About AARP 

AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment or “Salud, Dinero, y Amor” in Spanish. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPEnEspañol on social media.

About Latinos for A Secure Retirement

LSR’s mission is to safeguard the economic security of those dependent, now or in the future, on Social Security. We seek to protect and improve the economic security of disadvantaged and at-risk Hispanic populations in the United States. To learn more, visit www.latinoretirement.org or follow @LatinosRetire on social media.

About The Conversation 

Latinos for a Secure Retirement and AARP are partnering to guide three discussions with experts. The conversations will be around benefits-access, economic awareness, and retirement readiness to help Latino families integrate financial planning and saving strategies to be financially secure now and the ongoing journey of creating generational wealth.

A recent U.S. Hispanic and Latino report by McKinsey & Company states that Latinos have the potential to add $1.6 trillion to the economy by 2030. But many latino families are not aware of the resources available to them and many are left wondering how to optimize their savings therefore more financial literacy is necessary in aims to educate and inform families how to incorporate a financial plan into their lives. The lack of generational knowledge and financial education has put the latino community far behind compared to Whites, for example more than 60 percent of Hispanic households are at risk of being unable to maintain their current standard of living in retirement, along with 54 percent of Black households and 48 percent of white households, according to the latest available data from the National Retirement Risk Index calculated by the Center for Retirement Research at Boston College. The need for these conversations is urgent because of the tremendous impact covid-19 had on latino households. Just before the pandemic, in 2019, Hispanic net worth increased to $36,100. The median net worth for White families ($189,100) is five times higher than that of Hispanics. By creating these cafecitos, many families will learn how to integrate financial planning and savings strategies by learning how to take advantage of sponsored employer retirement plans as well as understanding how having a background of financial literacy can help families with generational wealth.