Social Security: Vale La Pena Esperar

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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.

1 comment
Manuel Carvallo

This is a good effort directed at a small segment, the top of the demographic pyramid of Spanish-speaking Hispanic population. And for many of these, delaying retirement is not something they control.

The number of those Spanish speakers starting to consider retirement is small when compared to all the Spanish-speaking Hispanics that are contributing to the system. Our findings show that Spanish-speaking Latinos are more concerned about how to see what they are entitled to, and for this they require to set up an account in the SSA website. Unfortunately a Spanish-speaking Latino is unlikely to be able to set up an account since once they pass the portal, all the instructions are in English.

In order to help in this regard Hispanic Wealth created a small video that provides instructions in Spanish, regarding how to set up a SSA account. You can see the video at

It is necessary to do more education about retirement in Spanish, but preferably directed to a younger segment of the demographic pyramid. Here we will find a larger number of Latinos that are not fluent in English, that need the education, and where corrective actions might still have enough time to make a difference.

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