> Hispanic and Latino families often live in multigenerational households where family members pitch in to care for elderly relatives.<p>Wouldn't you rather live away from your parents, from people who care about you, and instead spend more time at work, so you can earn enough money to pay strangers to look after your aging family?<p>That's the dream, right? Visit your parents in the retirement home every other week for a few hours. Or once a month. Or every other month. At least for Christmas and Thanksgiving, anyway. Don't worry, they'll be around for plenty more years.
Everyone's children is their retirement plan - just some societies have socialized/obfuscated this to varying degrees. All retirement financial mechanisms and social programs are funded by younger people paying taxes, and putting money (buying) into things like 401ks, IRAs, Stocks, housing, etc. Retirement is when you "withdraw" (sell) these things for cash to live on without having to work.
Many elderly Eastern European migrants - at least in Australia - refuse assistance programs like home help, where someone will come and clean their house, a nurse will help bathe them, etc. Instead they insist their own children do it.<p>(Could be the same with lots of other cultures but I can't speak to them)