Latino wealth: Understanding the $113 trillion opportunity

Latinos in the U.S. are on track to accumulate $113 trillion in wealth by 2050, according to a report from Finhabits. In the past decade, Latino wealth in the U.S. has seen a growth rate exceeding 12%, amounting to approximately $4.24 trillion, according to the report. “The collective growth of the Latino market is huge,” Finhabits Founder & CEO Carlos Garcia tells Yahoo Finance anchor Rachelle Akuffo, “you have to adjust, as a financial institution, you have to adjust the way you engage with that population.” Garcia believes, in the future, Latinos will account for a significant portion of the high-net-worth individuals in the country thanks to their contributions, ranging from family-owned businesses to homeownership. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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