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The Hispanic American Financial Experience - Prudential

2014 Prudential Research
The Hispanic American Financial Experience

Demographics Influence Financial
Priorities & Confidence

Birthplace Affects Financial Priorities

44%
Born in
the U.S.
56%
Born outside
the U.S.

Differences in
Financial Priorities
Based on Country
of Birth

Hispanic respondents born in
the U.S. place more emphasis on
longer-term financial goals.

  • Saving for retirement 57%
  • Building an emergency savings account 45%
  • Protecting existing investments and savings 28%

Hispanic respondents born
outside the U.S. place a higher
emphasis on near-term goals.

  • Funding education for children/ grandchildren 36%
  • Saving to purchase a home 25%
  • Supporting elderly family members 20%

Demographics

Household Income

Median Income $40,400

  • 31%   Below $25K
  • 47%   $25K- $74K
  • 22%   $74K+

Age

Hispanic Community is Younger; Respondent Median Age is 42

Workplace-based Retirement Plans
Age Hispanic General Population
Boomers/Matures 32% 50%
Gen X 45% 32%
Gen Y 18% 23%

Language

Language spoken most often in household

27% Spanish
27% Equal English/Spanish
45% English

Confidence Index

  • All Hispanic Americans 46

  • $75K+ 47

  • <$75K+ 45

  • Gen Y 47

  • Gen X 46

  • Boomers 45

  • Matures 49

  • Spanish Dominant 46

  • = English & Spanish 49

  • English Dominant 44

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Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. Please consult with your tax and legal advisors regarding your personal circumstances.

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