Sí Se Puede: Building Financial Security for Latinos and the US
As a critical and growing portion of the US population, the economic security of Latino households is an important issue affecting all Americans. Over the next 40 years, Latinos will continue to grow and will account for nearly 30 percent of the US population–driving business creation, consuming, and entering college at higher rates than any other ethnic group. As a result, they will continue to have an immense influence on the nation’s trajectory well into the future.
While Latino families are progressing, many face financial challenges, from short-term needs to long-term goals like retirement security. They trail many of their fellow Americans in retirement preparedness, a fact that could become painfully clear as more and more Hispanics begin to reach retirement age. This, of course, is not solely a Latino issue, as many families struggle to build savings and wealth. The good news is that there are ways to help Latinos and the country get on a more sustainable savings track.
The Aspen Institute’s Latinos and Society Program and the Financial Security Program hosted a presentation and panel discussion on the morning of October 26 from 9:30am to 11am. The event brought together thought leaders from industry, government, and the non-profit sector to explore these challenges and highlight possible solutions that can help more families save, build wealth, and contribute to a more prosperous America for all.
Couldn’t make our discussion? Watch the livestream below. To join the conversation or ask a question to the panel please use #LatinosAdvance.
Brief: Sí Se Puede: Building Financial Security for Latinos in the US
Welcome by:
- Abigail Golden-Vazquez, Executive Director, The Aspen Institute Latinos and Society Program, @Abbeyny and @AspenLatinos
- Jeremy Smith, Associate Director, The Aspen Institute Financial Security Program, @jeremymacsmith and @Aspen_FSP
Presentation by:
- Abigail Zapote, Executive Director, Latinos for a Secure Retirement, @abi_zapote
Panelists:
- Carlos García, President and Founder, Finhabits, @garciacarlosar and @Finhabits
- John Herrera, Co-founder, Latino Community Credit Union
- Steve Juarez, Deputy Treasurer, California State Treasurer’s Office, @CASecureChoice
- Samantha Vargas Poppe, Associate Director, Policy Analysis Center, UnidosUS, @WeAreUnidosUS
- Cristina Martin Firvida (Moderator), Director, Financial Security & Consumer Affairs, AARP, @AARPpolicy
Twitter Highlights
Latino wealth gap. #latinosadvance @AspenLatinos @Aspen_FSP @abi_zapote pic.twitter.com/IJ4PeyDNdQ
— AbigailGoldenVazquez (@Abbeyny) October 26, 2017
Comparing white families w/Latinos shows widening #wealthgap, according to @federalreserve data, says Samantha Vargas Poppe #LatinosAdvance
— Aspen FSP (@Aspen_FSP) October 26, 2017
Samantha Vargas Poppe reminds us that smart, well-targeted policy matters #AdvanceLatinos pic.twitter.com/FTi2HHuns5
— jeremymacsmith (@jeremymacsmith) October 26, 2017
Latinos lagging behind on homeownership compared to whites and african americans #LatinosAdvance @Aspen_FSP @AspenLatinos
— Carlos E. Delgado (@carluchidelgado) October 26, 2017
Latinos lagging behind on homeownership compared to whites and african americans #LatinosAdvance @Aspen_FSP @AspenLatinos
— Carlos E. Delgado (@carluchidelgado) October 26, 2017
Juarez on shifting paradigm twd retirement saving in context of hierarchy of financial needs. #LatinosAdvance @Aspen_FSP @AspenLatinos pic.twitter.com/TBO30C5BFh
— CA Secure Choice (@CASecureChoice) October 26, 2017
Research shows Latinos are savers, even though they may use nontraditional savings channels, says Samantha Vargas Poppe #LatinosAdvance pic.twitter.com/kSNzYgBnXR
— Aspen FSP (@Aspen_FSP) October 26, 2017
Any resources that help with retirement preparedness and savings need to be culturally competent to be successful. #LatinosAdvance
— Latinos & Society (@AspenLatinos) October 26, 2017
@CASecureChoice, Steve Juarez: it's important to ensure Latinos can trust financial institutions/organizations #LatinosAdvance
— Sarah Spell (@sarahspellphd) October 26, 2017
Thank you to today's #LatinosAdvance panel for sharing ways to build financial security for Latinos in the US. https://t.co/zYg2ZZhtDq pic.twitter.com/iYycoCxn5K
— Aspen FSP (@Aspen_FSP) October 26, 2017
The Aspen Institute Latinos and Society Program would like to thank Carnival Cruises, the Ricardo Salinas Foundation, Target, the Woody and Gayle Hunt Family Foundation, Comcast/NBCUniversal Telemundo, the Bank of America Charitable Foundation, Edison International, and Weingart Foundation for making this event and the work of the Latinos and Society program possible.
The Aspen Institute Financial Security Program would like to thank Prudential for making this event and the work of the Financial Security program possible.