Retirement is their top financial priority, but not only doAsian Americans plan to retire earlier than the general population,they’re doing a better job of preparing for it.

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Related: Loss of workers to retirement, slowing productivityof all age groups, could cut U.S. growth

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That’s according to Prudential’s “Asian American Financial Experience” study,which also found that family figures heavily in Asian Americans’financial decisions — both before and after retirement.

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Related: RIAs not in minorities' AmericanDream

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While the general population expects to retire at age 65.9,Asian Americans have a target retirement age of 64.6 — 15½ monthsearlier. More Asian American parents consider it important to paytheir children’s college tuition — 22 percent, compared with 14percent of the general population — and 33 percent are caregiversfor another person (compared with21 percent of the generalpopulation). Seventy percent of those caregivers are paying some orall of the living expenses for the person they’re helping.

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But all that notwithstanding, among Asian Americans aware of howmuch income their workplace retirement plans will generate, 74percent say they’re on track to meet retirement goals.

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Related: Minority households less likely to have taxableinvestment accounts

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Higher salaries, on average — a median personal income of$62,000 and a median household income of $87,000, compared with$42,000 and $62,000, respectively, for the general population —help with that confidence. But so do several other factors: higherlevels of education — 38 percent have a bachelor’s degree, comparedwith 26 percent of the general population — and higher-paying jobs.Asian Americans are more likely to hold professional, managerial oradministrative jobs that tend to pay more than other positions (55percent hold such jobs, versus 47 percent for the generalpopulation).

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Yet another piece of that on-track puzzle is saving forretirement. Asian Americans, at 76 percent, are more likely thanthe general population, at 66 percent, to have access to aretirement savings plan at work. And 58 percent of those withaccess to a workplace plan contribute to it at a percentage equalto or greater than the amount their employer matches.

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In addition, Asian Americans estimate the value of theirhousehold financial assets, excluding their primary residence or abusiness, at an average of $445,600; the general population trailsthat, at $385,500. In addition, 17 percent of Asian Americans haveat least $500,000 of equity in their homes, compared with just 8percent of the general population.

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