|PR Newswire Association LLC|
"Today's story of Hispanic Americans is one of growth, prosperity and influence," said
The telephone survey, which was conducted in December, found that 84 percent of Hispanic adults surveyed expect their family's financial situation to improve in the next four years. More precisely, six in ten (60 percent) strongly agree and 24 percent relatively agree. Among respondents employed full time, over eight in ten (85 percent) feel confident about their current job security. Respondents also expressed confidence in their ability to retire without inconveniences. Two-thirds of Hispanic adults surveyed feel confident that they will retire without drawbacks, compared to just half (52 percent) from the general population.
The survey, conducted in English or Spanish (depending on the respondent's preference), also found that despite the confidence that respondents have in their financial futures, Hispanics expressed a greater desire for help with their long term planning than do adults from the general public. Almost half of Hispanic respondents (49 percent) agreed that they would like some help managing their finances more effectively, compared to just over a quarter of the general population (28 percent). When asked why they are not providing their family with financial protection, while the most frequently selected reason is "not having enough money to do so," mentioned by 40 percent of Hispanics and 31 percent of adults from the general public, large proportions of Hispanics refer to lack of knowledge for not doing so. Over one third of Hispanic respondents (35 percent) said they needed more information for ways to do so, compared to only 15 percent of adults from the general population – a 20 point gap. Additionally, one third of Hispanics (31 percent) also said they have not thought about it.
"There's a thirst for financial protection information among Hispanics," said Vilchis. "For those of us in the insurance and financial services industry, these numbers tell us that much work remains to be done when it comes to bringing much-needed information to the Hispanic community about the many resources that are available to them, so that they are better able to ensure a brighter financial future for their families. The good news is that
One of the many ways