir -dq p E u Re a xpe arrte tire nt c ertm s’ a of te fin ions nt all a A nc A UA g nd m ia b e out e er 60 l sk of ric W a ill W ns s a or or 6 k 0in t k nd -6 eing r 1s, b he reA t 6low y ir ft 2-6 e e Ra 4 m re Re e c r e nt t 65 /E w tir e o tehn xpe m inc 66 e ic -6 rnt om ii9 te y nc v e ................................ s. Re e 7g 0s. A r or oup O tir m lds eong er eds A is am Nev c gtidd rua e er R elly le w etire - it inc Dh th oing ................................ ome e So, st re aspond tb ey m Ra ene c tnt e t/E ha s, Wh tthni the ......... cit iy tey fe ...e 58 44 l e sixpe gnifric ieanc nte d s iff toe r te he nc m e, s in how working rw espond ith an a ent dv s in isorlow who e15% r is and aff up iliap te ed r inc witom h th e egirr oup emp s loy 53% respond er, wo r to king surw ve ityh a que n a std ions visor . Ther whoe ha fors a e, 0% You feel knowledgeable about managing your day-to-day finances. Feb2021.pdf?x27564 Figure 71 56% he A The Hm islping p ea r pic nic aa nde t ns o A m fin m ofe ic a ra ic nc ha ll aa ia Sns d ou glly re a csh es :g su Em w ow re plo p ea p r yee ed te or e r e Ben t a q im ot eua si fitp he g Rlly ea nif sear 66% c r s tlik ic con h w a Ie ne nt st ly r itlow ue tt d e o le a iff 17% e nr dss r e e Gr -rp inc e e lik or enc nw e om tae ly ld fe R in b e t e eo sear lw ing b e or ce hi 2 ng k t 0ce r 2it 1e r Rle e s’ a ed ttss ire e a a m d b es r c ili nunf onfide t C te y onf a a tsons ido ir enly nt sa ce, , S v y uov re a oung ve s 49 p y. e for ra ll b e re r e tH ut ir rc e is e m w pnt a e enic r nt w e e m tA ha re or m n it le e er ss lik ic d ac e id ns onfide ly on tw o eupp b rnt e e le cin t e it ss re -in d h lik e c bir om e y ly e financial o 7 0% 7 00 %r % retireme Les nt s th p an lanni $35,000 ng advice than Blac $35 k ,A 00m 0-e $74, ric 999 ans a 20% ges 55 or olde $75 r., 000 or more 10% Consistent across racial/ethnic groups, roughly 3 in 10 workers expe 64% cted to retire before age 62 (Figure 60). Workers of lik Ree tir ly •e teo s’ ha t Mid fe his v ee d lin c le r low it g -inc e s re a ion th rom b inc out eom a W the n th hit es a ire o lif nd se Aem st a a ey g ss rle ic ee s a in r tns 35 s. e Thi w or 63% tir e s is r e old e m m e ea nt ror ; c e B rsee it la lik icca m e klly ly Fig e Ad m tim o ure te o p ha ric or a lign a v 29 te ns a nt p a w e g c rit sona onsi ehs 35 63% wd ha lly e –r 44 ta sa tthe ion a vw ey e d r e e a s fin xp ny me or c m ate nc e one d lik ia it l r e y l w y for e ould sour to rus e tcb ir e ee e s (i t, m his ae nc s j nt com us r it (not t ee rov ion a nd er groups. Re r egta irredm lee ss $1 nt of ,000 Confide inc in a omnc e ss w e e ................................ tesr.e 2m 5-3 or 4e lik ely to ag 3r 5e -4 ................................ e 4 ^that it is mor4e 5 -5 im 4 por ................................ tant to he 55lp -64friends a................................ nd 65fa orm old ily er now than to sa .......... ve for 18 • Black and Hispanic Am Bla 9%eck rica n= ns 74 w 1, e His rep m anor ic en = lik 73 e1, ly Perc to ha env ta e gte Some aken th wha e follow t or String ongfr ly om Agr t ee heir retirement plan than years than White Americans 16% . 17% t Fi Ahe m gur y e rha e ic a 16 vns e, b Iw m ee ep rn fa e a cm t i Sor of r ou ly re c C e t:lik r OVI Em All ea plo e58% tly D yee e d -t White 19 o Ben ba y e P f g itfin a Rree nde sear a e Bnc la cth c ha m Iia k nst ic l se t it H u t ton ispa ehe arnvir dt nic ic Gr he p e ea es c nA r we All b aom nt ld ili Rts w ey p sear a t White o n ce hie r 2Sa e 0s a 2 1g v Roo e end tB ire la fd m or c t ea k he n tt Re C H onf ir m ispa t ia ir r de ena e np nic c m erg e Se ing usent nt rveAll y. , m bay one t iv Ra White ey s ( c e c/E Fi om g thni B ur p la ae crc k e i43 td y H )w ispa a . nd it Hh B nic isIp nc la anic om ck a e And .......... me ricans 17 m si Fim g aur ny ila • • •e rof 3 ra 7, L H B tche ow la is ia Pp c l/ ee k figur a r e rc nic a t-e hni inc nd nt e w om c a s w H or g b is ea k e Percentage ill p e c of a W k rus nic s w gB hit re la ound e e A c hous rm k r e e e a m tr nd tir e o ic or e hold a e tH e he of ns s is lik w m p Workplace Retirement w inc e e a , e rly nic a e rom e nd tm o m A e or e m w or a xpe e or e s a e rlik k ic lik c ing a e tce ns ly ont tly ha w t W o tr it to ol h a ho sa fina sa ty o n a A y nc t g see ha tr ha d ia e Plan Participants tv e l supp tis w t he Tha tor hic he y w h d tC tor r ho H OVI ytiff e tfr lping is o e D om rm te -he 19 nc a fa in Fr e sa p m ts ie a a m Satisfied With ily in t by nds nde e or rg he m a a e cfr nd nd ir ic e ie c a a end ur Fa nd nd r r a m s, inc e s t r e nt ily e thni lhe a a Itluding s Mor ss e m cd it e ( y the Fi le pg e a e v ur lt rI esi h m l th est p 50 oa er) n v t. a ent n Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. 7 H B Fi w r to ela is or g tr ir p c u e k k e a •p e r m nic e a or rs ( nd e 30 t nt H A Fi tis he H m p g p is e r ur y a ospe p r nic ic e ha a nic a16 v ns 6A c 0e % ) tm rs d . b w ee H e te r ir e ue is ic re n tr e p a e a ns m ts t o ni e o ha a c tin t rhe t ew e n b lik d or he p unf e a k y ly nd e hi W r a g s in tehit ir o he m ly b e ic r e low r tr e c w y e la om oung to e ir triv e inc -p e e a as. e om r nd te o r , d te w upp he w hil git ir rh 37 p oup e e o r - W lde inc s hit r a om e e nd cr ount c A e e B m nt g la e re oup c rof r ic kp a A a W ns srm thit w s ew .e r e B ic r e e la r A a em ns m c k m e or in t r a or ic e n e a d lhe ik ns lik H e . is ly e m Though ly p idd ta o tnic o r le e b -p A e inc or m not old tom e rte ic ha la e ra . t r ns g g W tre he oup hit a sh ls p eo a a w rnd e es re em ic 60% 7% 54% Fi Fi Th g gur ur e e es o 86 61 urc , , e Re Re s a toir sons ffeem ree d Percentage nt for a sA W c gho e or of ic kie ng s Re wfor te ir Who re e e P o s, b anlin yAgree That Sinc ye Ra re ec s o e Re urc /Ettir hni eing, s Their a cnd itb y y ................................ re Parents Ra sec ae rc /E h ty hni o Had or u cd ito y o ................................ n Are Having a Financially your ................................ 53% own; family and ................................ friend ........................ s; a personal, 59 44 each race/ethnicity had a median expected retirement age of 65, showing no significant differences in retirement ha ass lf of ets) rha einc ttha ir ve e luding n th e his s rose teor g Soc a i cra a dg lly ia le el Se ss s 55 or ha of d cur r aa it c cold y le e /e or aert r hni e ; cm or Bc la p rit e loy cy lk a tre A ion to r erm p -p or errov tic ed a ide ens ttir he d e a m m ig r e e one rs 45 e nt tir y ce) onfide – m 54 th ea nt w n His nc e lifre e est p m aa ynd or nic le eis r e A lik sponse a m b ee out ly ric ta o a ns s t us s e .o expe m this ac ny t e c r d ot it ( e he Fi rion th g r ur RC e S a 87 n t m)e . hose tA rinot cs. he aIg n e r s Black Hispanic^ t heirE ow BRI n r ae nd tire Gm ree ent nw ta ha ldn w would ere 50% W likhit e te o A tha me nk ric t ahe ns 20 (Fi21 gur R Figure eC 36 S sp ). onsor I63 n thes w upp ho erhe -inc lpe om d e sh g arp oe up, thi ne s ya era ly r’ s su one- rha vey lf of : AAH RP isp , anic White Americans: a loan from the plan (the 18% bor Figure rowed24 amount is paid back with interest through payroll 100% Less than $35,00 49% 0 $35,000-$74,999 $75,000 or more H in th ispa enic low Aem r e tw ric o ainc ns om (Fi 20% g eur ge ro 28 ups ). w In cont eVarious re mror ast e15% , lik Aspects low elye t ro - a dn is of d Figure a g u the rpepee Plan, r tha - 66 inc t om the by e y Race/Ethnicity rw ee spond re treeant tes a d fc arir os lys e tha ac n Whi h ractee/e Atm hni er cic ita y ns ha, d no w Fi Ea he na ch o n com nc • ia f th l B H inh B conc la is e p ase a e p c ck r r a k e ing it g nic c ra a ns r rnd it nc ound r e A e a e rH m spond nd ia sis ,e ................................ w p w rb ic a e ill us nic a r e e ns b ine nt e m r s of a e ss a or g t ir m e e a e s 45 a tnd lik e he js or e . sc – ly /m sa 54 hool tm inor o w eb e inc e c ................................ rsour los e com itm ur ed or ce e e s a s ne e . of s b lik In a inc Fig e g eFigure ily a ng d om t ure d iv to it e im e ion, ly a p in r 48 g im or 70 reot te e p ................................ a ta he nt t irc ha e t re m b tv d y e a t he t nt y rhe ia oung yb tir ha le d a o s su n Whi e bnot rili B tc y la h a kt tcnow e o k s w w ................................ aa nd or or g w e k kho , e H trg is he se tp .o nde a num nic go r , tA b o m e m for r ae rof rit ic a g a hour l st oo ns ............ d a tts t ha ushe n , y 24 Than Saving for Retirement, by Age ................................ Figure Figure 10 73 ................................ 13% ........................................ 30 50% Figure 68 e ov ha p A ro m m e dp fe e r ha a a rsic ll, B sm si a ions a ze na lja o d l w c r fina k a e ne d r Ae d m g nc it a m e iona ia tr iv or ic l e a e a d l c ns im lik vis r p e it in e o a ly e rcr ; t ia ta y o on o cw h o b ur e he t he er f th n se mp eir tir e loy a e e b d inc k ili e ,ing r ta om y o nd r ta o e info B p sa g la rrofe rma oup v ck e ss A for tion s a m iona Figure Figure e rnd e ryic to l fina ir a H u e ns is m re 65 p 80 e c nc w ae nt nic e iv ia r . e e l a Thi A a m d m t s is v or w e is r o eor ic rk r lik a . e ;ns la L e re ik ly t p iv in t e re te o a she t ll e b o nt e r e B t a une w spond la tiv o ce khighe m s w p fro eor loy nt m k rs, t e e inc d y rs in t o . he ur om Bla tw op e c he o k g rk A c rlow p ou rm it lae e p c e r re s w ria ic -inc a w ns er e om e r e e more likely to strongly Comfortable or somewhat Retirement agree thatFigure r,eby Race/Ethnicity and tirem 21 e 11% nt savings is not a p Income riority relative to the current needs Figure 17, Confide 50%nce in Having Enough Money to Live Figure Comfor12 tably Through Retirement, by 43% Race/Ethnicity and expe •c tations $35,00 by0 r-a S$7 ou ce rc4,99 /e e: Em thni plo 9 ( yee cm i t Ben y 24% idd . efR it le Re esear tinc ire che om Ins of stite ute ) : a e na W d Gr chit h r eene a w acA lde R m /e esear etFigure rhni Figure ic cha 2c 0ns 2it 1 y R ew 55 tw ire e 76 m e rer e ne t C m m onf or or ide ee n clik elik Sue re vly ely y. t o to ha rev tir e e$2 a50 t y,00 oung 0 o er r a m gor es t e in haa n ss the ets t ag ha e n a ad pp dit roxim ion, 55 a the t– e64 ly B la ; one H ck ispa - p qop unic aula rte A r B t m ion te la of ce krr *ic eta nds ir ns eH e ispa a s a to ge nic b cs 25 reoss ^ m– or e 54 a ec fe w h o m erf th a ele Figure m Fig ,Figure e or w ra ure hil ec lik e es/ 14 e t 85 9 he e lyt hni tH o is c us p ita ie enic s fe this plt op c irtit ula w era t ion th ion sk s bettae e n th rw ts y ha os oung n e e a xpe ge ers 55 or c . tC ed onseq , le old avue ing ent r; o ly anly nd , Fi gure 22 Share of Black and Hispanic Retirees Figure 17% 83Who Retired Earlier, Later, or AmeA ric on, ans A r aie gl I ree nv de w stit m h th entis s, A s Confidence ta ytce om , B ent ank c oof min Doing p Aa m re ed ric w ait , h o a Good Bla Figure Figure Figure ne cFig Figure kRoc -ture hir kJob Preparing d 37 88 19 , 78 26 C of ap W ithit al G e rA oup me, rFinancially ic Ca olum ns. T bhe ia Th likreelih adood nee d of lea , g Erm ee ping owetr ha t deduction) Percentage , a hardship d of istEmployed Workers ribution from the pla Figure Figure n (a Who Are Offered w58 it90 hdrawal made a Retirement because of a 26% 89% Savings heav39% y and immediate Fi Fig gur ure e 62 87, , H Sha owr eD of o Re Rettir ireee es’ s W Lifest ho Re ylets C ired om Ea pr alie rer , W Lit ah Wh ter, oa r tW W he as E n P xpe lanne cted d, B be yfor Raec e R/E ettir hni em ce itnt y ................................ , by Ra 29% ce/Ethnicity ........ .... 