Survey says: Hispanic investors face housing challenges | Mt Kisco Real Estate

Despite financial confidence and an overall optimistic outlook, debt remains a top concern for many Hispanic investors, according to a recent survey.

Twenty-five percent of Hispanics surveyed are more concern about losing their home, compared to 12% for the overall population, Wells Fargo ($41.25 0%) said in its latest survey.

While Hispanic investors appear to be taking steps towards saving, there is still anxiety about having enough for retirement.

“Hispanic investors are facing tremendous challenges when it comes to saving for retirement. We are seeing immediate financial concerns like covering household bills and mortgage payments are interfering with their ability to put money away toward retirement,” said David Roda, regional chief investment officer for Wells Fargo Private Bank.

He added, “These are complex challenges where one size doesn’t fit all in terms of a possible course of actions, but we would certainly encourage all investors to double down on their planning efforts, and really seek guidance from an advisor to ensure they are on track to meet their financial goals.”

Living in multi-generational households may also have a significant impact on Hispanic investors’ savings, as a number of respondents are caring for their own children, as well as parents or grandparents, the survey noted.

Nearly one in five, 18%, of Hispanic investors report currently living in a three-generation household and 27% expect to do so within the next decade.

Survey says: Hispanic investors face housing challenges | HousingWire.