NU Online News Service, May 5, 2003, 5:49 p.m. EDT – Hispanic-American workers are more confident now that they will have enough money to live comfortably throughout their retirement years than they were in 2001, but they are less confident about their ability to pay for medical care and long-term care, according to the 2003 Minority Retirement Confidence Survey.
Although 51% of Hispanic-American workers are currently very confident or somewhat confident that they will have enough to retire comfortably, up from 45% in 2001, only 26% believe they will have enough to pay for long-term care, down from 35% in 2001.
The percentage who believe they will be able to handle medical expenses during retirement has fallen to 41%, from 48%.
Those figures emerge from a comparison of results from the 2003 Minority Retirement Confidence Survey with results from the 2001 Minority Retirement Confidence Survey.
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The surveys were organized by the American Savings Education Council, Washington, a division of the Employee Benefit Research Institute, and Mathew Greenwald & Associates, Washington, a polling firm.
The researchers who conducted the 2003 survey interviewed 782 U.S. workers over age 25 and 218 U.S. retirees over the telephone in January and February.
The researchers found that, for the most part, the participants gave answers this year that were similar to the 2001 answers.