60 45 SourcTop e: Emplo Three yee Percentage BenefiFactors t Research InstitWorkplace Retirement Who ute and GrWork With a Professional eenwald Research 2021 RetiremenPlan Participants t Confidence Financial Advisor Survey. Consider , When 88% si wg he nif re icaas nt B la diff cke A re m nc er eic s in t Percentage How aPercentage ns he in Valuable Is tp he er c highe ent of a of g rWorkers e Those ts w w Automatically o ho incContributing a om g and Retirees re e egdr ou tha Figure pts w Transferring the e to ir r74 e Who Report a Retirement p m aror ent e s or lik Retirement ely in 87% ta Negative Job -o laSavings Plan Who fe we s w l th Savings From eis re w ga ood y re a la or tt m ive a na to gW ing hitte he ir money. a t re he nd tire ir • w me old hent e t I fin w he n th r a p c a nt la rount nc t n e /n he ia p low el o ro 9 e e indiv 0rd % v p r e id a r d r-r e e ue inc tidua rts ( ;ir e o t om o Fi nlin m l w g ce eur hil nt e a g e s b d r ap oup d 51 c la v or aic nni ). rn in : e e B ne ng ola r te c ahe a k d dd s or vA v is Unit m ic oe e rs c re t hil ic ha tha dad ns St n B t su a p w t ro la p Fig ee e c s vrrk ie v d a ure is e A rm e m ion th g or us uid e 31 r ee ic a d la ik nc a ns in t n Whi eely b a hta gis o s et e s 65 or a e rd e g A p o re m o n e re fo t .tr ha ic rmula old atns ears ..s ;a 36% fina chilnc d ia or l e yxp oung erts a od r ult guru , the s in y the 40% Workers Adjusting Top Three Reasons Target for Retirement Taking a Figure Figure 33 39 Loan Age Since From a January Retirement 1, 2020, Percentage Change in Confidence of Hispanic and Black Workers Who Report in Having Enough Money to Live Comfortably a Negative Job or g t Fi w mo o re g oup w rru e e or r t e lik he k a nd 57 e w of ly le it W h a a tthe ha st hit ir n Whi lik p e rfa e ofe w ly m or ss ily t tk e o e iona t A b rha s in t e m n Whi m e l w ra ic he ho ra rins e tupp ha d e ta A o s e nd e m rre xpe e -p inc t rhose ic orr a om ttns is be e e .m ing rg ost erle oup 10% m vlik a or nt .e e ly tc o too t nfi he bd eir e si nt gngle oa ab lsout (aFi s w g the ur ell e ir a 2 rs ) e. te ir 85% Tw xpe em ere nt ie ny nc t p pe r e ospe rw ce or nt k c ing tof s si H w nc is itp e h house a tnic he A pa m hold nde ericm s ans ic. Financial Priorities................................ Confidence Percentage in Having Enough of ................................ Those Who Sa Money to Figure ved fo ................................ 41 r Re Live Comfortably tirement Who To ................................ ok Throughout a Loan, ................. 29 IncomeNon ................................ CO- VID Mortgage -19 Pandemic Workers’ Debt’s Expectations ................................ Impact Impact 32% on on About Working After Ability Ability Figure Figure ................................ to of Black and Hispanic 75 Participate in or 13% Retirement ................................ Contribute Workers to vs. to an ................. 18 w Fior gur ke er s e 38, Bxp la Pce ekr c c tae ed nd nt 40 %a tH o gis e re p W ta Extent irnic ho e Confidence ( Fi A Ag m grur e of e Retiree Behavior in Regard re e ic Retirees’ Tha a 61 When ns ). t . The Re in Having Enough Planned, tirrSources eem po er nt te d Sa by Gender m v of ings I Figure ed Income ian r s N Money to e 56 to Their tot ire and (Net Major/Minor a m P er nt ior Marital Level of ait Live Comfortably gye Re of la 62 Status tAssets, iv for e t o rSource), eC tur irere es w nt N ae s c ed onsi s, bst y ent across t ahis bout Iss 2 in ue H is B 10 r pie a r nic fe ctlosely e ir A em e Percentage Expected s sa e Confidence ricxa y aing ns m Plan and Percentage ine ait g e is s Spending vs. s 55 tof w he for in Social Security Continuing or Black -rse 64 Retirement, e the sponse tw ha e of Percentage and n e reThose s of m xpe Actual Spending or Hispanic e c Bby Race/Ethnicity and t la e lik Who d ce . kly a Who nd tSaved for o Americans us His Participate When ep ta his nic of to c Retirees, Retirement A rit Provide m e Who Agree That e rion th ricaIncome nsby Race/Ethnicity a ,Benefits n th ta Who Took Offered kiose ng int aof g Helping o ,eat s ac6c Least 5 o ount r old soe m re . of these key Percentage Who Have Ever Personally Saved for 14% Retirement, helping Ret ir freie m nds ent, and Fid He fa ow lit m y sily ati Inv sis fied ar e m stm ore e ent you im s, FI pw or ith N taRA the nt tFounda fo ha llow n sa 29% ing v tion, ing as Fig pects for J.P ure . r o e Mor 22 f tir your eg m a w e n, nt orkp L w eg a lace a s e l & G v re etir n hig eement nerh ae l I rs n avings for ve st young m pla enn? te Ma r (tna hose gem le ess nt than Figu •r e 83 L fin ow anc eria - a l ne nd Income em d) idd , ale n e -inc Change arom ly w Se eit B h lec ld aSince February r ca k ting w ra el fr t ir Inv eom eestm s w by Race/Ethnicity the er e en p lm a 1, 2020 t n (a or Op e lik tion we it ,ly hby Race/Ethnicity s, d tro by aw sa a Ra y l ma tha ce d t/E e ha b thn e ve fo icity no re and Income a ag ss ee 59 ts/ n ½ ott ha a28% ptp lic you abtle y ptic ha an Whi lly pay te media; libraries or commun Percentage a Previous ity centers Invest Who Employer to a ; chuHave Made Changes rc in a Target h/religious Current c-eDate nters o Fund, Employer Plan, by Race/Ethnicity r leain de by Race/Ethnicity Their rs; and Workplace other. Retirement Americans. Percentage of Black 4 and Savings Plan, Hispanic Americans by Race/Ethnicity Who Agree That They Were were taught Percentage how Percentage to savof e aBlack n Who d invAgree They e and st for Hispanic the by Ra futAre Knowledgeable ur 26% ce 10% e Americans /E tha thn n Whi icity te Who Agree That and HisAbout panic Am Managing erRetirement icans. 3 Throughout 0% Income Retirement Change Due to Since February the Pandemic, 1, 2020 by Race/Ethnicity and , by Age and GenderIncome by Race/Ethnicity and by Race/Ethnicity and Income Income w wit er h th e bor e sa n o m ut esi ad ss ee Retirement, of t le the vPercentage e l a Uni s t te he 77% d by m St. aIRace/Ethnicity tn a e Who s.d d Fi itAgree That na ion lly 77% t, o the t7% he and g se ende Saving/Paying com Done a rs mw on e 77% rc er it Retirement ee ss ria ent , for B iala lly c a Child’s 25% k e a vNeeds nd enly H is split p Education Calculation anic in e Aa m ce h r ric aa cns e/e w thni erec it m yor . e likely Fi Fig gur ur •e e 88 63 N, , ot Sha E- xpe mrae cr8 trof 0 e ie % dd B Sp lH a Non is c ek ndin p Work Due a aEmployer’s nic - nd Mortgage Debt g H A vm s. A isp eLevel a Problem of Retirees a rc ic nic to Child ta ua ns Re R l Sp Debt’s etirement atnd by Race/Ethnicity ire Actually ending eCare fe s Wh Impact ma le of o Needs, P B Re Re lan Doing So, lat Hispanic tc on ir ir ,ke e by a d eAbility nd s, b by E Ra aand Income H rGender y lie ice by Race/Ethnicity spa Ra and Black Americans, r,to /E c L nic e a thn Save for /E t eA t rand Marital Status hni m , icity o erc r ic it W y a an he ns Emergencies, ................................ d n P wInc ela re nne om mor de , eb lik y G ely ende to ..................... sa r aynd tha Mta trhe ita l 60 Change Through Percentage in Confidence Retirement, PeWho rcentage Have Ever Personally Saved for by Race/Ethnicity, in Having Enough Ve by Race/Ethnicity ry Satis Figure Figure fied or S 81 53 omIncome, eMoney to what Satisfie and d Live Comfortably Retirement, Marital Status race/ethnicity group Friends s, and Equal tand he ov an Family Is e to Those rEarly all distWithdrawal, ribut More Important Received Now, ion of theby retRace/Ethnicity ire Than by ment Race/Ethnicity Saving for ages was a and ls Retirement o Income and consist Income en,t by Age across these groups. Race/Et 3hni 0% city and ITo ncom wby Race/Ethnicity, ha e ................................ t extent do you agIncome, ree ................................ or disag and ree Marital with the fo Status ................................ llowing? 25% ..................... 31 demographic differences. Key findings a re: 9% a Eg xpe e A 55 rm ie)nc e B ric e la a c W k( it Lah Fina G nd IMA His )nc , pMe a ia nic l Se rc e Ar rm v , ic M ee rut ic s C a ua ns 58% om l o (p f A Fiagnie m ure e sr ................................ ic 37 a, ). NFor ationw exaide mp le Fi, na 56 nc ................................ p ia el, rcN ent ew of Yo Brla k cLkife, Am PeIrMC ................................ icaO, ns P arginc es 35 ipal Fina –44 anc nd ia ........ 51 l 33 Savings Plan Since January Figure 1, 2020, 61 by Race/Ethnicity Fi Fi Fig g gur u ur r ee e 18 47 14 r ae , tt C a ironfide x p eese.n a nc lty e for in Ha Taught ), a Investments vnd ing so How Enoug me ot to h M he Save and Invest for rone tythe pye tof o Future Lw ivit ehdr C,o 5% by Race/Ethnicity and a m w for for al o tthe arb d lyis Future Thr tribut oug ion as a h Re . tChild irem Income e,nt by Age , by Race/Ethnicity, Income, 8 A Note on the Figu Savings res Is Not a Priority Relative to Current Needs, by Age 10% 17% Fi Fin gu • anc r e 39 Lial ow eA r-inc dvic 20om % e e m an aled A Blacdvis k Amo err ics a ns were morFigure e likely 46 to have personally saved any money for retirement (not The list of reaso Throughout ns for retiri Is ng Reducing Retirement earlier tha Em Retirement n plo p Due to la ynn er e od ff eo the rs ff Savings, a ere rPandemic ed tir a e14% s m c eho nt by Race/Ethnicity and ic sav esof ings inc Black lud plan edn=8 the and 6 2foHispanic Americans, llowingIncome : You could afford to retire • $75,000 or Percentage more (upper inc of o Hispanic m by Gender, e): by Race/Ethnicity and Whit and Black Americans e Am Marital Status, ericans 69% were mand U.S. or Income e lik Who Calculated ely t Born o have $250,000 How or Much more in assets than W t o he pr • n a e fesk rC W som St e OVI or da k tae us D ing b -out c ................................ 19 onne w Extent it p the h a ac nde tirion ( n a em xp of d ic tv e hr Workers’ Expected is ns aoug or nd e s a w rh th e ho nd la t................................ is e espe ir d a he w ff nding 47% by Race/Ethnicity ili oa ralt ktp h conc ela d e cw xpe e Sources it ) h th e or rr ie ns n pe c e ir d e rsona e s................................ e of , cm raeg Income p a and Income l a lo se si in r ym d e rila e t he in som tir rit e ir (Net Major/Minor y e c s l tonfide o e at rhose w ge aly y nc ................................ : sa p e Br lin ha id ov aciding k the Avm ir ing Source), e spe the ric enoug a m nding ns fin ah mone a g nc w e................... s 25 aia s l a in line – y d 34 v to ic w e liv w . ee r Thi ite h 45 s Your parents had 68% or are 14% having a financially comfortable retirement. 45%67% 6% • White re 7t 0ir %e He ow s w confident ere more ar lik e you ely (tan o sa d your y tha st pous Soc e) ab ial Se out the curityfo is llow a m ing a jas orpect rela /minor sour ted to retir ce of ement? income in retirement than 20% What factor Retirement s do you cons Age of ider when Figure Retirees, selecting in 50 by Race/Ethnicity vestment options within your p Fie grur cG eent r oup 89 of , , Re HPis rtude p ira enic ent B ia A eh m l, ae P vr G ior ic Ia M, n in R s Rte he etg irse a erm dsa etnt o m Their e C le ag ae r inghouse s L ecv om el o pa f A Fig r, e 13% sd T. Ro sets ure wit, h 27 p w 16 be y P Ra ric e cr e ec, /E eU. nt thni S. of c Cit B ha y la ................................ m ckb A er m of er ic Ca om nsm ae nd rce35 , a p ..................... nd erc W ee nt lls of 61 • In the m Do idd you le- currently and Did upp 38% you work er rwith a professional etir -inc e om by Gender, eare lier gr tha oup n financial advisor? Workers s: Wh plaMarital nned, it Figure Figure e A ab m out w Status, er17 28 ica hen ns and w n=1,507, pla er nn e U.S. ed, m Retirees n=1,510, or or la e Born lik ter ely than to a pla Percentage grnn eeed? tha Yes t as a child or young earlier than and you Gp ela nd nn ere ................................ d; Wit You H hiave n ( yH ha our ow an d w/ or v y ha alu kof pv lac e ab the )e le a ret fo he w irllow em ................................ ould aent lth ing sit be to p a v w ro inork g bsle pm chan lan, you Figure o dr o if ges a yyour ou d is ha cur a 43 rpp rb etir ent ................................ ility ened ly ement hav , no e in t mpla re oney your la n te in hous savings vd es to ted ehold CO or w aV ith lloca ................................ ID since - ted 19; to. Th ..? ere (were/ha........... ve been) 19 Figure 39, Percent 10 Percentage a %ge of Black aof nd Black Hispanic and Am Hispanic ericans WAmericans ho Agree Tha Who Feel They t Retirement SavDo ings I Not s N Know ot a Priority Relative to Financial Adv including ice a nd Soc Does y Aia dl Se our vis c or Overal c urur s rent ................................ it y em l, or p how loy eer m confident of pfe loy r you a er-p ret ar rov ire em ide you ent ................................ d stha a m vinone t yo gs plan u y) ( an that thd your a an th llows e y s ou ir pous ................................ tfe o m m e) will hav aa ke le cont count ribut e ioe enoug ns rp from art your s h. ................................ salary 11%, 34 How has They the Need COVID to Save for -19 pandemic Totaland : Retirement Wor related kershealth n=1, , by Gender, 5 concerns, 07, 32% Retirees business n= Marital and school 1,510% 10 Status, closures and impacted U.S. your…? Born UnderstaB nding lack a w nd 9he 0 T% o H rw e is hat p to a ex nic go tent A for Tm hin is your e a Wh krd ing a ic v Do ich a ic non ns e bo you of .on - ut m the ortg thi y rour enk fo tag ir llow w e you e ork m de ing e pla w nt bt by ill do , ce if hav p Ra an la ret ing n an y, nin ir ce em ar y a g w e /E nega ent ork ra eas thn nd sav tfo iv ons icity w e r ings pa ha im y y pa ou pla t after A ct n(s took m on e ), y ry hav ic ou a our a loan ns re etir ab y ou a f ility e? r rom e ev tlooki o er... do? tng 7% he fo for llow in w ing?ho they go to for inc H ow lude eve s a r, d wvhe isor n s w retir ho eea s w reH e tave he re a sa you sk Compa wm orkp ee dad rif t a lace retir rc jed us he e/e ted w yt ith hni reement plan your t w ir cha it ey d t yo tar or ea u get rglie ex e?n r pected r P d etir t leas e ha r ement n p a e s t sw elect la he hen nne m ag you your ,d or e , a s firs w ince b top thr out ho t reti h Jan w ree a ed, he ve factors ua n p w ha ould ry la d1 nne a .s t, si2 m d0 , ila 2or 0r? la up te brr inging than p . la These nned , their • e xpe m c Com c o or tn ae for fid t ions lik ten a eb ly Whic for ly c e in t o t hr ov h us oug o e h e ne ra a Overal H 85% tY v ll hou his o ave H ou in f spe ow the g c (t ar an 85% r en l, nding ha t ifo he t e how y es llow doin ro of ir ion th the CO u the r, confident g ing e g/did hous h tir fo m be a e VID llow n th m )o ing s t represen e a n -nt 1 ing ey good ose ar 9e e pa y xpe to w e you ork a a nd jg r liv ns ob of s t e emic ts tha chan s 35 or e y ha e c s, spe o t yo pr ur be n t an ges o epar m u he d nding ( old hav forta its ha an ir ing health pp d your m e io f ra ; ened r ina bly tle w o Bhe lncia a su c an s in ount c pous n in k p d it c lly p r your A eco or eti m e e) will hav fo or t m e r p hous nomic r or r your e a em ic s r a the to sns ehold en . y r lp etir ef o e a t in fe ur a g enoug ement cts e fa le ss 35 ince c v m r eea ily l o h– f s 54 m as es e sw m w ee ts br ? it e e r h m in (w orhe ceo n lik me e ly to Do you 84% think How you confident will work with are you a professional that the Soc financial advisor ial Security s in yst the future? em will continu Workers n=1,065, e to pr 10% ov Retirees ide benefits n=1,023 Thinking To wha about Febr t ex ua your tent ry 1 workplace do yo st, 202 u 0ag ? Fi retirement savings (rP gu ee leas or di re e select s2 agree all plan(s), w that ith the app have you ever...? fo ly.) llowing? Fi gu • • •r e 76 L B N Aow la ot p c e -e k m r rsona r-ae inc rtr A T ir ie om e l, sa uch d e rg p s B et e r N a .ofe la D ot B s ac ala t inclu k e ss 4c 0 Fu A 1 k iona (Criteria Important nd m kr ), din e e (T tt ar D l a ir x g ic F) -e d -a Soc d e e Tns fe a v s w rirg sor rial ed et w e D e Sec ar : a nn r e tW e e ui m ur Fu m hit tyRetir or nds ity or o or e re 4 t e 0 y A ees: When Looking lik 3 pm lik (b employer ica e )e e , ly lly 4 r Black ly 5 ic hav 7t a , o tor o ns e sa tsa hr a n= - pr w ift y tay 3 re ov st g 6 aha tr et 1 vha e ided in , r t et H g m tfor sis ir ha p em tor pa mo he lan? v e ent a Financial Advisor nic e C ney, lik W no yOVI ea or n= ek ly ra er 3 ha in D ss 2 s t t 7 o he em v -e 19 e tus nam p s/ you loy e p not e ed atof nde (his or full ta he p - your sour m or p fund/i lic p ica , s a ra c tpous nv -b e nd tim le es te ha tm rt e) n= e ha ent n B la 1,1 n His t op 5e 6la d tion c he k p a A anic m lth conc e rric etairns eee.rs ns . The exact wording Im fr p om act To w ta pr he of ha q ev C ue t OVID ious ex st tent ionna employer -is 19 eir ach e Pa , w nd w ofho ere au the emic wfo as tomati llow b on e ing in t cally g he a assk A our tre b an ce dilit stfe he of yr rincome t ed o que Sa to y stve ion, our in rfor cur etir and ement? rR ent et th ire e sa m m en ple t, size of the group c Hha isp ng a Fa nic ersg a o A t .m yo eur ricc a1o ns Pe 0mp % a rce a gny, es 55 nta Ability to work the suc Confidence ge –h 64 aWh sa d g money o r o e we Ag ns d number of hours you iz he ree to liv in Having Enough ing lping , Tha e clos comf frt ure ie The ort nds oab r ir want/need re a ly Pa n othr d rg ren fa ough aniz Money to m ts ily due to childcare aout your We tion, ware G s m not ror Live Comfortably etir oo due eement d needs im to at p COVI or Ma or child supervision year tant na D s ? -t19 ha gin n sa cris g M is v;ing on Bec ey for au, sre e toirf ecm ha eng nt.e s in Figur •e 64 H, is Top panic Thr 6 0 TA % aken e m ee Re rWho ic a a a Loa sons ns Percentage n to a from g for Go to es 25 t he Re pla – tir 44 for ing n (t w Who Good Financial Advice he e Era bo er lie m rFeel They row ror Tha ed e lik amoun n eP lyla tHave nne to isst pd aid rong , b Not ba yly ck ,Ra by Marital or Bee w c e ith som /E n interes thni Tre ewcha ate tit ty hr Status t ................................ ough p d agFai reerly ayr and tha oll by t de Age reduct tirem ion) ent .................. savings is not 46 adult, they were taught how To Pw articip hat to extent do sa atv Wor e ein or a kers nd 80% you C w inv ontribute agree ho est say or disagree for tthey o an E the w m fut ill r ployer wetir ith ur 80% e the follow e ’s 18% tn= ha Ret 1n B ,3 irem 9 ing 3la 4% ent c statem k PA lan m ent? ericans 6% . 0% you C say uTo rren your the wtl ha 79% y con fo rt ex etir llow ement tent tr ing ibu do yo ar tine s g avings 16% mon hig u her ag ey r pla or low ee to th n? or di e r P er for leas seti ag re em ryou ee select en w now ith t s the a all ving tha tha fo n sllow t app you plaing nex ly. n? = pected? 770 5% Current Taken an Early Withdrawal from the plan (a Nee To ds, b what Have y extent is your A you ge ................................ mad To w e hat non chan Febr e -mortgage xua te ges nt ry to e do 1s withdrawal made t, y debt ith 2 o0 u er your 2Retir having agree 0................................ ? (P ees n= leas o w a orkp negative impact r d e before is 1 s,5 elect agree lace retir 10age all w 59 that ith the ement plan on your ability to do ½ that app ................................ foyou typically pay llow ly.) ing? contribu the tion following? a tax penalty for) or ........................... 31 70% Total impa : Wor of cted a money To kers t lea w your n=1, ha st eq t ex to liv c 5 78% Total onfidence u 0 tent a 7 e l , valu Retir comf : do yo Wor e ees n= ort kers to th tha Wor u ab ag n=1, t yo e ly 1kers r,5 b ee thr en 1 u 5 0 ough or di ( 0 , n=1, efits an 7 N , et N d your Retir s out your rag ecei 5egat 0 ees n= r7 ee ved b spous iv we ith r1 etir Job ,5 the e) will hav y 1 ement r0 eti or Income fo rees llow year tod ing e enoug a s ?? y? Ch 78% an hge It is more importan Cur t to rent help ly cont frien ribut ds ing an money d family 13% to the now r77% etirem tha entn sa to sa vings v pe lan fo n= r 3% your 770 3% own retirement. Fi b this ot gur h B he e la lp 90 cis k , Re a im nd tp iror e He per is ta p B nt a e sonal nic hin im av rior ly sa etp ir r in Re e v ov ed es w ing an ga e r y rr e Ar d e money te ir tm ye o ou c m or Their e e ur nt fo rlik ent r p re etir L ly rly St e e cont ro v p ement? te ng a o l o rr ibut ly a re A tf A ions in p gr g o / s ee r m N sets t, oney t ot so t ha , inclu tto b Somewha he t ty he he din Ra RC ry et ir c g ha em S eSoc t /E a d ent Agr sk trhni ial e s ee e at v d ir Sec in c e it g qd sy ue p ur e lan? a ity st a nd rion li or employer e Irnc s a t 2% ha om dd n p e re ................................ ss la -pr nne ing ovd t ided he (Fi se gur top e ic 62 s. Fir ). Fist .. ft , y 61 - c e Fionne xpr gureess c 19 ting ions us r, eg C ea onfide a or n o this r d si p les 8 m ini c 0% rnc ila it on) se of e r Thi rit ion th in Ha , ie nking a rs c a nd ca e o v a he r ab ing n th rya r out eth lt ov E o h ca noug se e your rn a tric o e g c h M employer's e it w ur os 65 or y rh r ent finan one . e dr For eent yt he a e told l o xa pla e se cial L xpe m e iv r n if/ indiv p ; e s le ns itu H C w , is o ati eidua hen in t p m s (s on, afor nic he you u lhow stc ah a A see up bm chan ly w ps Me e k e ould Thr r ric r- ged einc atoug d ns ir you ic e om j obs m a a h Re rg des e e ee nt ? or g s 25 cri rtp oup ir ins la be yo e– m nni ur 54 , e86 a nt ng ur w nc , ,p e lev e b r e w e y rp el it cr Ra m e h e of nt or m a c debt e ium e highe of /E lik t W ? s h e nic hit ly a rnd lik e tio t y A e d , us lih m eId nc e e ood uc rtic o his tm a ible o ns e f, , s, Savings and Preparations Not inclu ................................ ding Social Security or Wo ................................ S rke a N employer vet rs: ed Bl Ma fo ac rj or/M r k e75% n= t-irprov e 38 inor ment 0, ide Hi Sour sp n=2 d an m ce ,ic 0................................ o 5 n= ne 0 40 y4 , have you 75% (or your s ................................ pouse)3% ...... 38 Have Tota you l: W w by Race/Ethnicity or orked ker 74% s nfo =1, r pa 507, y sReti ince rees you n= retir 1,51 ed? 0 the skills a re nd quire bus dine fo Saving for a child's r ss y oa 2 ur nd 5-3job 4sc *^ hool or 35 y education -4 oc ur 4los *^sur kil 4e ls 5or paying off a child's Work s ne -5 no 4by Race/Ethnicity b *^ y lon ers g a R t 5 g w a iv 5e ho -6 ce/ e r 4ly ma ^ hav im Et tc 6e 5hnicit p hi or non a education ng old ct-e m job er d y ortg tand Income 2 a he re 5ag nd -3 is reducing ir q 4e uire * a ^Incom de bili me bt 3t 5y n= -4 nts how much t 4 1o *e ,5 ^ ;w 0 2% You 7or 45 k -5 ( you can save tw 4he ^ante num 5 d5/-6 w b 6% 4e afor retirement nt) r 6 of 5 or to hour old doer s t some hey thing want e/n lsee;e d You Demographi W fe How o el rkers Through know has ledg the C Retirement, eabl OVID e c Breakdowns - ab 19out Saved pan man Retir dby Race/Ethnicity and em for retirement n=2,050 ag ees n= ic ing an d savings 1 it ,5 s hea 1, 0 by an lth d investment a Rac n 73% d econ e/Ethn Ret Income om irees sic fo 2% effects r the icity futur e. 73% being asked are cont Aa sFinancial Services Companies ine a child d in e ora young ch figur ade ult . A , you lso, w * a Save for Emergencies ere nd tau ^ gh ,at how by re us Race/Ethnicity e to sa d to ve sian gnif d invest y72% thaand tfo ar the stIncome atfutur istice. ally si 3% gnificant 10 0% 0% Bor Torta the owed Wor l: W w kers or ay from ker : your Black s a n wor retir =1,n= 50 kp ement plan 3 7, 8 la 0 Reti ce , His rrees eti pa rnic em n= savings 1, en n= 51 t 4s 0 0, a ar 4 ving Perc , N e et invested sen N pegat la tan g e Ver W iv sin or e ker Job ce y or sJa n= or Income Somewh nu 35 ar 3,y Reti 1sa t, rt Ch ees 2 C 0on an 2 n= 0fid ? ge 30 en 5t Figure 58 a p riority money, relative did to Retir you the ement sa (c money or uryour rent v to liv s ing ne pous Total s e e d ise) per comf s of not a : Wor t ort she pr kers onal ab ior ir n=1, ly ity fa ly sa thr m relati ily 5 ough v0 e 7 t an v , ha Retir e out your y to the n th money ees n= ose cur retir fo 1a r,5 ent rg ement r 1 e etir 0s 55 or needs ement befo year of old s my ? efamily. rr. e you 71% retired? Black n=74 Wo1, rk er His s of pfe arn ed ic an n = em 73 p1, loy Perc er-spen onsta ored ge Some retirement wha savt in or gs Str plan on 2% n= g8 ly Agr 62 eein 1% g Figure 4 50% Black n=741, Hispanic n=731 Figure 23 Employer offersE a a rlier than pla retirement nned savings pla Retir n Abo n= ees n= u 8t 6when 2, 1 P,5 ercent planned 10 age Very or Somew Later than planned hat Valuable per Hsa onal ve Ay llou (o ly sa r v your ed spous any e) money tried to fo figrur re etir out ement? how much / N mot oney inclu you w din ill g need Soc to ial hav Sec e sa ur ved ity b or employer y the time you r -et pr irov e so ided that t Fi he gur su er 65 vey , W ask ore kd e 4 5rif % s A indiv djus idua ting Wor impa ls ker Ta ev 21% r s cted e g n= n know et1, Per Re your 50 fot 7, rmance/ ir c e Reti w m onfidence he e rHow ees Total: nt rgr e o A n= twth old o g Workers n=1,507, e 1, g wer tha o Retir 51 o S vinc er t t 0, 40% t yo o e you ees n= ime Perc e fin u Ja d (en an nua whe g 1ta ood Retirees d your ,5r g 1 n y 0 e Str you 1, 2020 fin s n=1,510 on a pous rnc eti 2% gly ia red e) will hav , l o orb ? Somewh r y rRa etir ce e e 30% /E m enoug ae t t hni Agr nt c p ee h it laynni ................................ ng 7% advice, and roug.hly 46 t d hr oing ee • • • • p so in erTheir W L Mid cow e hit nt cd e om e le rof e -r - m m e inc aB tnd p uni ir la om loy ece m tky s w e e idd a r c H nd o ee is le r nt r p e inf H -e a inc is r m nic or s a por om a m nd nic r ea e e lik t t ion th ir c B rhur e e e la ly e tir c s w k c e t o e he e A y s sa e sa m s rre e e y a r c id long m ic teha iv or a the ns e te w p a y lik w e t it rre h e w e sona rly tor e tir he t e m ko d : l r or m sa B e eor e la a t y r ir c lik e lie te k ha m c e ra om ly te nd t ha nt tthe m o H n p sa on ha y is v p tla v r ings is a sour a y e nne nic tto a c k d A in e e m c s. n a com r e m era ic a p loa se a jaor ns rn f e t/m he dw r o w iir e nor m rit a eh 46 p ss t m 43% he sour eor t p le ela ce v e lik r n (t e cof l th e ely nt he inc a tof n B o om bus or W la e r e hi c o in k t w thi e e s d p You lus (c ha ost d/ 84 c s for ha a rit nd e v pe re ion th ) d Ma r c oc to e 7r 0nt tit % c or a a To aof re l Sta n th or w B fo hat hospit la r ose tus c ae k s x ................................ A p a te a o m g nt l vi us ees 55 or do reic si Workers o y t as r ns o a u ano , nd eold a and Retirees who have non xthe nd pe perc r re 85 ; t e sc fami a ac rp nd ipti ely h r ................................ H c on o me e is f nt the pd mb ar of nic f uo e gH llow r; s) A is Th -m p ( mortgage ing Fi a e enic g rric e to ur a (A e be ns w m 88 e debt a re e a ) r g ................................ s/. ic o e ha n=1,507, H urce a s 55 ns ow ve o r b e –e e v 64 f n=1,510 p e e inc or n) r , w o t one e c e m h d re e a t ng -in ha m qua e ror t es tir t r ea he te ................................ e t lik m ry y e e o tw o ly ur nt? e one tr c o e o mp us c -t onfide hir e a n td hi y ,of s c nt suc r re a it h tb e ir a out r.e ion s 19 e s Figure 40, Perce4 nt 0% age A of llYH esis -they Wh pait nic etr ied to f A Blm ack* eric igu H aispa ns re how n W icho much A A llgremoney e Wh Tha ite*tthey Re Blatck ir need em Hispa efo nt r n ic rSa etir vement, ings I All s N Wh No itot - ethey * a Bl P did arck ion’t rit Hy tr ispa yRe nla ictive to Current Mid dle- and upper-incom Wo e rking H Black ispa with nic n= Wh an 7 a 4 A ite n=1, 1 dm , vis H e o is rr who ic pa 3 a8 nic ns 4 i,s Black a w n= ffe ilia 7r3e ted 1 n= , m P wit 7 ercent or 4h 1 e, y o H lik u is ag re pa ly e nic t Some o Wo n= ag rking 7r w 3 eha 1e wit , P t w ercent or h it ah th Str n a ongl d ag e vis st o e y r who a Y Aes tgr em eeing has ent ha t dha a sim t re ilatrirement savings is Figure 32 due to child care neBla edck s or n= c 74 hild 1, Employer His su pp ae nric vis of nion th = fe 73 rs1, a Perc a retir n th ement en eta ir gm e Some sa avings rriedwha pla count t n or n= e Str 15% 8 rp 6 on 2 arg ts ly Agr . 15%eein38% g 14% difference e 6xis 1 100 00 % 0 %t %s for Ma tjhe or Ne gg rou ativ Yes p e It mp haatct has Total Min the No Maj or Ne : , Wor indic but or I gmpa a fkers a tiv miliar with ae I tc or tn= mp . 1 Mino A a,5 c ll signifi t0 this 7 r I,mpa No Retir Impact cc ees n= tanNo ce I mpa 1 No tP e ,5 os s and 1t itive c 0 s a t not fa r Imp e a amiliar with t ct the No 9t Ap 5 p this p elica rce bnt le level. The two Re tirement Age ................................ 35% you can live comfortably................................ in retirement? / To prepare for r................................ etirement, did you (or your spous ................................ e) try to figure out how much .................... 43 41% 41% 19% 6 10 09 % 00 money, % % did All you (money or your to liv spous e e) per comfort sonal ably ly sa thrv ough e anout your y money retir for ement All retirement befo years? re you retired? Offered Retir a 33% Pla ees w n ho ga Cv oe ntributing M an age n= oney 1,3 7 When 5 Offered 36% 7 100 0% % 94% To what extent do you agree or disagree with the following? 1 80% 00% employer in some waN y et Major/Minor Source upbringing or life experiences as you 40% downsizing, closure or re 92% organization, a92% s a result of the COVID-19 crisis; The nature of your 76% work or risk associated with your r one etir-e thir es, db e ut it he the r rst 4e 0r %w ong T W a oh bu s no ite* lyy a orsi ho 10% som g me, nif20% c e icw a ar,nt ha or td o ther iff age Ma rre la ee jrg o nc d r P e e Yo w purc ro b in t it 9% ulem ng h th ha he er setha e sh st Min n 45% a a 5r 0 t o e e r P m trob ha ent t lem 5 rt 0 eha or tir O te No t d ld he er la t a Pr yt e 3% droblem o tha not n p kn laow nne 27% w 10% 97% dhe . Arm e ong to g 32% 6% o 9% Bla focrk g aood nd H fin isa pnc anic ial reported a t r t sour rtha he e e m he t tir ir ount ir n th se e e c r e m ee s e 1 ose e t t. 1 0 xpe ha ir is nt 0 00 e % % No n Whi p m ta ns a ha e g t id 12% Marr nt e en B s 65 or s b tp w a ied er la Marr c e ospe Le A k c *r m k e sw ied s e a thighe it old hc r 13% nd a h int t ic n se a . When $ H No rns 35 .rie 13% spa ,t 00 .tr Marr ha e Matches 0 y st nic ou look(ed n ied te hr r xpe Maj e oug yto ir oc ur r I eth p e mpa e risk t ) s d fo ., a ro a ce y lera tr xc profess oll $3 nc e 5,p Mino d 00 ete 0-$ for d ional uc r I 74 mpa su t ,99 ion) financia p 75% 9 cp t or tha 89% t No l of n Whi ad Ia mpa v isfa or t c m e tto ily A wm ork $7 m 9% e 5,e r00 ic m 31% 0 or abns er 91% mor 32% .. Thi e s held for each 9 690% 0 0% % All mon 6% ey you 88% needed 17% to hav 10% e saved by 58% the 9% time y11% ou retired so that y 78% ou could live com35% fortably in retirement?6% not a prior Niteye d re s, b 1 la 1 7 00 0 0 t% 0 iv % y % eU. to S. the Bor c nur ................................ rent needs of the Black ir fa................................ m n= ily 7 4t1ha , Hn Whi ispanic ten= A7 m 31 eric ................................ ans were in these inc.............................. om 91% e groups (Figure 32 • • Up Blap ce kr A -inc 1m 4 00 0e % % om rica ens m a arg re ies 25 d W– hit 34 e , wBela St re c ro km ng , or a lynd A egr lik ee His ely pa tSomewha nic o st A rong met rly Agr ic aor ee ns 94% som we Dre isa ew gr m ha ee or t ea g lik re ee ly ttha o tha re vteir 8% e pm ere sona nt sa lly v ings is saved a not ny a How has the COVID-19 pandemic To what extent and related do yo 34%u health ag34% ree concerns, or disag business and school ree with the follow closures impacted ing? your...? Figur • de iff 66 eI r, n e ent Pea rindic c ch inc e6 nt 90% 0% a atg om or eOveral s d of e M 63% g o E arried rm oup not p l, loy how : indic Be No la dc confident t a W k Marr t e or a nd a ied k e drH iff Total s Wh is ep ar re a : nt e Wor nic o you A si kers r A g em nif tha Off e n=1, ic ric e a t yo a rnc e 5 ns 0 d e u 7 a , w le (Retir an e R vre ee d l b tees n= ir m your e ut or m d e e1 nt iff slik ,5 pous e 1 Sa e r0e lyv nt 93% e) ings to cw a consi till e P 89% g la ha or n a dv e i53% ee rs w nd d enough eit tbhe hin t t o P te b he 93% re c e a sa nt pm a rob g ee g le W rm aho p h than Figure 20, Confide 90nc % e of 72% Y H ou isp do aTo nic not wh Aknow m at eexten ric w aho nst to go in Ha 72% do yo to f vu ing or ag good finan Ernoug ee orh M dis cial one agor r ry ee tetir 36% o with L ement plan ive th C e followin omfor nin ta g ad bg ly? v Thr ice. ough Retirement, by • Upper-inc 35% ome Whit Very e A Cm onf eid ric ent ans we Somewha re Wor mor kers e t C , lik o pla nf eid ly nn ent t ing o b to e rc etir No onfi t e To d n= oe Co 1 nt ,3 nf 9 tha 3 ident t88% they w No ill t at ha Av ll e C oe nf noug identh money to take 80% with, how important are/were t39% he following criteria? 87% work changed due 10 10 0to % 0% COVID-19, 85 % and y30% ou no longer (wished/wish) to work anymore; You or someone in 33% your household W The ork im pla por cet a Re nc te ir eof 9m 0%e fin nta nc Saia vings P lly sup la pns or t................................ ing family B lac and k n=fr 7 Bl 4ie ac 1, nd Hk is* ps a ................................ ni ac nd His n=pani 7t3he 1 P er c^ d cent esia re ge t Yes o prov ................................ ide 81% this support, whil...................... e laudable, can 47 80% 88% Marital 88% Status 88% 91% U.S. Born 15% 63% or retirement pla 10 9nni 0 0% %Tng o pay ad ov ffi c ce red , 60% 55% r it e cg aa rd r bill dleo ss r c of redinc it caom rd deb e or t rac87% e/ethnicity (Figur87% e 45). While there we 87% 90% re no significant Fi r eg tir u e •re es, t 15 In th hose e not low 5080% % Sou e m rr c B-a e lainc : r c Em r k*iplo e om d yee Ability to save for retirement because w e Be e g nr ere foup it Rm esear or : cW e h Inhit lik stitue e tely aA n d tm o Ge rerr ee nic w tir a ald ns e R ee sear w are of reduced cli hre e 2r 0 2 m 1t ha Reor tirn p ee m hours, reduced income, elik n 18% l ta Conf e nne ly id e td o nc e( s SFi t ur rvg ong e 79% y. ur 43% e ly 63 or or job changes ) . som Fi 23% fte yw -eha ight t a p ge re rc ee tnha t of t the not y- m fea erl ried race/ethnicity, as no 99 00 % % signif 54% icant 62% 19% differences emer 24% ge 82% d abou Fees t2% their 86% experie 35% nc 44% es v 45% s. expec 29% tations. 10% 1 70% 3 0 3 90 0 0 0% % % %You feel W 49% hite* you mo hav ney e been to live fairly treat comfortably ed by finan throughout cial services compani your White* retireme es an nt y d their ears? repres 83% entatives. 38). Middle-incom 1 50 0 90 0 % e% % Black Am Work eric ers ans and 31% w 34% e Black ret re ir ees als n= o w7 ork m 41or ing , 35% H eis w lik pa ith e nic or think ly t n= o 7a 3 ing o g 1r , e Pe ercent f w w ork ith th 33% ing age w is ith A st gr an a ee te ad m ve isnt or 35% n= tha 1,4 n mi 77% 4 34% 2 ddle 41% -income White p mrone iority y for 8r0e %la rteiv All tir ee t 24% m 3% o e tY he nt our (cnot ur parents r einc n51% t luding neor edin s of Soc -2% law 70% tia he s l Se are/w ir fa cur mit ily ere y tor ha goo e 51% n th m d pose at loymanaging e a r-g pers 45 or ovided their m old one e mo r2% .y ) ney tha .n their not-married having Pad riff tice ipa r 6 9e 0 0% nt t %e si Wghe nif n O icanc ffee r ecd om , bp y40% a Ra risc ons. The e/Et60% hnic it vy a st and maIjnc orom ity e of ................................ 35% si 53% gnificant difference................................ s a 26% re indicated by *. .......... 47 White A 51 0 m 0% 0% ericans. 26% 26% 5% 25% 35% 24% 25% (had/haveI )nc an om isse 3ue 5 8 a 0 %% nd thaU. t Marr w S. 59% a ied sB re orla n ................................ ted 28% to COVID 56% 66% -19; You w ................................ ere offered an early re................................ tire 27%ment package or yo............................ 75% ur employer 20 Figure 41, car Pe e rof cetnt 70% he air g eb W a 56% si ho c eA xpe g56% rens e e Tha s dtur Sa ing ving/P t45% heira rye 40% ing tirefor m Workers n=1,507 79% e 74% nt a Cthil had n 40% ’s E Bladcuc k A at m ion I erics Re a 50% ns.d ucing Retireme40% nt 5% Savings, by Sou 70% 9r0 c% e: Em All plo 41% yee Benefit ResearcM h In o stre ituteCo andn 41% Gr fiden eenwat78% ld ResearchU 2n 02c 1 h Re ange tiremend t ConfidenceLes Su 58% rvs e y. Confiden 83%30% t 83% 58% 29% also • • •ha ve H Up Re is ap p p n re a e ernic sent g -inc a 9 t 7 0 6 r iv 0 % om 0 e a % % e ttir iv im e ee e B s fr p s w la ac 89% com tk e on ra e nd t he m a or H p ire is e w r p son’s a lor ik anic e kP ly percenta la A t27% c o b m e ili sa er tre yy ic ge t tir a t 73% o ha ns e Sa m sa y t w e ing v pnt e e er V r a e sona p ery nd la m o n p or p rl r S ree r om e o p lik tv a ir ew ide e ree ly m hat r for t e : o nt B Importa ha tla he sa cvk ir v e ings is a 43% ao nt tnd a w kn lo eH n a is79% ng p m a loa -nic t ae jn fr or r m A/m m ofin m e inor r a ic t 32% nc he a ns sour ia pl se la wn (t c ec e rur e of he m ity inc or . Fa e om lik me e ily ly in • • T W h or e w king ea 60w % ltit h h a A gap bet ll n a 9%dvis 44% w ore 59% w en 14% ho W ha hs ha it 57% e Am 62% d8% 18% a eric sim 10% ila an r 7% supb a 6% 44% 32% nrd inging Bla 29% c k or or life H is expe pan riic enc Aem s a 44% eric 77% s the anm s : rB em la 13% ca kin As m eve erica nns a sa ges 80% 87% Total 32% : Workers n=1,507, Retir 14%ees n=1,51 45% 0, P 76% ercentag 32% e 76% Disagree 32% 35% d Biff lac ek r ernc etir es ove ees re ra t 3ir 0 ll, not % ed ea -m rTlie oa cr ro rti ve ha er ano d 86% n p Bla ther la ck nne emerg Am dTotal e c renc om ica: yns p e Wor a xpense raend 35% d kers w yit ou n=1, h 45 p nge 5r0 e 7 Br , lc a Retirees e cnt k a 59% of nd those H n= isp 117% ,5 am nic 1a 0 rA rie 20% md 89% e.r A ic 12% asi ns m ila we r rd eiff m eor ree nc lik e eely m t eo rgnot es for knowled 8 9g 0 0e % %able about 37% managing their day 27% -to-day37% fin 58%ances t Alha l n Black a 88% nd H90% ispan85% ic Americans 10% . Plan Changes & L 9 8 8 98 0 0 0 0oa 0 % % % % % Hins spa n................................ ic 28% 28% Per 84% 38% formance/ Total 40% ................................ : Wor growth kers over t n=1, ime507, 70% Retirees ................................ 70% n=1,510 ................................ 31% 26% .......... 52 Americans. How 6e 08v % 0e %r, All in the lowest 29% incom30% e group 48% s, there w32% ere no 55% 55% 39% signif40% ic4% ant differenc 83% 28% es by55% race/ethni 45% 7% 82% city in the counter 1p 5 4 00 0 0 a % % % rts. 47% 34% 9% 43% 28% 11% 11% 6% 53% incentivized you 7to 060% 60% 9 % 0ta %ke a 42% n early retireme 29% 44%nt; 54% and You 51% had 73% an 33% other work 14% -related reason. 32% 54% 55% 49% 33% 44% Appendix 2 a 20 t %the end of the report det31% ails the 30% e55% xact signific25% ant differences in eac 43% h figur 35%e indict52% ed by * and ^. If 1 80 00 % % 54% 71% 36% 53% 17% 84% 4 60% 7 00 % % 48% 77% 35% Race/Et7hni 8 00 % %ci60% t29% 70% y and 63% Income ................................ 76% 49% 49% ................................ 49% 46% 48% ................................ 76% ..................... 