Many Americans fear they'll outlive their savings, but African Americans and Hispanics face an even greater risk of spending the end of their lives in poverty.
Members of those two groups are less likely than white and Asian workers to participate in their employers' 401(k) plans, and when they do contribute, they save less, according to a study scheduled for release today by Ariel Education Initiative and Hewitt Associates.
African Americans and Hispanics also are much more likely to take money out of their 401(k) plans for emergencies, which could further stunt long-term savings growth. And they are less likely to invest in stocks in favor of low-risk investments and real estate, increasing the risk that their savings won't keep pace with inflation, retirement specialists say. READ FULL STORY
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