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First-generation Americans seek advice during these unprecedented times

Apr 29, 2020
Empower Institute

Research shows that first-generation Americans tend to be more optimistic about the U.S. economy than the general population, but the COVID-19 pandemic is causing workers across demographics to question what the future holds.

A recent survey administered by The Harris Poll on behalf of Empower Retirement suggests that first-generation workers are still more optimistic about the economy and their finances, but they share the concerns of other workers about the long-term effects of the pandemic. First-generation workers in particular trust their employers to provide sound advice, and they are looking to their employers for guidance on saving for retirement through this uncertain time.

Key findings

  • First-generation workers remain more confident in the U.S. economy and their retirement savings than the general population.
  • The vast majority of first-generation workers are concerned about the economic impacts of the pandemic, including inflation and a recession.
  • More than the general population, first-generation workers want guidance from their employers on saving for retirement during these uncertain times.
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