Confianza, Savings, and Retirement: A Study of Mexican Immigrants
Interdisciplinary study integrating cultural anthropology and economics. Analyzes results from 2009-2010 ethnographic research in the Chicago metropolitan area and statistical analyses of the Current Population Survey, the Chicago-Area Survey, and Immigration and Intergenerational Mobility in Metropolitan Los Angeles Survey. Key findings include immigrants’ collectivist investments in social networks substitute for retirement savings; their descendants invest less in collectivist networks but neither can they save enough for retirement. Provides recommendations for financial and public policy makers to help immigrants and low-wealth populations better prepare for a secure retirement.