Sixty-eight percent of employees chose retirement planning as a top concern in 2016 making it the most often cited concern, but it was actually getting out of debt that continued to top the list of concerns for African American (76%) and Latino (65%) employees, according to Financial Finesse’s 2016 Year in Review report.
Cash and debt management concerns continue to contribute to overall lower financial wellness levels among African American and Latino employees.
Planning for retirement was a top concern for 74% of white employees and 63% of Asian employees, compared to 50% for African Americans and 55% of Latino employees. Meanwhile, managing cash flow was a top concern for 62% of African Americans and 56% of Latinos, compared to 38% of Asians and 46% of whites. READ MORE AT PLAN ADVISOR
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