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Variations in Retirement Account Holdings: Evidence from Native and Immigrant Women in the U.S

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  • Yoku Mimura

Abstract

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.

Suggested Citation

  • Yoku Mimura, 2013. "Variations in Retirement Account Holdings: Evidence from Native and Immigrant Women in the U.S," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 7(5), pages 11-22.
    • Handle: RePEc:ibf:ijbfre:v:7:y:2013:i:5:p:11-22
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    References listed on IDEAS

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    1. Catalina Amuedo-Dorantes & Susan Pozo, 2002. "Precautionary Saving by Young Immigrants and Young Natives," Southern Economic Journal, John Wiley & Sons, vol. 69(1), pages 48-71, July.
    2. Mariacristina De Nardi & Eric French & John Bailey Jones, 2009. "Life Expectancy and Old Age Savings," American Economic Review, American Economic Association, vol. 99(2), pages 110-115, May.
    3. Angela Fontes, 2011. "Differences in the Likelihood of Ownership of Retirement Saving Assets by the Foreign and Native-Born," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 612-624, December.
    4. Nathaniel J. Harness & Michael M. Finke & Swarn Chatterjee, 2010. "Household Investment Asset Variation And Wealth," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 1-11.
    5. Yunsun Huh, 2011. "The Effect of Home-country Gender Status on the Labor Market Success of Immigrants," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 12(3), pages 367-392.
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    More about this item

    Keywords

    Foreign Born; Immigrant; Naturalized Citizen; Retirement; Savings; Women;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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