Assari Shervin, Najand Babak, Zare Hossein, Sonnega Amanda
Marginalized-Related Diminished Returns (MDRs) Research Center, Los Angeles, CA, USA.
Department of Family Medicine, Charles R. Drew University of Medicine and Science, Los Angeles, CA, USA.
Open J Educ Res. 2024;4(6):392-401. doi: 10.31586/ojer.2024.1104. Epub 2024 Nov 21.
Retirement is a universal life stage, marking the culmination of an individual's working years. However, many people face financial challenges during retirement due to insufficient financial planning. Retirement preparedness is essential for ensuring economic security and maintaining a high quality of life in later years. Education is often viewed as a key driver of retirement preparedness, as it is linked to higher earnings, better financial literacy, and improved decision-making. However, the Minorities' Diminished Returns (MDRs) theory suggests that the economic, cognitive, and behavioral benefits of education are weaker for racial and ethnic minorities compared to non-Latino Whites.
This study aims to examine the relationship between educational attainment and retirement preparedness, focusing on whether this association differs among Black, Latino, and non-Latino White individuals, using data from the Understanding America Study (UAS).
Data were drawn from the UAS, a nationally representative internet-based panel survey. The sample included participants from diverse racial and ethnic backgrounds. Linear regression models were used to evaluate the association between educational attainment, measured in years of schooling, and retirement preparedness. Interaction terms were included to test whether the association varied by race and ethnicity. Models were adjusted for potential confounders, including age, sex, marital status, employment status, and immigration.
In the overall sample, higher educational attainment was significantly and positively associated with better retirement preparedness (p < 0.001). However, consistent with the MDRs framework, the strength of this association was significantly weaker for Black and Latino participants compared to non-Latino White participants (p < 0.05). Non-Latino Whites with higher education levels reported substantially better retirement preparedness, while the same level of education yielded smaller gains in retirement preparedness for Black and Latino individuals.
The findings support the Minorities' Diminished Returns theory, showing that although educational attainment enhances retirement preparedness for all groups, Black and Latino individuals derive fewer benefits compared to their non-Latino White counterparts. These disparities point to persistent structural inequalities and systemic barriers within the education system and labor market, as well as the effects of segregation and discrimination, which undermine the economic benefits of education for marginalized populations. Addressing these disparities requires targeted policy interventions aimed at eliminating racial and ethnic inequalities in retirement outcomes and ensuring equitable benefits from educational attainment for all groups.
退休是人生的一个普遍阶段，标志着个人工作生涯的结束。然而，由于财务规划不足，许多人在退休期间面临财务挑战。退休准备对于确保经济安全和在晚年维持高质量生活至关重要。教育通常被视为退休准备的关键驱动因素，因为它与更高的收入、更好的金融知识和更优的决策相关联。然而，少数群体回报递减（MDRs）理论表明，与非拉丁裔白人相比，教育对种族和族裔少数群体的经济、认知和行为益处较弱。
本研究旨在利用美国理解研究（UAS）的数据，考察教育程度与退休准备之间的关系，重点关注这种关联在黑人、拉丁裔和非拉丁裔白人个体之间是否存在差异。
数据取自UAS，这是一项具有全国代表性的基于互联网的面板调查。样本包括来自不同种族和族裔背景的参与者。线性回归模型用于评估以受教育年限衡量的教育程度与退休准备之间的关联。纳入交互项以检验这种关联是否因种族和族裔而异。模型针对潜在混杂因素进行了调整，包括年龄、性别、婚姻状况、就业状况和移民情况。
在总体样本中，较高的教育程度与更好的退休准备显著正相关（p < 0.001）。然而，与MDRs框架一致，与非拉丁裔白人参与者相比，这种关联对黑人和拉丁裔参与者的强度明显较弱（p < 0.05）。教育水平较高的非拉丁裔白人报告的退休准备情况明显更好，而相同教育水平对黑人和拉丁裔个体退休准备的提升较小。
研究结果支持少数群体回报递减理论，表明尽管教育程度提高了所有群体的退休准备，但黑人和拉丁裔个体相对于非拉丁裔白人获得的益处较少。这些差异表明教育系统和劳动力市场中存在持续的结构性不平等和系统性障碍，以及隔离和歧视的影响，这些因素削弱了教育对边缘化群体的经济益处。解决这些差异需要有针对性的政策干预，旨在消除退休结果中的种族和族裔不平等，并确保所有群体从教育程度中获得公平利益。