32 40% 52% 63% 66% 75% 52% 59% 50% 41%75% One and • fr q ie ue nds st r in t 25 b Bo e or la ion th tc – us ir c w r o 34 k e ow m e e m a rt w e r e e nd e a 1 his d 8nt 0 e tp 0 0 % r is ha a a % H esour tr m es ha is ts v m ic ount p 38% .n B or ula a e c L nic e e xe ow r la Bly lik tis la d ha c A e c k e im p m p r k n Wh ly -a olic r e p e id a rtt or n ic o ir y b d a t e m us it a a ns e m c e nt a se k idd k .A w e t w for m his rele it s a r e h int e - H rinc c ic nd m is r 25% a it p or om ns e e a arre nic na ion th .e e st lik ly B A e tst la hr m ly s is a ce oug k n th tr o iA chow sa m a h p ose ns e yr , a 73% ic t rha y a a e a 37% rs t g tns oll d tir 16% e e he ts 35 or he w es w e y e d 30% r C 38% te uc e OVI B ill nd la m t old ion) c spe or kD to e - end 19 rp t lik ; ha la B e p d cln Whi ly a ow a e 46% nde c a tkn th o 17% highe Ar m tm eeic e p eir A o ra 52% r ic m ra t nd a v ss e sa a ns re lue ic rve t a ings o 51% a s in r la ns gon te e.s 35 d he e f le he tir lping – a ess 44 lt mh e t ha w nt fa e. n m rei ly Figure 67, How Re 3 2 80 5 6 00 % % % t % irement Savings Plan Participants C 72% hoose Their Investments, b 7% 8% 51% y R7% ace/E 45% thni 7%city a 7% nd 68%Income ......... 48 k Fi Anow g siur me ila w 21 r he p , ra C etha tte o rnge n g 5o 50% 0 oc % for in C c Tur o bu a s onfide d yw v a ic it ho h e me, nc c dom ee 61% b c t 67% a in Ha p ,r, a a or rs B e odv ther ling w acit la k h ma 25% E rg anoug e nd purc rH rie h M is ha 54% d p se aB one nic lac y k A 55% m tA o m eL re ic iv ra e icns a Cns om w e afor r nd e tm a old b or ly e e 71% rThr lik Bla e oug ly ck ta hout o nd consi H Re 37% isd p te 44% ir arnic e d me e A bnt tm te D o rue ic be a ns ta o ,m t he aj or or S Fi His avings gp uarnic e 40 re t ir and Pre ees b 8 50% 0% y mapar rital s at taions tus — 63 percent vs. 43 pe9% rcent, respective 10% ly. GeB nde lackr * differe Hnc ispa enic 39% s a ^r32% e 41% present among 7 70 0% % Wh White iteFem6% ale 10%14% 64% 13% 55% 11% 10% 7%6% 80% 39% 5% Figure 6 8 77 7 0 00 0 % % % % 44% 65% Strongly A 53% gree Somewha 43% 65% t Agr 12% ee 70% 47% 78% likelihood of agr 8 4e 0 0 7 9e 0 % % 0% % ing tA ha ll t ret61% ir 59% ement sa 37% Matches vings is no your risk t 69% t ao 69% lera prio nc 49% rit ey. Ag 14% ain, youn 44% ger Black (ages 25 5% 35% 45% –34 8%) and 5% Hispanic (ages Fi 9 gure 24 15% 47% 11% 45% White 62% 96% 35% 4% no such indic 2 35 0 8a 0 % %t % or is present, 37% the 8% 16% results are not statistically significant37% ly different. The percentages in the figures Sour ces of Incom 57 0e 0% % in Retirement ................................ 57% 18% ................................ 26% 67% 7% 27% 44% 63% 57%11% ........................................................... 67% 56 The list of facto 6rs 0% 5 0o %ffered 19% for choosing inv41% estments includ21% ed the following 6%: Performa 23% 14%nce/ 14% g 66% rowth over time, Matches your risk 1 7 40% 9 0 00 % % % 58% 16% 26% 15% 70% 28% 24% 29% 18% 43% 53% 29% 8% 7% members ove conce rr sa ns 40% 6v 0a ing %nd for 57% bus tine heir ss ow and n rsc ethool ireme cnt los . ur Fu ers ne therg m aor tivee 60% , ly w im hilp e 35% 60% a not cte d a tm 61% he air jor a 9% it by ili, ty b ot to h B wor lak ck 51% t he and num Hisb pe arnic of rhour espond s the ent y s Thu Figu s, re the 33 $1 m RC or ,000 e S lik a 6 sk ce 0 9 oly % 0e m %d tp o raer us teird e e e w this s w ith Whi c ha ritte b tre ion th e st A m re ep a rn th r ic ea sent ns ose . s t L ik ahe e g 60% w eir s 55 or is b ee , ha the v ior old sh e a wr rhe ; e H w n it is itp h th a cnic om e e A highe s t me o ric tst he a ns a irm le a ount 32% g ve es l o 25 of f a – a 9% ss 44 ssee tw ts. The s ($ ere25 m r0,00 e or w e e lik 0 o ree ly r minor problem fo 50% 5r0 % their household than White Americans across each inc 54% ome group (Figure 4). In th 54% e upper-income r Heis spe pac nic tiv e rP e ly a t ir nde (e Fieg s b m ur 7 70 0ic % % e ut , T o 46 b pay not 58% y) . Ra o afc m f e cong red /E 46% tit hni cB ala c rdit c bill y k a r oe nd r c tir red e Inc e it s, a com ards 60 p e deb ................................ t er36% cent of female H................................ ispanic retiree 23% s report................................ ed retiring earlier than 20 Fi Fig gur ur ee 4 59 2, Percent 60% age of Black and Hispanic Ame 37% rica52% ns Who Agree Tha21% t Saving/Paying 21%for a Child’s Education Is 4 2 8 6 5 0 0 0% % % % 20% 38% 58%33% 12% 69% 61% 61% 15% 25 One –44 of ) tA he m e m ric ost a3ns 0 7 6 6 3 30% b 6 6 0 % 0 0 5 0 0 % a % % % w % %sie cr e ta m skor s of e lik re etly ir etm o e ant gr e p 56% e la tnni hatng sais ving doing for 51% a re rte irte irm em ent ent is ne not ed 31% a s c pa rior lcula ityt ion. relatA ivs e a to wold hole er, w only ork e ha rs ( lf r Fi eg pur ore t Figure 68, Perce 5nt 0%a Wg hite W eh iof te Tho27% se Contribut 39%ing t45% o a Retirem Fees ent Savings P 36% lan Who I 31% nvest in a 25% Target-Date Fund, by tolerance, Fees, R 6e 0% cBl oa mm ck 26% He ispa 45% nda nic tions * of 26% a p 38% rofes 24% siona33% l fina 47% 67%ncial 30% advisor, Easy H 45% ispa invnic estme * 62% nt tha66% t a 31% djus 5% ts fo 6% r y44% o 5% u based on age or may not tota 20 l to 100 p % erc 36% ent due 63% to round 37% 47% ing 12% a 31% nd/or 9% 6% missing 45% categ31% orie 30% s. 27% Figu • •r e 77 Onlin Whit ee ra ed 30% 7 tir 0v% e ice es w or eard ev m is 22% or ors t e lik haetly p rtov o sa ide y g tha uida t anc n I eRA ba sed is a on majfor or/m mula inor s: sour Hispc ae 46% nic of 64% Ainc me om rice a ns in r w ee tir re e m me or nt e tlik haen B ly tla o cus k e 4 20 0% % Male53% 32% 50% 66% 15% 43% 43% B66% lack 43% 93%42% 6% 6% 70 68 % 0 6 0 % 0 % % 19% 50% 46% 56% 38% 42% w Re me ini trir e m •e m e a l d or Em w Up txpe o e iff a or us p lik nt ee e c r/n e e te ) ra - ly nc w inc t 5 e t2 his ions 0 e 5a 0 5 te % 0o 0 % d % s m om s % W c sa d by r hite a 46% ue e iuc y tnd ,e r tU. r a h hig the ion th o c ES. e xpe y c/e - a a b he rtr e or hni ra e ie g rn th n His iv c nc for count ing itey ose s W . p for ................................ The ing a hit nic a e g som on e d A A s 55 or iff m m fin e e e e one rrra e ic ic nc nc a a ns ot old ns ia es fou l supp he tw eha rre ; r tn for nd a ha end or m ................................ n w t or H a e fr B r is e la om c 38% 63% e hil p l cik m a k d nic e fa ost or ly tm ha A ly t H ily 55% o m n Whi is d st 29% e p a rr iv a r nd ic ong nic ea tn b 46% fr ns e ly A ie A y m ................................ a nds, m or g B ee e r la som ric s 45 ic cinc a k ans ns r e luding – e w 54 for .t ir ha e w e t b s m e ot a inh rge h mi r or e e m e re it or d t a ha oft d .................... e nc le lik te e r n sa a s, a e e nd ly tir s a e ty upp o m ing n us ee nt e r 59 20% 8 0% 0% 18% 18% 71% 32% 16% 31% group • , 62 In e pea rc ce h inc nt 60 % of om Bla 73% e cgkr oup Ame : rB icla ac ns k a and nd H 58 is p pa enic rce nt Am of eric Ha isns pa nic we rA em m 32% eor ricea ns like cly onsi t35% o d a 39% e grred ee d tha ebtt d ae p brtob isle ne mg c aom tive ply a red with planne • d L com owe pra-rinc e 54d 00 % om % wit eh jus 53% Blactk 43 Am pe erric ce ant ns To of m we am r ke end ea le m or H s m is eeet plik anic ely rte o tir be ee cs, onfi whe dernt ea ts 55 p ha 33% t the e 18% ryc e ant r16% e of doing fem/d ale id B al a gcoo k r de t job ire eps re ap nd ar ing 50 Reduc3ing 5 4 0 6 70 0 0 % 0% % % %Retirement Savings, by Gender, Marital Status 43% , and U.S. Born .................................................... 33 ha risk v ing toled ra one nce ,t his Inve 5 b 0sa % tme sic nt stema p — tc he figur s 38% a ing wellout -kno how wn ind muc ex, h mo It’s ne the 32% y etmp hey loy 38% we ill r d ne 17% 25% efaul ed tt o o 17% 17% p ha tion, ve sa Re vceodmm b 32% 50% ye tnd hea 32% tions time t fro hem y r ae frie tirend so or 39). Specifically, 40% 5 20% for 5 0 40 % 0% % Black Americans, those ages 25–34 (54 percent) were more likely to ha22% ve agreed with this Race/E6t0 hni % White city ................................ 46% 31% 47% 33% Perf 47% ormance/................................ gro37% wth 9% over time 28% ................................ 11% 37%11% ................................ 42%42%7% 44% ....... 48 Figure 22, Change 50% in C Blaconfide k* 41%nc 81% e 38% in Ha 50% ving Enough Money to Live Comfortably Throughout Re 37% tirem7% ent Due to the 2 14 10% 0 0 0% % % 25-34 29% 35-44 45-5 42% 4 55-64*6% 16% 65 or36% old 32% er* 36% 35% ^ • a t Ihis n th nd sour H eis low p 56 c 0 a 0 % e nic e % rt- ha inc re n Whi 52% tom iree es tg .e 52% r oup Ame : rW ica hit ns e. Americans were more likely 56% to strong30% ly or 33% 16% som 33% ewhat agree that they feel 35 00 %% 24% 46% 31% 54% 31% 38% 48% 30% G iven that so ma Hny ispa d non’ ic t know w 56% here to go fo 43% 20% r retir 11% em 9% e 34% nt 4% planning help, it is 59% useful to understand what people or inc om • e sour Midd ce le - in r 2inc 0 57 % 00 % e om %tire em W ehit nt. eThi Am s fa eric m a 28% ily ns e w m 38% e29% p re ha m sior s e m lik aye p lyoint to atg o rfin ee atnc haia t l p t28% he la ynni hang ve or enoug 62% prod h sa uct vnings to ha eed38% s, likendle life ins an urance, that the q t inc sa his ue vom ings is st crion w e its. e 5r 0 ion th %not as not 26% a 31% a p n th ra 25% ior pp oitlic se y a ra b eg la le 39% et /t s iv he 65 e y t o or dtid he old not c eur r 49% .ha rent ve ne ane y 26% d a s of ss Hispa etts (2 he nicir4 p fam erily ce nt tha of n non Blac-kU. rS. etir -b eor es sa n His ying p 20% anic this A m vs. 14 ericans. 37 perceim nt p of acW ting hit 4 70 0e % % the Am ir e arb icili atns All y t . o D 48% sa ebvte 34% b for eing r 24% ectons irem ide ent re /ldiv a e p cr om obfor lem ta a bm lyong in r e Btla ir Alle ck m a end nt 39% 79% tH ha isn Whi panic tA em Ae m 39% r 31% ic eraic ns ans ha . d no fami percly ent , R of eco m ga niz lee 4 3 0 B 4 6 / 10% 0 0 % 0 k l% % a % no ck w r the etir e na es r mee toir f efu dnd e Ta o / m r inv lie ae ke end r sttm ha22% e n p s nt meet la 38% conne mpa d 41% ny, . Inve 41% stment is actively ma 10% naged by a fund manager, Matches financia 6lly 0 3% 0% B No for lac t k Marr t *27% he 51% 5% ied ir 39% r *etireme 21% nt than Hispanic 63% Ame 14% 22% ricans36% . 74% 18% 35% 28% 21% 3% 36% 33% Conclusion ................................ 3 40% 0 0% % 32% ................................ 39% 30% 42% ................................ 17% ........................................................... 62 t st ha atte tm he ey nt c a com n liv pe a 3 1 50 5 0 r% % c % eo dm w for ith th table y one in r 30% e -tthir ir43% ed m of e 50% nt t. hose The a lik g 14% e es 45 30% lihood or of old de oing r. The this a 40% p cp a 27% r lc oxim ula 39% tion ately di d one go 41% -ha up lf of with inc Hispa om nic e , Ab m ut e rw icit ahin ns • Lower- 44 a 1 0 40 5 4 0 % nd % 0 % % % upper-inc 13% ome38% Blac 38% k 41% and 43% Hispanic Americans were mor 41% 29% e likely to have take29% n a hardship distribution 45% 40% 10% 39% Pandem 50ic % of B 33% la40% ck and 33%Hispanic American 55% s, by FG ees ender, 28% Mar9% ital Status, and 24%U.S. Born ................................ 21 40% Hispanic* 42% 32% 62% 37% 31% 3% 12% 7% Fi Fig gur ur ee 4 16 3, know Perle cednt g 0% e aa gb el e W aho bout Fe 43% e m l The anag yi ng Hav sa ev 38% N ings a 38% ot Bend 22% en Tr inve ea st te m de Fa nt49% s for irly b y the Fi na futnc uria 30% e l Se tharn His vices C panic om p Aa m nie e 43% rs, b icans y .Ra ce/Ethnicity 30% 45 0 4 0 % 0 % % 45% 37%31% 46% 46% 25% groups Americans 3 1S 2 0 5 ou 0 0% % % %d rco e: Em us 32% plo eyee as Ben sour efit Rec sear e42% s of ch Institinf ute aor ndm Gre a et nion for wald Resear r ce h 2t0ir 21e Rm etire em nt en tp Cla onfnni iden 23% 33% cng. e Sur veThe y. top three sources of information were p y Fi wo e ill g ur rur ca ev e nd nt ie 69 w of e es, st m o P H a e n e is trr e g s p c o e e p ac nc nt nic 4 la ia 0nni % a y l g a ror e e nd ng, t ir W su 0% e e ho nvi or e ds d re c A a o olle n r nd nme 20% e 58% la C g 10 ronfide g e nta e sa p e 40% l ev xpe c rings a c ant e us nt ns in The e s e 60% of ,c tOthe cha W ount ir hit n B rA 80% ,e s b la . ar ili nd I c ettk t y ir a No ae 100% ls tnd o e o ne s) Ce H hoose xpo ( ois Fi f p the ga ses ur nic stee he a .89 A r m Right is )e . krN ic te o a a Ins rr nv e ly t.ir e 4 in st em mee 10 nt nt s for secu Whit 46% re Their it a y nd 41% for 27% 34% Sit H tis hose ua patnic ion, w ho re btyir e e xp es ect 46 00 % % 50% 34% 35% 35% si gnificant differ2e 0 3 56 nc 0 % 00 % % %es across gender, marita32% l status, and 25% whether 24% the 0% y were 20% U.S. b 40% orn 33% (Fi60% gure 5) 80% . 30%100% 3 30 0% % To buy 29% a home, car, or other large purchase 24% 28% 30% 25% 42% 34% 43% each income group 3 20 0% % , the likelihood 23% of doing so for 42% 33% e 23% a 23% ch race/ethnicity was 46% only significantly different in one of them young • • er H fr L tha ibr is om p n a aa rtnic ie he g 3s o 0 e % r p 45 e B rla t la ir c n (a c om w e ke ho s w m w a uni it e ghdra rre tey em d cw e or w nt ae it le h r m lrik sa e : 43% e d ly tB e ir la te b o c m e ksa c e a a nt y us nd tsa e ha H of vt is ings not b a p an I a he nic RA a A v y m is e a e aing nd r ic m 27% aim a a ns j or p m w r/m e io e drrinor ia it ey t m e w 40% 33% or fin sour as highe ea nc lik ceia e ly of l ne rt 30% inc o tha eus d om n th )e t e ha t his e in r n Whi 3 in sour etir10 tec em e A a e tm g ha nt ee s 55 or n Whi t rha ican nst.e Demographic 10 4 33 0 % 00 % % % s 50% 31% 32% 42% 21% 28% 14% 35% 50 1% 0% 31% 52% 44% Appendix 1: Method 40%Rolog ecomm y ................................ White endations of a professional f................................ inancial advisor ................................ White ................................ 29% 36% ...... 63 Figu •r e 41 Bla a nd ckI a nc 3n 0om % d H e is ................................ A Marr lp l aied nic Americans w ................................ ere m 27% 38% ore lik 10% ely to co ................................ nsider debt to 24% 8% be a ................................ 24% m 34% 18% ajor or minor probl .......... em 33 Figure 52 10 M 3 % 0 ar % ried Singl 17% 51% e, 44% never m 29% arried 42% 46% 41% 34% 4% 10% 2% 2% c Fi onsi gur se te 7 nt across 3 0r% acia 16% l/ 36% ethnic 16% group 16% s 14% : online resources and research they do on their own; 54% fa 29% mily and friends; and a W hen askRa edc a eb /E out 3t4 0 hni 0 % %the cit yr e aa nd sons Inc for om r ee ................................ tiring earlier than planne ................................ d, the same top thr................................ ee reasons were cited..................... by retirees in 49 sa 10 or Fig id du etrp he e e nd 25 y tr on y to fainc m 2 2 3 40 0 0 0ily % % % % re a ase s at he sour ir c le ev of el of reta irss em ete s nt 35% in r inc e 45% t om iree m teha ntt cm om ay p a bree d le ss wit rh 3 eliab in 10 B le or Yes pla re cd k No ic re ta tir ble ee . s. Across all races, Figure 23, Confide 20% nce in Having 15%Enough Money to 37% Take C31% are of Basic Expenses During Retirement, 31% by Race/Ethnicity 20% 1 30 5 5 00 % 0 % % % TB o la pay ck off cred 23% it 46% card bill or credit card debt 34% The list of pote1ntia 0 2 0% 0 %%l improvements offered as choices includ20% ed the following 22% : Be 17% tter explana 16% tions 25% for how much income your 20% 29% 23% 13% 23% 28% 45% 22% 29% 23% ( old Fig eur r a eg 52 ree ). ing. His p For anic H is Ap m ae nic ric a Ans m ew ric ith l ans ow we ho r inc we om re ebs w orn erin e tm he or Unit e like ed ly St to a 22% t re es p, otrhose t having in the done upp t 31% his er- inc ca39% lc om ula e tg ion roup tha w n W erehit e Figu •r e 34 A Up Bla m p c ee k rr ic r -e a inc tns 1ir D 0om iv e % ; oeB rc se la e. d o H ck irspa sepa Am nic re atred ic Aam ns e r 31% w ice arns No e t m m wor arr eried e e lik m , livor e inly g w e tlik ith o par e us ly te n t er o this sa y sour thacte t he tha C n OVI HisD pa -19 nic pAam nde eric maic ns a. 15% nd related health 32 0 20 2 0 % 0 % % B % lack 12% 46% 47% 14% 44% 38% 19% To understand d 20 3 iff 0 %% erenc 16% es by rac 39%ial12% /ethni 41%c groups, v 7arious 7% d8 emog 18% 42% raphic 28% breakdowns 10% a 20% re outlin 11% ed b4% elow. First, 64 20% 44% 45% • for Midd th leeir ho -inc 30 2% 0om % u es H eh isp oa ld nic th A am ne Per Whi 15% ric foa rmance/ ns te Am wer gr e eric o m wth or a oe n v er t s lik , a ime ely cr to o ss a gea r 43% ee c h tha intc to he mye grou have e pnoug . 43% In th 34% h s ea upp vings to ha er-incom ndle e g ra oup n , 62 It follows then th 2a 0% t B W la hic tek and Hispanic work24% ers and 35% retirees were more likely to say debt is impacting 1% their ability to e pa ec rsona h racl, iap l/e rofe thni ss 10 cion % 2 g 0% ra oup l fina but nc ia in a l a d dviff is 32% e or re (nt Fi g or ur 53% de e r47 (Fi ).gur Wehil 64 e ). sm The all sha top re ts ove hree rraell c asons it 41% ed w lib erra er ie tha s o t26% rth ce om 3% y 2% cm ould uni ta y ff cor endt etr o s and A ap pp preoxim ndix a2: Figur tely 4 in 42 0 3 20 3 % 0 0e % 0 % % % 10 Sta sa t11% isid ticta he l Signific 11% y try to anc ma eint Ke ay in t ................................ heir asset level, 39% and ................................ just 5 per24% cent said the ................................ y spend 27% down their a........ ssets. 63 savings wilal nd proId nc uc 1om 0 W e % i din oe w re e ................................ dtirement; More fund o................................ r investment options av ................................ ailab27% le; Better explana................................ tions for whether you a.......... re on 22 2 0% 0% 25% 25% Figur •e 44, Mid Pe drle c- einc H nt 4 5% ispa 0a om %g Tnic o e bu e F *of em B y a la B a 6% le* la ho ckc me, k A m a c nd e ar r,ic or Ha is 25% o ns ther pa w nic la erg r 7% e A e 9% m m purc e or rha ic e a se lik nse ly W ho to ha Fev ee l The take yn a Ha 70% v ha e rB de 24% sh en Tr ip dis ea trtibut ed Fa ion fr 47% irly om by 23% 33% Fi the na nc pla ia n (a l Se rvices 24 1 00 0 % % % Blac 34% k 24% 60% 38% 26% Black* 34% 15% 6% Americans (32 pe1r0c %ent 33% vs. 22 percent 20% ). Among Black and Hispanic Ame20% ricans, those 16% both married29% and male were more Fi mg or ur e •e lik 70 ec Ily , n e onc Top to aeca r h inc ns Thr gr eae end om ew Fa it b eh th us cgtr or ine oup es Wor ss st : aa H tnd e is km p pla e sc a 18% nt nic c hool e t Re ha Am c n t tir e los rehose ic m ur ae ns ent s ne b w P or e la g n rn e ao tP m iv ut ae o rsi ly r tic d e e im ipa lik 19% 19% tp he e nt a ly c s C Unit tte o d onsi 19% a e tg he d rd eSt ir e e ra 58% a t ha tW beili s he 28% tt y (sa Fi n Se t 61% v o g 22% 22% ing ur sa le ev c for e 40 ting fo )a .r I crnv hil ete ir dst ’e s e m me e dnt n uc t a b Op teion o cta ion usrs, b e of y • Lower-inc 10% 5% omeOv H era is Social Sec lp l exp anic ens es/ Aurity m spen edi ric ngans Per w soe na H re o l u ret sm inir g ex 22% 17% or eme pent en lik ses sav 27% ely ing to s Sha An indiv penv die n g to tr idie su ual retirement d p pt oo rt ofigur r h 18% elp ae out Hea A wo lth c how rk apla re o c r den m e uc retirement talh mone expenses y they will need 1 10 1 00 0% % % % 16% 15% 17% perc • e nt of In e Am ac eh inc ricans om ide e g nt roup ified: a B 24% s Wh lack a itnd e/CH a 31% 15% is uc pa asi nic 24% an (non Americ -H ais ns p aw nic er)e, m 16 or pee 24% r lik ce ent ly t ao s sa His yp ta ha nic 24% t , the and ir non 11 40% p -m eror cetnt ga g as e non deb-t is Black • and L e pow m eH re c is e r ep g rnt a -einc nic nc 2of 0 1% om y 0 A % B or m la e c All e su W 14% k ric d hit Aa d m ns e e Ov White e n a r a era ic la nd ra e rllns g H m e B is or la a e 29% p nd c xpe e a k nic lik 58 H ns e ispa TA ly e 30% he pm e nic tt fha r e o uc nd re ic b n B nt or e a All ns ib la of nv e chin est w k He White* ment is A r dp e m in t am e nic ror ic he a B e A 12% la ns ir 22% m Tlc ik he k fin .e er o ly ic a H nline ispa nc atns o ia nic to a l st c g oonsi ls re a oe rnding All d tha erTed t he White* 13% a p nd r ed deep uc b fa at a r c ting a B io e la na p c m r kfor l ob materia any Hle 22% ispa re m ctha ir nic lsceom lle me nge pnt ar e m s in da w keits h track with your re1tire 0% ment 21% saving 13% s; More on 20% e-on 40% -one, perso 16% Fn ees alized education; More online e15% d 32% ucational 20% tools; More investment sa chur vec for h/r e re ligious c tirem1e 1 0 2 20 5% nt 0 % 0e % % %n or te rliv s or 14% e cle om adfor ers ta 20% a bs sour ly in re ce t 19% 9% ir s us eme ed nt 10% for , a crr 20% e otss ire e m ae cnt h inc plaom nni 28% eng, gr oup B 14% lac ( kFi A gm ureer ic 6a ). ns For w eerxa e m mor ple e, lik am ely ong to use retire earlier than the By la cp k 8% lanned; the 13% re w42% ere changes at their com 26% p13% any, su45% ch a 17% s downsizi 21% ng, closu 4% 4% r13% e 5% or reorganization, 0% 6% family member (such as Medicare or insurance 1 25 0% % 18% 33% 5% or investments, such 49% 22% as 34% account or IRA savings plan, such as a • • C BC la hur om ckc p h/ Aam 1 1r 1 nie 0 0e 0e % % % ligious c rTs, b ic o pay ans 23% yAll A oa fg e fg c e n e red t ................................ s White e55 r it s or c aor rd bill B le old laa c o d ke r c *err red H s w ispa : e it B r c 9% e la nic a rc m dk deb or a ................................ All nd et lik Heis W lyp hite a to nic st BrA la ong m ckely rHisp ic or ans a................................ nic som wee rAll e w ha mor t White a eg lik ree ely t B h la ta o ct k................................ us the He ispa y t 22% his fe nice sour l know ce le tha dgn ea b34 le Figure 84 wit hdraw 3a 0% l made beca 34% use of 31% 21% a heavy and immediate financial need) than Whit 13% e and 27% Hispanic Americans. Endnotes ................................ 1 1 H0 0 isp 0% % %anic30% ................................ options ava................................ ilable calculators off................................ ered you have received ............................. 74 likely to ha Ra ve c et/E rie 30t3 d % hni 0 % to cifigur ty ................................ e out how m 39% uch t35% he................................ y ne19% ed to save for re 35% tir ................................ em 29% ent (Figure 53). H................................ 26% ow 19% ever, t29% hese differenc ....... es b 49 y r pe ad yuc ing edoff a hour 0% cs, hilrde’s e ducd 17% euc d a inc tion is r ome, e or d uc job ing cha how 45% nge m s t uc ha h th n Whi ey c te a n sa Ame vre ic for ans 17% r .e tirement than White Americans, and Figure 24 to , C ha onfide ve sa 0% 0% nc veed in D by toing he t im a e G ood they Job ret ir Pe re so t paring hat Fi the na ync ca ian liv lly for e c Re omtfor irem tae bnt ly , in r bye Ra t premiu ire ce m /E ms e, d nt thni e du th c ctib a itn Whi y les a , pl nd us te Inc Aom mee ric ......... ans. 22 H op is tions panic d ha e Bsla ig vc ing ne k, d2 a a 0 fo nd % ne 0% r a 9 p gfte ate iv r ry e All co eim u ntre p 25% w a tire c etr e ; White on Mo g36% rtoup he re ir ee nvi a db int B ro ili lat nme c o y k a to n nta sa “ot ll H vy ispa he e ofor r rnic ” s c oea cm t ia ee llgy ror g re All eync s tpha ie o 42% ns s t t 25% ib inc ha le White lude n Whi inve s a stme te ll r 15% Ant B e m la m e c oa krpic ini tions ang nsH . ra ispa a vc ae i nic la s/bele thni (ESG) citie;s, s Few uc eh r 10% Less 13% than $35,000 23% $314% 5,000-$74,999 $75,000 or 23% more The improv highe ing t 37 he rt he lik p mee ir rfe lih c si e e 0% ood 0% nt tl st ua 0% of r t ion. e of ss W 21% sa e hit Male St dy e it ing l ha l, Am tn B not he errla ic eac a p a k ns p r e A lic . m som A ae s a brle mu 43% ic e /t a r tm e he ua ns su od l .y f u lt ifi nd d , id c B s,a la CD no tions ck 22% s t oa ha r nd in t veH he a is ny pfin a a nic a ss nc 24% e A ia tm s l sy e ar m ic 50% st ong aens m B w tha la e4c r0 te k 1 c (k), m A ould m t or ae x-d er he ic lef ik aerred lp e ns ly 7% im p to e prrsa si ov st ye ed d te he b in t tir is he middle-income re 1 10% 0 spond 0% %Recoe mm H Al nt ispa l end s, nic 38 a Whi tio p te nse o rGe c f a Blac ent pro nd k* of fess er Hisp W iona ani hit l c fe ina * A nc m Al ia e l 42% l ra ic da vW iso ns hirte eithe Blac r k* strHisp ong Hispa ani ly nic c *or * som All ew Wha hitet ag Blac r21% ee k*d Hisp wit 23% ani h th c* e statement not b oth d, ue and to H the isp a Cnic OVI 1 0% 0% AD m -19 eric carn iss isw ; e ar nd e m the ory e 19% ha like dly a the o 18% us alte h p chur ro19% bcle h/ m re or ligious c a disae bnt iliteyr, s. St not ill re , 26% la 2 14% tin 10 ed to sa COVI id tha D-t 19 the . The y usb eig d none of HispanicAll White Black* Hispanic All White Black Hispanic* All White Black* Hisp 17% anic 0% 16% 46% 18% 40% 16% costs for docto18% r or h 8% ospital 2% vi 3% sits, All LW ess t hitehan Blac $35,k* 000Hispanic All $ W 3hi 5,0 te00-$Blac 739% 413% ,9k* 99 Hispanic Al 15% l $ W 75 hi,0 te 00 or mo Black* re Hispanic* Hispanic a W Abm hit out ee r ic m Aam a ns 1 0% 0 na e % rin e ic ging ans a Male c.th inc heir om da Ty o Fe- c em to g ov a r-er m oup d leayed a fin ic nd Marr a al nc expenses B ied la es t ck ha No Am n B t Marr erla icied a ck ns *A im n th e Male ric ea low ns y eoung rF-em and ae ler up tha pe n a Marr r-inc g ied eom 55e .No gt rMarr oup 42%ied s were more likely S 2 0% H ou 0ispa % rce: nic EmploSocial Sec yee Bene 43% fAll it Re urity search 14% InstitutPer e anso d Gr na ee l n ret wa ir White ld em Reent searcsav h 20ing 21 Rs etire An indiv m15% ent Conf id idual retirement B ela ncc e k Survey.14% A workpla Hispa c 27% e nic retirement * marital status and gende Al 34% 0% Male Yes* lr weW re hi 1 F te 0not em % a No Blac le sig2 nif k* Marr 0%ic Hisp a ied nt ani c Yes* hec 3 c a 0 *c %r k No oss ing 13% Al t /s l a a 4vll inc 0U ing % No .S W. shi Bte om orn5e 0Blac % No s, a n- Yes* k*U s only .SHisp 6 . 