Obstacles to Retirement for Low-Income Savers
While fears of running out of money in retirement are common, they are realized far more often among minorities. That was the message from Maya Rockeymoore, president of the nonprofit Center for Global Policy Solutions.
Minority workers are more likely to have a low income and to have lost significant home value during the Great Recession. They are less likely to have adequate savings and less likely to inherit assets. That’s why Rockeymoore believes Social Security reforms need to considered in light of their impact on specific minority groups, not only how they would affect the population as a whole.