Study Shows More Than 70% of African American Males Retire for Reasons Beyond Their Control
Written by Tracey de Morsella on 05-01-2007According to a new study released by Nationwide Financial (NYSE: NFS), 73 percent of African-American males say they were driven into retirement by factors beyond their control, compared to 33 percent of the general population. This number represents retirees who say they had to retire when they did due to illness, disability, company closing, or for another reason beyond their control. From the same study, the percentage for African-American females was 28 percent, compared to 37 percent for females of the general population. The Nationwide Retirement Decisions Study, conducted with Mathew Greenwald & Associates, covered people with household incomes of at least $40,000 a year. The survey also found that most African-Americans expect to retire between the ages of 55 and 65, compared to 57 and 66 for the general population.