April 13, 2010

USA: Asian Americans Not Financially Ready for Retirement

. NEWARK, New Jersey / BusinessWire / April 13, 2010 Most Asian Americans are not ready for retirement and are not seeking professional guidance, a new study by Prudential Financial, Inc. shows. “Asian Americans need to address the gaps that exist between the goals they’ve set and the lifestyle in retirement they can now expect to achieve. This is particularly critical for those nearing retirement” Asian Americans were hit hard by the recent economic turmoil, with approximately 8 in 10 indicating their savings and investments were impacted by the sharp market downturn of 2008 and 2009. Yet the study, Asian Americans on the Road to Retirement, found they continue to remain focused on achieving ambitious retirement goals, while balancing other responsibilities such as providing for family members. [rc] Click to read full report © 2010 Business Wire