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3 Easy Ways To Get More Money From Social Security



Whether you are starting your golden years with a modest amount of savings or have no savings at all, you will want to make as much social security money as possible. These simple steps will help you maximize your benefits and enjoy a higher flow of retirement income for life.

1. Work for at least 35 years

Your social security benefits are based on your 35 years of highest paid salaries. But not everyone has been working for 35 years. Some people take time off to raise children. Others leave the workforce to travel, care for loved ones, or recover from injuries or illnesses. If you do not have the full 35 years of work under your belt, extending your career can give you the much needed boost. This will replace the $ 0 you would otherwise receive in your benefit equation for each year with no real wage, thus increasing your average salary over that 35-year period.

  Smiling older man wearing orange sweater

Image source: Getty Image.

In addition, it is often paid more for work than 35 years if your goal is to increase your benefits. The reason? If you make more money later in your life than you did earlier in your career, you can replace a few years of lower income with higher income, thus increasing your average salary to bring your total advantage.

2. Retirement benefits above your full retirement age

Although your social security benefits are based on your employment history, you are not entitled to full benefits until you reach the full retirement age. This age, depending on your year of birth, is either 66, 67, or somewhere in between.

Keep in mind that Social Security will allow you to benefit from the age of 62, but this way you will reduce them in the process. At the same time, you can also delay benefits beyond full retirement age and increase them by 8% annually to age 70. This means that if you are entitled to $ 1,500 a month for a full retirement age of 67, waiting up to 70 years to claim your benefits will give you $ 1,860 a month instead of a lifetime.

3. Increase Your Work Skills To Earn An Improvement

Your Social Security benefits are based on your income, so the higher your income, the higher they are. That's why it's worth developing your skills to become the most valuable employee possible. This way, you are more likely to drive merit-based promotions that will not only put more money in your pocket from year to year, but will also increase your social benefits during retirement.

How Can You Improve Your Front Skills? For example, you can see how to get certified in a specific area in your field, whether it's information technology, project management or education. You can also work on enhancing your soft skills – things like communication, problem solving and organization.

Perhaps social security will be your primary source of retirement income. Or maybe it will only represent part of your total income. You have paid into the system anyway throughout your career, so you deserve to enjoy these benefits now that you are older. Take these steps and you will see a higher social security payout throughout retirement.


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