June 24, 2014
Social Security: Vale La Pena Esperar
Waiting to claim Social Security is good for retirees’ financial health – none more so than the U.S. Latino population.
This message is delivered in Spanish in the above video, “El Seguro Social: Vale la Pena Esperar.” The video was produced by the National Academy of Social Insurance, a policy research non-profit, and Squared Away found it on the website of Latinos & Economic Security.
Latinos & Economic Security, which is part of UCLA’s Center for Policy Research on Aging, said Latinos make up 7 percent of the U.S. population age 65 and older. Due to their lower incomes during their working years, Latinos are more reliant on Social Security than are Asian-American, African-American and white, non-Latino retirees, the organization said.
Its research also shows that Social Security provides at least 90 percent of the income of well over 40 percent of elderly Latino couples. So it pays to delay and increase the size of that monthly pension check.