Why Do African-Americans and Hispanics Save Less Than Whites and Asians?

Ethnicity is the number one predictor of saving and investing behaviors, according to 401(k) Plans in Living Color: A Study of 401(k) Savings Disparities Across Racial and Ethnic Groups — The Ariel/Hewitt Study. But the pioneering report and company representatives talking on the topic stop short of answering the basic question of why African-Americans and Hispanics save less.