st BANK reduced work hours 17 13retirement for Older Hispanic Americans (ages 50+) Methodology: All...
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30 % 42 % applied for unemployment benefits 13 % applied for public benefits have had difficulties paying bills 13 % postponed paying housing-related bills like utilties/cable/ home repairs 17 % have delayed paying one or more bills 15 % of those employed have lost income due to workplace closure or reduced work hours AARP PROVIDES INFORMATION, ADVOCACY AND RESOURCES TO HELP OLDER ADULTS COPE WITH THE HEALTH AND FINANCIAL IMPACTS CAUSED BY COVID-19 COVID-19 DATA 52 % are concerned that they will not be able to afford testing or treatment for Covid-19 if they need it 20 % have had to put themselves at risk of exposure to Covid-19 because they could not afford to stay home and miss work tapped into emergency savings 17 % started charging more expenses to their credit cards 16 % XXXX XXXX XXXX XXXX JOHN DOE REGIONAL BANK 1 st 57 % 47 % vs say they are very concerned about Covid-19 46 % 27 % vs worry that they will have to delay bill payments 46 % 27 % vs worry they will have to help family financially 44 % 34 % vs worry that they will have to use retirement savings for necessary expenses 42 % 25 % vs worry they will be unable to afford testing or treatment for Covid-19 if they need it 50 % are concerned they might have to use retirement savings to pay for necessary expenses 43 % are concerned they may become the victim of a scam related to Covid-19 43 % are concerned they will have to postpone their retirement plans 38 % are concerned they will lose income from a gig or sidework BENEFIT PAYMENT www.aarp.org/coronavirus www.aarp.org/elcoronavirus For more information, contact Rebecca Perron, [email protected] DOI is https://doi.org/10.26419/res.00385.007 Covid-19 brings more debt and concerns about retirement 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 WARNING SIGNS OF GROWING DEBT HISPANICS REPORT HIGHER LEVELS OF CONCERN ABOUT COVID-19 AND ITS FINANCIAL IMPACT THAN WHITES FINANCIAL CONCERNS SUGGEST LONG-TERM EFFECTS THAT MAY NEGATIVELY AFFECT RETIREMENT DATA SHOW THAT FINANCIAL CONCERNS MAY NEGATIVELY 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 . . .
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%
XXXX XXXX XXXX XXXX
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 . . .
