Hispanic Americans rank retirement security as an important goal in their lives, at a 90 percent clip, but many lack a comprehensive plan for reaching that goal, not unlike the population at large. In fact, 64 percent of Hispanic Americans have put aside some savings for retirement, but two-thirds say they have no formal plan or the help of a financial advisor, according to a research report from Prudential Financial, “Hispanic Americans on the Road to Retirement.”
The good news is that those with a financial advisor were four times as likely to have a formal financial plan. The bad news? Only one-third reported having a financial advisor, despite 80 percent saying a successful retirement depends on careful planning.