The Growth of Affluent Hispanics
Did you know that the segment of Hispanics considered affluent (with incomes of $125,000 or higher) has increased by 81% in the last five years? According to a report recently released by Merrill Lynch Research, this segment grew faster in the Hispanic population than in the general population in the US.
I learned about the report from a Houston Chronicle article and dug my way through Google until I found what I think is the original report. If you have the time, check out the original report – it’s full of interesting tidbits, including:
- They identify as American. 67% of affluent Hispanics identify as American but continue to be proud of their cultural heritage.
- They are driven by family.
- Hispanics are three times more likely to be driven by a desire to make their families proud.
- They are four times more likely to list planning to financially assist aging parents as the most important financial goal.
- They speak English. 73% of affluent Hispanics ages 20-34 say that they speak English and another language at home.
Check it out and let us know what you learn from the report.
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Sources:
- Merrill Lynch Research Report
- Family and the financial priorities of the Hispanic/Latino community; A new study reveals the concerns and aspirations of affluent Hispanics/Latinos in the United States today
- Diverse Viewpoints: Exploring Wealth in the Hispanic/Latino Community (PDF)
- Why the affluent Latino population is growing strikingly faster than other wealthy groups | The Houston Chronicle
- Merrill Studies Reveal Challenges Diverse Communities Overcome to Achieve Success and Grow their Wealth || Galveston County The Daily News
Sandra Fernandez is a professional communicator, tech enthusiast, book lover, and blogger. You can find her main blog at SandraSays.com and more of her writing at HispanicHouston.com.