NU Online News Service, June 13, 1:22 p.m. – Hispanic Americans are much more likely than the general population to put family first when making important financial planning and investing decisions, according to a new survey by Market Facts Inc., Arlington Heights, Ill.
Eighty-seven percent of the 400 Hispanic adults surveyed agreed that their “most important financial goal is to make sure they leave something for their family,” Market Facts says.
Only 38% of 1,641 participants from the general population put a similar emphasis on passing wealth on to their families.
Hispanics also put a higher priority on saving for their children’s college education, with 82% naming saving for higher education a primary financial goal, compared with 42% of the general population.
Although Hispanics were concerned about building financial legacies for their families, survey results show they were less likely to use investment products or professional advisors.