National Center on Women & Aging
2002 National Poll on Women 50+
Issue Brief Series Issue No. 2Women of Color
Page 2
Financial Status, Capabilities
Women interviewed for the NCWA 2002 Poll were asked about their ability to pay for a variety of household and personal expenses. As might be expected due to differences in income, there were several differences by race/ethnicity in what items and how many items women found it difficult to afford.2 The following are all statistically significant findings.3
Even though the women of color were relatively young, many were not saving. Four out of ten minority group women and one-third of Caucasian women were not putting income aside; this difference is not statistically significant. Among those who were saving, minority women were more likely than Caucasian women to be saving for emergencies (33% vs. 14%). They were also more likely to be saving for education (8% vs. 3%). When asked about what makes saving difficult, minority women were more likely than non-minority women to agree that if they save too much, it might affect some public benefits they get, like food stamps or public housing (21% vs. 13%).
Caregiving
Women were asked to identify who they are relying on to take care of them should they find they are unable to care for themselves. Given the disparity in marital status between minority and non-minority women surveyed for the poll, it was not surprising to discover that minority women were significantly less likely to be planning for a husband to provide their care (27% vs. 43%). Minority women were significantly more likely than Caucasian women to identify a sister as a potential caregiver (8% vs. 3%).
Work Attachment
Minority women want to retire but realize that there is a good chance they will have to work after retirement. Sixty-five percent of minority women, as compared with 43 percent of white women planned to retire in their 60s. Yet women of color were significantly more likely than Caucasian women to report that there is a chance that they will have to return to work after retirement (48% vs. 39%), with over one in five (22%) saying this likelihood was quite high (80% chance or higher). There was no difference between minority and non-minority women in their estimation of how likely it is that they could find employment in their retirement years if they need to work. Minority women, on average, rated their chances for finding a good job at 42 percent (from 0 to 100%), and non-minority women estimated their chances at 45 percent. However, the percentage of minority women who said they “will always work” was significantly smaller than that of Caucasian women (13% vs. 31%, respectively).
Issue #2 pages: