The Hispanic Americans community's top financial priority is supporting their multigenerational families rather than long-term financial goals like saving for retirement, according to a study by Prudential Financial.
The "Hispanic American Financial Experience" found that despite having more short-term financial goals, the Hispanic community is moderately confident in its future outlook for household finances and the economy.
The 2014 study showed that this community faced additional barriers to saving for their own futures because of the complexity of Social Security, a lack of access to work-based retirement plans and limited contact from financial advisors.
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