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Amount and Sources of Income of Older Households in Mexico

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Author(s): Alicia Rodriguez-Flores | Sharon A. DeVaney

Journal: Financial Counseling and Planning
ISSN 1052-3073

Volume: 17;
Issue: 1;
Start page: 64;
Date: 2006;
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Keywords: Mexican households | Older adults | Sources of income

ABSTRACT
This study investigated the amount and sources of income of households headed by a person age 60 and older in Mexico using the 2002 Household Income and Expenditure Survey of Mexico (N = 3,672). The results suggest that Mexicans do not come from a culture of retirement planning. In households where the head had a source of income, the income was composed of pensions, 24%; wages, 19%; business income, 15%; partnerships, 13%; gifts, 10%; and other sources, 19%. If the head of the household reported no income, he or she was dependent on other earners and gifts. When advising those who were born in Mexico, consumer educators and advisors should realize that these households might expect support from family members instead of saving for retirement.

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