Nearly half of Puerto Rican adults are financially insecure, new study shows

A new study is shedding light on the financial challenges people in Puerto Rico face as a result of the economic turmoil they have endured since the Great Recession.

A new study is shedding light on the financial challenges people in Puerto Rico face as a result of the economic turmoil they have endured since the Great Recession.

Findings from the National Financial Capability Study published in a report Thursday show that many adults in the U.S. territory struggle to make ends meet despite reporting relatively low levels of debt. This is particularly true among those who are younger, have lower household incomes and lack a four-year college degree.

Wealth building and financial planning are also sparse, with few Puerto Rican adults reporting they have emergency savings or own investment accounts, according to the report.

The report was co-authored by Harold J. Toro, research director at the Center for a New Economy, a Puerto Rico-based nonpartisan think tank, and Olivia Valdés, a senior researcher at the Financial Industry Regulatory Authority's Investor Education Foundation.

The authors concluded their findings are generally consistent with “well-known characteristics” of the Puerto Rican economy, such as limited job opportunities, stagnant wages and income disparities.

https://www.nbcnews.com/news/latino/puerto-rican-adults-financially-insecure-study-rcna169529

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