0%ani Male m c*idd 7 No 0 40% Al le %lF- em inc aW o le a 8 40% 13% m 12% hi 0 nnuity % te Yes* eMarr B la o Blac ied r c 9 40 k 0 35% % k 3 m (b), Hisp a t N No le hrif o ani 1s w t0t0 c% *ere significantly inv es •tme nt m Up idd o pp etions le r--inc inc 0% 0% 0% om a om vaeil e a W H ble hit is;p e a Othe Male nic Am r A e;r m ic ae nd arns ic No a w ns ne e rw e oe f m rthe eor F em ae ls a a b lik o le om e vly eor . teo lik ag erly e et ha tha n B t Male* tla he cy k ha Am ve er ic enoug ans th sa o a Fem 39% gvrin e ae le g s t wit o h t ha his ndle st aatn ement. 20% prescription drugs) 1 0% 0% 9% $35,000-$74,999 $75,000 or more Fi a s A gur si ea 4 n5, Am Pe errc icea H nt ns ispa a g (nic e Fi g W ur ho e 1 FA ) e. le l l The35% y Do Not Know Whi tW e 7% ho t7% o Go to for 30% Bl Gac ood k Financia 13% l Advic His epani , 11% by cRac 4% e/Ethnicity and p low rospe er- c atnd s, inc midd luding 2le 00% % 0% So-ur inc c a e: Aom c Ellm cp e lo e s y s t ee gr Bo enef oup Les 6% w s it or t Rs c h esea an kom p r$35, cla h Ic nst p 000 e a itut rre e e ad t nd ir w G erit m eenw h Whi ent ald Rsa esea te v rings p cA h 2 $35 m 02 ,e 00 1 r R0- ic et la i$ ra em ns 74, ns ent 999 t Co ha in b nfti dot p enc rh inc ov e Sur ide veyom . one e g -on r $75 oup -,one 00s a 0 or, nd m por ee rH sona ispaliz nic e d A m ad evric ice a ns tha in t impacting 0%their ability 49% to save for retire 51% ment or emergencies and to live comfortably in retirement. t Fi the ha gur t sour d ee 71 bc t e , is s offe P ne ercgea rnt e tiv d a. e gly e of im Allp W 2 ao 5c -3 rt L W k ing 4 es p * hi sla te thtc an he e $35, Blac Re ir a 000 tkb irili eHisp m t o 3y r5 e inv -4 ani tnt o 4es * c sa P tm la v ents n e Al lfor P , a sur ctr W h $35 ic ehi a tipa ir ,te* s4 00 5 e 0- -5 nt m $ 474, s Sa *e Blac nt 999 a k c or tis co Hisp fliv unt ied e ani or W c c Iom * Rit 5 A 5h Va -6 for Al 4l ta rious b$75 sav ly Whi ,ing in r 00 te* A 0 spe s or e p6 la t m 5 Blac ir c n, or or e te s of su m old k ce h er Hisp nt a the s v ani as. 61 p P c*lan, b ey rc ent of Fi Fi diff g gur e u • rr e e e nc 25 78 B e, la in t Pcekr he caend nt or 0% aH d ge is erp of of anic W the orre se kte irrres Wh eeas sons wo erA e w g m a ra e s t or ce c ha e o Tha unt Marr lik t s, W e t outs ly ied P hit r t e id o e p e a sa ro e ring fty an ir teha e for s t sa w Re Boor id rn t ir kt e he for mye p nt ca ould yMa is k a ae ff s Th m or sav ad jing or e to m /m s, m rSt einor o tr ir ney eess pu sour ee Marr ad rc r, lie ha c ied be r sy e, tof Ra hainc n p ce/E om latnne hni e in cdit y 0% All Les Ws hi tte han $35, Blac Very 000 k* C Hisp onf ani ident c* AllSomew $35 Whi hat ,00 te 0% 0-Co $74, nf Blac 5% 999 ident k10% Hisp 15 ani No %c t 2C 0o %nf Al 2 id l5ent % $75 30 W 37% % hi ,00 te 3 0 5or % m Blac 4or 0% ek*45Hisp % 5 ani 0% c* All White 0% W 0% hite* 10% Blac B 1 kla 0% ck20% H Hispa ispa 221% 0% nic nic 30% 3 All 0 White % 40% White 40%Bla50% c Bk la 5c 0k % Hisp Hisp 60% 25% a a 60 nic nic % All 70% White* 70% White 80% 80% Blac Bla k*c9 90% k0%H Hispa ispa1 nic nic 100 00*% % than Whi • L tow e Ae m r-einc ricom anse tAll H o His a igh p ger th a re nic We a h in t t e exp A ha m ec te Bl sa ted r ac icv kaing Bns laHi c k sp w for Aan be o Very r iu c a e t t hc m e s hil Va 24% or All ame a luable de's e lik s e W d e xp h uc ly e itc e a tt Somewha ed o tion o sa Blac yk *t rLha t op Va we Hi a t sp r th y lu tan ing a he able n ic exp C off a OVI ec 35% All ted H D ispa chil -19 W nic dh 's e ip N te oa t nde A dpuc Bl plac 34% icm a akt bic *ion is r le Hi asp nd anr ie ce *dla uc teing d he how alth Figure 53 0% Less0% than Yes, $35, 10p % la 000 n t 20 o% retir3 e 0% earlier 40% 50 Yes, $35 %23% ,p 00 la 0- n t $74, o23% ret 999ire later No 0%, no1 c 0% ha $75 ng 2 ,00 0 e % 0 or 3 m 0or %e 40% 50% Figure 8 10% 25-34*All ^ 21% Black35-44^ White0% 45% 5-54 10% Blac 1k 5%55-64 H 2ispa 0% nic 25% H 6ispa 5 or 30 old nic % er 35% more likely to have 0% done Male 0% a 2r5e -3 t4 ir F1 em e 0% m ae le* nt ne 2 Marr 0%ed ied s c 35-4a 3 40 lc % No ula ttion t 40 U% .Sha . Bo n w 4 rn 5-5 50e 4 % No re n- B U.S la .6c 0k % fe Male m5 a 7 5le 0 -6 %s ( 4Fem Fi ag le* 8 ur 0% e Marr 54 6) 5 ied . 9 or 0Ma % old rer itNo a 31% l st 1t00% atus differences 11 • Up emp ee rg r-e inc ncom y or e su His dp da enic n la A rg m ee e ric xpe ans ns w mu e ettrha ua e l n B m fund or la s, ec CD lik k A s e 30% o m ly r etr o ica ag ns re.e that preparing for 40 1r (k), et t irae x-d mef ent erred makes them feel 10% All White Black* Hispani IRA c*or wo Alrkp l lace White Black* Hispanic* All W orhi pr teofit-sha Blac ring p k* Hisp lananic* Incom1e 0 ................................ %Yo Wh u try ite to 15% Al ilncreasW e y hi o te ur asset l Blac evel k* ................................ Mo Hisp re Co anic Yo *nf uid try 28% ent All to maintU a W nc in hi y te ha ou................................ r c ng ued rren Blac t ass k et l Less Hisp evel ani Co cnf Yo * id u spe ent Allnd d................................ ow W nhi yo te ur assBlac ets k* Hispanic* ................. 35 The list of reasons for taking L es a51% s loa than n $35, or 000 a withdra 49% wal offere$35 d a ,00 s 0- c$ ho 74,ic 999 es included the follo $75 w,i00 ng 0 : or To mor b euy a home, car, or other b the uil d low s on er-tinc heir om com e g Nfor r otoup e: Tt he w u nd (it Fi eh r $3 g5, ha ur 0013% 0 e v inc ing 90 ome) gra . ou Lc p Very ow onne sampe lC er sio - zc e 12% nf inc t wion to th id as ent om too sma el l tW o Wo sho Somew o hit w se rkers ae ny p st A hat arm tov istice Co aiding Ret lr ly ic si nf gni a id ire fns ic ent aes a nt d w rev sue 26% ic lts.re e No . m I t n a C or oe nf d id lik dent ite ion, ly to the try fin 17% to dm ings p aint 17%aoint in t he to ira ane sse ed ts for Black Ame Ra riccaens /E ta hni nd c56 ity ................................ perce Les nt s t hof an H $35, 25% is000 panic Am ................................ ericansB. laTher c $35 k ,00 e H 0- ispa w $74, 25% anic s a 999................................ similar finding ac $75 ross ,000 ................................ or ea mcor h inc e ome group on ....... deb t50 ’s most often vs. Black retir All ees sa White* ying t B Bhe la lac cy k k ha Hispa d a nic healt Allh pro White* blem or Bla d ckisa Hisp bilia ty nic m Hisp ost All anic ofte White* n. Hisp Ba lanic ck r He ispa tire nic es reported these Figu •r e 48 r He ais t nd ir pe am I nic nc e nt om A 5% Sou m te rha ce e r ................................ : ic n Whi Ema plo ns yee Less Less a t Ben e g e t er ha tfe ha s 65 or it Rt n ein r sear $e $ 33e 5 c 5 ,s h 0 , I 0. 0 n 0 0 old st0 itutee ar ................................ n dw Gr Marr e eerne w ied am ld Ror esear e $ 3 $ clik 5 3 h,00 5 2e ,00 02ly 0 1-$ 0 R -$ e 7 t to i4 7 re ,4 9 m Bst ,9 0 o e................................ 9 0 n rn r t0 C ong onfidly en cor e Su rsom vey. ew $7 ha $ 57 ,00 5t,00 0 a ................................ or g 0 or r m e m e o re o tre ha Marr t the iedy * feel .......... 23 Figures Sou Yo Sou rc u e r h c : e Em a : v Em plo Male* e n plo yee o a yee sBen set L es Ben s es /f n ie F t t h o fem R itan t ap e R sear ea sear $35, p le c lic hc I a 000 h nb I st M n le itst u arried it te u ta en a dn c Gr * d hec Gr e Do ee ne k n w No n ing 'a t kn w ld at R /s ld oe R w a sear e vsear ing U c$35 h .S c s 2 h . 0 2 B ,200 0 1 o 2 R rn 0- 1e R t$ ie r74, e tim rNo e999 e m ne n- t C ntU C onf .S onf . ide id ne cn Male* ec S e u S rv ue rv y. ey. Fem$75 a ale nnuity ,000 Marr or o m r ied 4 or 0e 3*(b), thrif Nott 10% 21% 21% 10% retirement savings plan 10% much • the L cy onc ow ca ee n sa rr-ns and v Sa ou Se ou nd r cupp for re c:e Em :b Em us plo re plo er yee ine t- yee ir inc e Ben ss Ben m om e e fe ia tf nt iR tnd e e Rsear e sear B (Fi sc l ca h cg Ic hhool n Iur k st n it stuA ite tu em t e 20% a 41 c n ae los d n Gr r d)ic Gr . ur ea I e enn a ens e w nw s ne ald a d w ld R R d ee sear eit g r sear io e a c t h cn, m iv 2 h8% 2 0e or 2 0m 1 2ly 1 Re e a R t eim ile rlik te irm e m p e B e n ea ly la tn C c t C c onf tte onf k o i d dia e da n end tg c nhe e cr e Se u SH ir e ru vr eis va y. e tha y. p ba ilit nic t y sa tA v o 8% ing m sa er vfor ic e afo ns ar cw rhil ee td ir re ’e s e m me d or nt uc e a b lik te ion o c ea lyus trha e of n Sou Sou rc rc e e:: Em Emplo ploy yee ee B Ben enefi etf iR t e Rse esear arch c Inst h Iin tust te it u atnd e a G nre de Gr nw ea e ld nw Re a se7% lda R rc e B h sear la 20c 21 c k R h* e 2 ti0 re 2me 1 H Rnt e ispa t C ire on m nic fie de ntnc ^ Ce onf Suirv de7% ey. nce Survey. w We hit ree only Am esi ric gnif ans ic Sa ou w S0% ou nt re c re cr l:ey e Em : Em highe le plo plo a yee yee st Ben Ben rlLik es efor f ee is tf iRly tt h e R sear an e t sear he to $35, ch c b I hlow n Ie 000 st n st ituin t ite tu e t r e a - n ahe inc d n Gr d Gr eom low e en ew nw a e e ld a ld r R m - R einc sear ea sear B rr la coie h cc m 2 h $35 k 2 d 02e 0 1 2 ,B 1 00 Rg e Rla H 0- t e r iispa rtoup ec i$ rm e 74, k m e nic n eA 999 tn C tm ( C onf le onf e iss dr ie dic n e c nta e cha ns e S u Srun $35,0 v re va y. end y. upp 00 e $75 rin a -,inc 000 nnu om or me a or l house emarried hold His p inc anic om e) at stressed tha Sourn Whi ce: Em 4% plot yee e L A Ben esm s etfh e itan Rreic sear $35, ans ch 000 I. n stitute a4% nd Greenwald Resear$35 ch 2,0 00 210- Re $t74, ire4% m 999 ent Confidence Survey. $75,000 or more large • purc H ha issp ea ; n To ic Sou A p rca em :y Em o eric plo ff 0% yee cre a Ben n de s it fi, t c Rr ea sear eg r 5% dc a hb Ir il nd stl ito les utr e ac ns 1 re d0 of in Gr % d eit enc wa ac ld rd o Re m 1 sear d 5e % eb c, ht 2; w 0 2To 1ere Re tc ir2 eo 0 m m v % ee no tr Cra onf e lik no idethe nc 2e ely 5 % Sr ure ve to m y. e a rgg e 30 r nc % ee th y expa et it ns 35% e is ; To m ma or 4e im k 0% e end po s rme tan ett to ; Sou SBl ou ra c rc e ck e: : Em Emplo ploy yee ee B Ben ene 45% e fitf iR t e Rse esear arch c Inst h Iin tu st te it u atnd e a G nre de Gr 55% nw ea e ld nw Re ase lda R rc e h sear 2021 c h Re 2 ti0 re 2me 1 Rnt et C ire on m fie de ntnc Ce onf Suirv de ey. nce Survey. Focus • ing Mid spe dcle ifi-c inc a S0% lly ou om Srou c eon r:c e Em e : Em B plo fin la plo yee a c yee n k Ben c A Ben ia em fil a te R fe ie t sear Rr d eic v sear ca is hns I cor n hst I it n u w st us tit eue a a te e c r n , d e a c Gr no a dm unt Gr e p e Ma p or n es, w ern outs aoxim e rr w ld ied a R lik ld e R id sear e ea e sear ly c t oe h f 2 ct an ly ho 0 2 2 1 01 in ha 2 R1 e tR iv re ete m ir3 w e e B m t norn a te C nk tonf or C eonf n a ik dee in dc r en e es r n c Se u re S va u eg rr y. vly e a y.r d w le it sav ss hdra ings, of w r m a ac o l f e ney r /e o p m thni urc Ma the ha crr its ied y e, p la san (a id the y r fin ela anc tivia e l se to B rv laic ce k Sc a ou om nd rce: p Em Hais plo nie p yee as ni Ben tc o e fA iha t Rm esear v ee rcic hm Ia nor st ns itue t e( a4 a nd 5 p d Gr vis ee eor nr wc ase ld nt w Reho sear of ca hW 2r0e hit 21 si Ree m ti rerila m e et nr ir t C e tonf o es v id B ela ncs. 24 p c e k Su rva end y. eH rcis ep nt a n of ic B Ala mce kr ic re atns ire e as a nd nd als32 o t o pe root out rcent Sou SS ou ou rcre r c c :e e Em : :Em Em plo 0% plo plo yee yee yee Ben Ben Less Ben ef1 e ie t0 f R f itt i% t e ha R R sear e e sear sear n c$ h c 3 c I h h n 5 I 2 I st , n0 n 0 it st st % u 0 itit t0 u e u t t e a e n a a d n n Gr d d Gr Gr 3 e0 e e e % n e e w n n w a w ld a a ld R ld R e R sear e e 4 sear sear 0% ch c $ c 2 h3 h 2 0 2 5 2 0,00 1 0 2 2 R 11 e R 5 0 R te ie 0 -$ rt e t i% rim r e 7 e m 4 e m n , e 9 e tn C n 9 tt C 9 onf C onf onf 6 id 0ie d % id n e e c n n e c c e S e u S r S u v u re r v7 v y. e e 0 y. y. % $8 70 5% ,000 or m 90 o% re 100% impact on saving Sou for Srou ce rc :e e Em :m Em plo e plyee oy rg ee e Ben Bnc ene effiie it t R Re e s, a se sear arc B c h s B la h Inst Ic nst ik tula ittu et c a end k an G da re Gr nd enw eea nH lw d a Ris e ld sep R aea rc sear h nic 20c 21 h 2 RA e 0tm 2 ire 1 me Re er nt tiric e C m on a efins n de t C nc onf w e Sie d urv er n ee y. ce m Survor H eispa y.e lik nicely to say that their non-mortgage two • re asons k Ma now le e le a ss nd d e Sg ou nt e rm c Sia a e ou a :b Em lly rr clr e e plo :ie Em e a yee d q b plo ua out B Ben yee la le ly Ben c fim tk Ra e ea a f sear s t itna nd Re che sear hg IH ni ng c sttis h itop I unp te stt a a it he ur nnic td e e Gr ir a an son e dA d e Gr nm a w ey a ee ld a - nr w R to nd ic a eld sear -a R d ns w ea c sear he y 2r w 0 cfin e 2h 1e 2 Rnot r 0a ee 2t1nc ir e Rm m esi e te io rn e s t g tm r C nif e e onf ha n tlik C ic idn His onf ea e ncnt ly id ee S nluty c rp o v e e d a Sy. uha iff nic rvee y. v e rA e m tnt rie e fr rd ic om tao ns figu t he you rsh enge a out re r of t how haW n hit m ag uc e e h mon a 55 nd . Bla ec yk All White Black Hispanic All White Black Hispanic All White Black Hispanic Fi gur •e 46, In e Pearc ch inc entag om e of e gB rla oup ck: aB nd lacH kis ap nd anic His Apm anic eric A am nse W richo ans Fe w ee l The re my or D eo lik Ne ot ly K to now say W tha ho t tto he Gir o non to for -m or Good tgag Fi e na denc btia is l their female count Sou er rcp e:a Em rt plo s t yee o Ben ag er fite Re esear tha ch It n sta itu tc e hil andd Gr’s ee ne wd auc ld Rea sear tion is r ch 2021 Ree tird em uc ening t Confit dhe encir e S ur rve et y.irement savings, but marital status was Fi Fig gur ur ee 1, 62 p re D ad y euc ing me og doff a rShour a ou Sop ur rchic c e e: c :Wo Em s, hil E m B plo rAl p r king d r lo e yee le ’ys e d ee auc wit Ben k Bd d enef W e e h ow uc fd hi ita it R t n a e R einc ns esea sear t aion is r d, o c v rB c hb m is lh I I a o n y c nst st e r k itRa , u itut te e or H e Wo a c d ia n s e uc p nd dj/E Gr ob Ia rR king G ni ing A e rt c eenw e hni o *c n wit w rha wo ahow a ld c h ld Al nge R it rkp R a ley esea sear n ................................ la m a s t c c d rc huc e W v h 2 2ha is 0 hi o h th 2 0t 1 2r e n B 1 R R eet tire e irWo lem m B a y le a c ent nc r c k tking C ka Co A onf n sa m wit nf H id iis d ee p enc nh v a r ce ic ni e a e Sc n a u Sfor ur ra ns v................................ e vd ey y. v. Al .r is e lot rirem W Wo o hi e r trpr nt e king o ft it-sha wit ha Blan Whi h cring kan H plan a isd ............................. pt v a e is ni oA c r*mericans. 9 Fi Begcur aus e e 72 o, f Top job los Thr Sou s SS ou S ou rou e c o re c re r rc :e c Em e :ea :Most Em : Em Em plo s plo plo p plo yee o yee yee yee us Ben Va Ben Ben e Ben elua ’s fe it e f e i R ftfi job e t iR t Rb sear e Re sear ele sear sear clos h cI c I h cm n h I h st Is n In it st n; p st u st it tit ur To it e u tuov e a tte e n a a d n ae c n Gr d nd o m Gr d Gr Gr ev e ee e e n e ent e w r n en w n a w a w ld a s t a ld a R ld fina ld R e R o R sear ee sear esear sear Re nc ch cc 2 h ct ia h 2 h 0ir 2 2 2 0l 1 0e 2 0 2ne 1 R 2m 1 e 1 R R te R ir ee e t e e itrtm ie d nt r ire m e e m m na e e tn e C Sa s n tn C t onf t C C a onf v onf onf id re ings P ie d id in e ds e c n en ult e c nc e c Se u e S r S u v So ula ru e v rry. vf e ve ns y. eCOVID y. y., as Ra -19; nk e To d b co yv Thos er an ee Offe ducartion ed ae xp Pla en, nse b y 15 A Fim g ur p ee re ic r ca 26 ens nt , . C c onfide omparnc ede w in Soci ith 22a p l Se ercceur ntit of y CH ont ispia nui nic ng Am to eP ric rov ans ide a nd Bene 34fit ps of ercea nt t Lof eaB st la E ck q ua Am l to eric Thos ans. eThos Rece eiv in t ed he Now mid , b dy le - HS ispa 0% ourcn e:ic Employee Bene 49% fit Research Institute and Gr51% eenwald Research 2021 Retirement Confidence Survey. help frien 0%Sou drs ce a : Em n plo dyee fa Ben m eil fU it y nd Re n sear er 60 o ch w In th stitutea an nd6 to Gr 0-6 ee save for 1 nwald Resear 6 c2 h-6 2th 0 4 21 eir Retirem o ew n65 t Cn onf r ideti encer Sem 6 u6 rv-6 ey. 9ent. In th 70 or e old upp er er-income group, nearly currently use a financial advisor (Figur Blae c k48). Among retirees, White retirees w Hispa erenic the most likely to currently use a • • w W Bla it hit hdr cke a a and w nd 0% aH l H m is isp a pa d anic e nic b e rw e for tor ire e k e e as rgs e w a e 59 nd re ½ rm etor tir ha e ee tlik s w ye ou ly e rtte y o p m sa icor aylly e t ha lik pa te y ly fi na a t o tnc asa x p iayl supp etn he alt y yor a for rte fr ) c om ur tha re fa n Whi ntm lyily wt or e or k A fr ing m ie ends, rw icit ah a ns inc . p luding rofess ional of sour His ce ps t anic ha tr e m tir igh eets) c, aa us nd e B mla id cd kle a-nd inc H om isp ea H nic isp A am nic e rA icm ans er ic to ans fe e w l th ere e y m a or ree b lik eing ely t tr o et artye d to un inc farir ely ase . At he gre ira a te ss r e unde ts tha rst n B anding lack debt was having a maj who or o ha r sm had inor a sim ne ila grative who retirement im is p aa ffc ilia t sa ted on ving with th s e pla ir yo n ur ability that has to save a for simila ermerg that is encie the s (same Figur ge end 7) er as . Furthermore, r etirees citing these reasons.Less than $35,000 $35,000-$74,999 $75,000 or more they will need to Allhave W hi sa tevedBlac byk the Hisp tani im ce * the Aly l retir We hi te so tha Blactk* the Hisp y ani cacn liv * e Al lcomW for hite tably Blac in r k* et Hisp ireani mc ent than their Advice, by Marital Sta Lest s us tha n a$nd 35,0A 00ge ................................ $35,000-$74,................................ 999 $75,0................................ 00 or more ........... 35 (tuition, sha tud ving ent loa aS ou ne ns rce g ) : a ; Em All tTo plo ive yee c im o Ben v White e p er a fit c me Retsear on d B cic la h Ia t c nhe l st kite uir txp e H a ispa a n e db ns Gr ili nic ee t ey s n; w t aTo o ld All Rsa ep sear a vy e cWhite* h fo 2 for 02r 1 ho Rr ee tirme t eir B mla ee n c m to C kr e onf c nt H ia dispa er nin g cre enic Sp ure a veirs ne y. All ;r a To l th pa White an Whi y for ct B hild e la c A k m cae Hre r ispa ic , a e nic ns lde.rc are, or Fi not g u found re 26t o be significant (Figure 42). Race/Ethnicity ....................................................................................................................................... 51 income group ($35,000Marr – 0%$7 ied 4,9 20% 99 No in a t 40% Marr nnu ied al house 60% * 2580% -3 hold 4*^ inc 100%om 3e 5-4 ) 4r^ anged fr 4om 5-54 ^25 perce 5nt 5-6 4of Whit 6e 5 or A old meer ricans to 31 Race/Ethnicity and Income ..................................................................................................................... 23 one-half of Hispupbring anic A ing m or er lic ife ans agr emplo eed w yer in ith th some is wa sta ytem rae cn iatl/e cthnic omp b aa rc ekg d ro w uit nd h only one- ytohir u d of White Americans. Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. fin Fi Fig g a ur u nc r ee ia 2, l a 35 fin inh D d a e v enc m is rit or og ia a, nc l a ra ae s 41 p d psv hic ,is is or B a r et e rha m c ae a kn B nt d jor ow sa la /m ns cid k inor , t w b he or y sour y Ra k e drc id. s a c ee /E H n of tis d hni p inc ra ecnic tit om irye ................................ e ree s t in r . iree es w tirem ere ent ne txt ha n Whi at ................................ 27 tpee rrc ee tir nt e, ew s.hil e 17 p............................. ercent of Black 9 A of mte he ric im ans por (42 tanc pe e Sr S ou ou c of re c rc ent esu : :Em Em of p plo plo p yee yee or His Ben t Ben ing pea e fifnic ti tR fa R ee sear sear m re cily c ht h Iir I n n st e a st itite nd uu ts v e te a a nfr n ds. 29 p d Gr ie Gr ends e ee nn w w a a ldt ld e R ha R r ec e sear sear e t nt in cc hh 2 2of p 00 2a 2 11 R r B R et e tla ic itrie reula c m mk ee n n tr r C t C e onf H onf tir is id id e ep e ne na ccs) enic e S S u.u r v rv e eA y. y.mericans feel when making financial Hispanic workers also were more likely to report that they were negatively impacted by the pandemic in terms of the non a nothe -mor r cta gre ag ge iv ing deb o t bw lig aa s ta ion lso ; R m Les eor q s tuire he an lik $35, de Very Minimum ly 000 to Coha nfid vent e Dis a trib neSomew ution gativ$35 e( hat R im ,00 MD Co 0- p$a ) nf 74, ;c id ta 999 ent nd on Othe sav No ing r. t Cfor onfid rent etire $75 m,e 00nt 0 or in g more eneral for Black and Fi Fig gu u •r r e e 19 42 Bla ck and Hispanic Americans were more likely to say that they retired earlier than planned than White female and not Po-sm itiva er Irmpa ied cc tount Noe Impa rpar ctts. Minor Negative Impact Major Negative Impact Not Applicable Those doing this first stexper ep w ienc Less ere es tha m a n s or $ y3 oe 5 u ,0c0onfide 0 nt they will$ ha 35,00 ve 0 -$ e 7noug 4,999 h mone to you y to live $c 7om 5,000 for ort m ab ore ly throughout their Male Female Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. percent of Black Americans and 37 percent of Hispanic Americans. White Americans were most likely to be in the Figure 47, UpSour per-c inc es of omeI nfor Blacm k a Atm ion U ericsed ans for wer Re e a tir lse o m m eor nte P lik lanni elyng, to a bg yr e Ra e c tha e/E t tfa hni mcily ity is ................................ more important. Bla.................. ck and 36 retirees said they currently use a financial advisor. In addition, nearly 4 in 10 workers thought they will work with a d num ecisbions er of ishour need s t ed he , y so t could hat t w his or kob b liga ecatus ion ca e of n b care e gw iveing ighe for d a som gains eone t the ot irhe ow r n sa than va ings to b child, auil s 3 in d we10 alt h th Hispa atnic could wor r ke esu rs lt in Fi His gp uarnic e 9 A mericans Sou rca ec : Em ross ployee e Ben aceh inc fit Resear om ch Ie nst itg utr eoup and Gr e (eFi nwg aur ld Re esear 8) c. h 2W 021hil Rete ire m not ent C found onfidence Stuo rveb y.e significant across all income groups, Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. Americans So . S ur ou ce rc : e E:m Em plo plo ye yee e Be Ben nefie t fRe it R se esear arch c Ih n I sn titst uit te ut an e a d nG d Gr ree e n e w na wld a ld Re R se esear arch c 202 h 20 1 2Re 1 R te ire tim ree m n e t n Co t C nonf fide id n e c n e c Sur e Sve urv ye . y. Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. Fi reg tiur ree m 3, ent A m yeount ars ( H Fie gld ure in Sa 55)v . ings a In facnd t, the Inv p ee strm ceent ntas, b ge of y Rta hose ce/Et w hni ho cit figur y and ed Iout ncom how e ................................ much money they ne.................. ed for 10 Source: Employee Benefit Research Institute and Greenwald Research 2021 Retirement Confidence Survey. e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eb b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r ri. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i.o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o or r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rg g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIs s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s ss s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s su u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u ue e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B Br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief A re • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • s e J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J Ju u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u an n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n rce e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eh 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1r0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 e,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,p 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 o0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 rt2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 f1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ro m • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N th o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o oe .......................................................................... 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 E 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3B 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0R I Education and R esearch Fund © 2021 Employee Benefit Research Institute 35 27 36 44 37 67 39 40 20 50 51 58 11 64 43 28 19 60 74 52 68 75 30 45 17 32 16 62 25 61 46 63 69 71 53 65 73 18 24 10 23 21 57 66 38 70 48 26 47 33 34 42 41 29 54 59 22 31 56 12 13 55 15 49 14 72 8 9 5 2 3 4 6 7 $75,000 or more $35,000-$74,999 Less than $35,000 Hispanic Black HiH span ispan ic ic BlBla ac c kk W Wh hite ite Al Alll HTispa H hinks ispa nic nic will work with BlaB c la kca k White Currently White work with All Alla professional financial professional financial advisor in the future advisor All All All All A All llAll All White White White White* White W White* hite White Bla Bc la kc *k Black* Black Black* Bla Bla ck ck Black* Hispa Hispa nic nic * Hispanic* Hispanic H Hiispa H spa ispa nnic icnic * Hispanic* All All All All A All llAll All White White White White White White White* White Black B Bla lac ck k* Black* Black Bla Bla ck ck Black* Hispanic H Hispa ispanic nic* Hispanic* H H H ispa iispa spanic nnic ic * Hispanic* Thinks will work with a Currently work with a All All All All A Al llAll l All professional financial professional financial advisor in the future advisor White White White* White White White White* White Bla Bla cc k* k* Black Black* Black* Black* Bla Bla ck ck HH ispa ispa nic nic * * Hispanic H H H iispa spa ispa nnic ic nic * * Hispanic* Hispanic* All All All A All llAll All All White* White White White White White White White Black B Bla lB ala c ckk ck B Bla B la la c cc k k* k Black* Hispanic H H ispa H ispa ispa nic nic nic H HH ispa ispa ispa nic nic nic * Hispanic*

Volume 530

Pages 75

EBRI Issue Brief

June 10, 2021

Craig Copeland

Lisa Greenwald

Retirement