st BANK reduced work hours 17 13retirement for Older Hispanic Americans (ages 50+) Methodology: All...
Transcript of st BANK reduced work hours 17 13retirement for Older Hispanic Americans (ages 50+) Methodology: All...
30%
42%
applied forunemployment benefits13% applied for
public benefits
have had difficulties paying bills
13%
postponed payinghousing-related billslike utilties/cable/home repairs
17% have delayed payingone or more bills
15%of those employedhave lost income due toworkplace closure orreduced work hours
AARP PROVIDES INFORMATION, ADVOCACY AND RESOURCESTO HELP OLDER ADULTS COPE WITH THE HEALTH AND
FINANCIAL IMPACTS CAUSED BY COVID-19
COVID-19 DATA
52%are concerned that theywill not be able to affordtesting or treatment for Covid-19 if they need it
20%have had to put themselves
at risk of exposure to Covid-19because they could not afford
to stay home and miss work
tapped intoemergencysavings17% started charging
more expenses totheir credit cards16%
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JOHN DOE
REGIONALBANK1st
57% 47%vssay they are very
concerned about Covid-19
46% 27%vsworry that they will have
to delay bill payments
46% 27%vsworry they will have to help
family financially
44% 34%vsworry that they will have to use retirement savings for necessary expenses
42% 25%vsworry they will be unable to affordtesting or treatment for Covid-19
if they need it
50%are concerned they might
have to use retirementsavings to pay for necessary expenses
43%are concerned they
may become thevictim of a scam
related to Covid-19
43%are concerned they
will have topostpone their
retirement plans
38%are concerned they
will lose incomefrom a gig
or sidework
BENEFITPAYMENT
www.aarp.org/coronavirus www.aarp.org/elcoronavirus
For more information, contact Rebecca Perron, [email protected] is https://doi.org/10.26419/res.00385.007
Covid-19 brings more debt and concerns aboutretirement for Older Hispanic Americans (ages 50+)
Methodology: All data collected via AmeriSpeak’s national probability-based online panel.
Data for Hispanics (non-comparative) collected April 29th – May 8th, 2020 to 324 Hispanics ages 50+. Data
on Hispanics compared to Whites fielded May 13th – May 24th, 2020 to 501 Hispanics ages 50 and 822
Whites ages 50+.
DATA ON HOUSEHOLD FINANCES REVEALS WARNINGSIGNS OF GROWING DEBT
HISPANICS REPORT HIGHER LEVELS OF CONCERN ABOUTCOVID-19 AND ITS FINANCIAL IMPACT THAN WHITES
FINANCIAL CONCERNS SUGGEST LONG-TERM EFFECTSTHAT MAY NEGATIVELY AFFECT RETIREMENT
DATA SHOW THAT FINANCIAL CONCERNS MAYNEGATIVELY IMPACT HEALTH
In addition to health impacts from Covid-19, older Hispanic adults show financial strains as early as May, signaling long-term repercussions from the pandemic.
Hispanics are far more likely than Whites to . . .