Happy Year of the Monkey! The Lunar New Year is another opportunity for us to make New Year’s resolutions. For many Asian Americans and Pacific Islanders, having a better understanding of Social Security should be on their list of things to do.
I had to learn about many of Social Security’s programs very quickly a few years ago, when my dad passed away. I found myself immersed in the world of survivor benefits, pensions, and overall income security for my mom. I learned that my parents were fortunate — Social Security was one source of their income, but not their only one.
Statistics show that a large percentage of elderly Asian Americans and Pacific Islanders rely on Social Security for at least 90 percent of their income. This important detail reminds us that Asian Americans and Pacific Islanders need to invest for a better financial future.