Variations in Retirement Account Holdings : Evidence from Native and Immigrant Women in the US

This study investigated how immigrant status and life expectancy in the country of origin relate to variations in retirement savings among working age women in the U.S. Specifically, utilizing the National Longitudinal Survey of Youth 1979 Cohort data, this study compared native-born Americans, naturalized citizens, and female, non-U.S. citizens in regards to retirement-specific accounts. Overall, naturalized U.S. citizens had higher odds of saving for retirement than non-U.S. citizens; however, after controlling for socio-economic backgrounds, the difference was not significant. Variations in female life expectancies provided weak support to correlate with saving for retirement among female immigrants. Rather, variations in the demographic characteristics of these women explained the differences in the odds of having savings in a U.S. retirement account. The findings gave support for immigrants' economic assimilations corresponding with delayed cultural assimilations and implications for financial service professionals who work with immigrant clients