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Retirement Planning > Retirement Investing

Hispanic boomers cutting back retirement accounts

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Hispanic boomers are almost evenly split in retirement confidence. A study by AARP found that 49 percent of Hispanic boomers said they were “somewhat confident” or “very confident” that they would be able to live comfortable through retirement; 48 percent said they had little to no confidence in their retirement.

While it seems at least some boomers are confident about their situation, that percentage is trending down. Forty-nine percent said they were less confident than they were two years ago, compared with only 14 percent who are more confident and 32 percent who feel the same way they did then.

Despite a growing lack of retirement confidence, 35 percent of boomer have stopped contributing to their retirement accounts, and 22 percent have made early withdrawals from 401(k)s, IRAs or other investments. Nearly 20 percent have delayed retirement and 10 percent have returned to work after retiring. Eighteen percent have a spouse who has also delayed retirement.

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