Summary

In many Asian American households, it is a cultural norm to care for parents during their retirement years. This responsibility is often handed down from one generation to the next, with many Asian Americans observing their parents caring for their grandparents and expecting to do the same in the future. This Fast Fact examines the retirement culture of Asian Americans and its impact on retirement preparations by analyzing the living arrangements of both retirees and workers and the value and ownership of retirement assets. It then compares these statistics with those of other racial groups.