Rising insurance premiums pose a growing financial barrier to Latino homeownership. Insurance now comprises one fifth of mortgage payments, more than double what it was in 2013. And Latinos are more likely to live in disaster-prone areas that are experiencing the steepest increases in insurance premiums. Over the next few decades, climate change will reduce property values in vulnerable areas, undermining home equity for Latino homeowners. READ MORE AT UNIDOSUS
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Wealth is as often a measure of financial success as it is a source of pride, an opportunity to live a full life and the chance to secure a lasting legacy. For Hispanic-Latino investors, the Spanish word riqueza encompasses this multidimensionality of wealth.
What wealth-building strategies do Hispanic-Latino investors use to achieve riqueza? To learn more about their unique perspective on wealth, Morgan Stanley recently completed its State of Hispanic-Latino Wealth Report,1 featuring results of a survey of “emerging affluent” and high net worth Hispanic-Latino investors. READ MORE AT MORGAN STANLEY
According to research by consultancy firm McKinsey & Company released last year, which looked at movies and shows released from 2013 to 2022, Latinos held 4 percent of lead roles in theatrical films and television shows, and 7 percent on streaming series, despite making up 19 percent of the US population. That makes Latinos one of the most underrepresented groups in Hollywood; only Native American representation is similarly bad. READ MORE AT MOTHER JONES
In 2024, two of the three richest people in Latin America were Mexicans. The leader of the rank was the Mexican business magnate Carlos Slim, the 14th richest person in the world. Slim had a fortune of 102 billion U.S. dollars, derived from his multiple businesses and investments. At third place was a fellow Mexican businessman, German Larrea, with a fortune of nearly 27.3 billion dollars.
Within each country's economy, there exists a relatively small segment of wealthier individuals who contribute significantly to the Gross Domestic Product (GDP) of their respective countries. READ MORE AT STATISTA
In recent years, Latine business owners have shown significant growth. But year over year, investment numbers lag behind the trend. While the need to close the representation gap is great, performance should be a big reason why. READ MORE AT FORBES
On the Latino economic front, there is good news, bad news, and worse news. The overall economic condition of Latinos is improving. The U.S. Department of Treasury reports that between 2013 and 2022, the median wealth of Latino families increased by 252%. However, the Latino wealth gap persists. READ MORE AT FORBES
Total U.S. household wealth has trended upward over the last 15 years or so, but there is still great inequality along racial lines. According to federal data, the typical white family has almost five times the wealth of the typical Hispanic family. READ MORE AT PBS
Hispanic-Latinos view wealth as a holistic concept that includes money, good health, living a vibrant life, nurturing strong family relationships, and contributing to their community. While Hispanic-Latinos often define wealth as a means of creating independence and stability, many struggle with significant barriers along their path. Here are the barriers these investors faced, along with the strategies used to overcome them. READ MORE AT ETRADE
The American dream is to get an education, get a job, buy a home, and live the good life. When that dream becomes a reality, especially when you own a home, you likely will be able to build a nice nest egg and pass it on to your family. READ MORE AT FORBES
If you’re like a lot of people, you might have gone your entire career without ever asking for a raise. It’s surprisingly common for workers, particularly women, to wait for their employer to dole out raises rather than proactively requesting one.READ MORE AT NEW YORK MAGAZINE
Hispanics are leading a revolution in financial education. While traditional sources still play a role, social media is becoming a go-to for financial guidance. This enthusiasm for financial growth is encouraging and speaks to a community eager to take control of its future. READ MORE AT MONEYLION
Americans aren’t staying on top of their wellness check ups and reports are saying it shows. Aflac’s 2024 Wellness Matters found that more people are waiting for a medical emergency to access care. For Latino Americans specifically, this survey provided critical insights on the barriers preventing Latinos from accessing preventative healthcare and a growing trend of relying on urgent care or emergency services to meet their primary healthcare needs. About 58% of Latinos use urgent care or the emergency room as their main source of care. READ MORE AT RECKON
In the United States, Bitcoin is seen more as an investment instrument. What many people in the U.S. don't know that Latinos are the ones who invest the most in cryptocurrencies. Then it's followed by Blacks and then Whites. In Colombia and Mexico, you're seeing a lot of activity in using cryptocurrencies for remittances, because it's faster, cheaper and sometimes safer. READ MORE AT THE LATIN TIMES
More than 1.6 million Hispanics and Latinos are part of the military, including veterans, and 47% cite financial struggles as a top transitional challenge. The spouse of a Navy veteran is working to change cultural norms surrounding the topic of money.
Many military families who identify as Latino have cultural values like machismo, where males are predominately responsible for financial leadership in their family. READ MORE AT MILITARY FAMILIES MAGAZINE
Yoloxochitl “Yolo” Lopez DeMarco is one of the many Hispanics in the Region who is taking her financial future into her own hands. Her company is among the 5 million Latino/Hispanic-owned businesses nationwide generating more than $800 billion in annual revenue, according to a report by the U.S. Department of the Treasury. READ MORE AT NORTHWEST INDIANA BUSINESS MAGAZINE
Latino/a entrepreneurs continue to be a force for economic development in the United States: They own 4.7 million businesses that generate more than $800 billion annually. But they are not monolithic. A new report highlights the role played by women, immigrants, and new technologies in the growth of Latino/a-owned businesses. READ MORE AT THE STANFORD REPORT
While the gender pay gap persists for all women relative to their white male counterparts, it has long been widest for Latinas, who are paid 46% less than white men and 26% less than white women. One explanation offered for this gap has been that Latinas are more likely to hold low-wage jobs—but research indicates that those pay disparities remain in place among women who are more educated or work in more lucrative industries. READ MORE AT FAST COMPANY
The fastest growing Hispanic food company in the country, based in Central Texas, is helping empower and support Latino communities across the U.S. This year, Siete Family Foods is awarding a total of $300,000 to Latino-owned food and beverage establishments across the country, marking its biggest distribution to date. READ MORE AT MYSANANTONIO
Latinas are one of the most powerful women in the United States but it’s still an uphill battle when it comes to financial equality. Latina entrepreneurs create businesses 50x more than the national average and Latinas college rates have skyrocketed over the last 20 years. READ MORE AT HIP LATINA
The wealth gap between white families and their Black and Latino counterparts has widened by more than $1 million, according to a new analysis by the Urban Institute, a nonpartisan think tank that focuses on economic and social policy research. White families have a median wealth of $284,310, more than four times that of Latinos ($62,120). Additionally, the analysis found that the wealth gap widens with age — on average, white families accumulate more wealth over their lives than Latino families in the same age group. READ MORE AT THE LOS ANGELES TIMES