New AARP Survey Shows Some Middle-Aged and Older Hispanics Making Dire Decisions for Long Term
WASHINGTON, June 5 /PRNewswire-USNewswire/ -- While many middle-aged and older Hispanics are trying to work their way through the recent economic slump, many are also being forced to make difficult decisions with dire long-term consequences, according to a new survey by AARP.
The survey, which is part of AARP's continued look at how Americans ages 45 and older are faring through economic difficulties, found that 86% of Hispanics 45+ say the economy is in fairly bad or very bad condition, and 82% say it is getting worse.
"The current economic downturn is forcing many in the Hispanic community to make very difficult choices between their immediate needs and long-term financial security," said AARP Board Member Jacob Lozada.
HISPANICS 45+ UNDER ACUTE PRESSURE
Compared to all Americans 45+, middle-aged and older Hispanics report a relatively greater impact of recent economic pressure.
While two-thirds of all Americans 45+ are having a harder time paying for food, gas and medicine, four in five Hispanics (80%) are struggling to afford these daily necessities. Middle aged and older Hispanics are more likely than the general 45+ population to have difficulty paying their mortgage or rent (41% - 26%), as well as pay for educational expenses (32% - 19%).
The impact of high foreclosure rates is causing particular stress for Hispanics 45+, with more than four in ten (41%) concerned about losing their home, and more than three-quarters (77%) concerned about the safety of neighborhoods with many foreclosed homes.
DIFFICULT DECISIONS WITH LONG-TERM IMPACT
Economic pressures are forcing many middle-aged and older Hispanics to
make difficult choices that could have d
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