When it comes to retirement, Social Security plays a huge role for most Americans. But here’s the thing—many people don’t realize they have the power to make their monthly benefits bigger. With a little planning and some insider tips, you can set yourself up for a more secure and comfortable retirement. Let’s break it down in plain, simple terms—here are 10 ways to get the most out of your Social Security.
1. Wait If You Can—It’s Worth It
Sure, you can start collecting Social Security at 62, but did you know waiting can make a big difference? If you delay claiming benefits until age 70, your monthly checks could be up to 32% higher. It’s like giving yourself a raise for life! If you can afford to wait a bit, it’s worth it.
2. Know Your “Magic Age”
Your full retirement age (FRA) is the age when you qualify for 100% of your benefits. For most people born after 1960, that’s 67. If you claim earlier, your checks will shrink. Knowing your FRA helps you decide when it’s best to start collecting.
3. Work at Least 35 Years
Social Security calculates your benefits based on your highest 35 years of earnings. If you worked fewer years, those empty years count as zeros—and that drags your average down. So, if you can add more years to your work history, even part-time, it’ll help.
4. Keep Earning (Even in Retirement)
If you’re working while collecting benefits, it’s not just about the paycheck. If your recent earnings are higher than your lowest-earning years, Social Security will recalculate your benefit—and bump it up.
5. Team Up With Your Spouse
If you’re married, you’ve got some extra strategies to play with. For example, the higher earner can wait to claim benefits so the surviving spouse gets a larger check later. It’s all about planning together to maximize your household income.
6. Check Out Spousal Benefits
Even if you’ve never worked, you could still be eligible for up to 50% of your spouse’s benefit. Many people miss this entirely because they don’t know it’s an option. Don’t leave free money on the table!
7. Be Smart About Claiming Early
If you start collecting before your FRA and keep working, Social Security might reduce your benefits if you earn too much. Once you hit your FRA, there’s no penalty, but it’s worth knowing how this works to avoid surprises.
8. Keep an Eye on Your Earnings Record
Mistakes happen, and errors in your earnings record could cost you money. Log into your “my Social Security” account online and make sure your earnings history is accurate. If something looks off, you can fix it.
9. Consider Survivor Benefits
If your spouse passes away, you might qualify for survivor benefits based on their earnings record. In some cases, this amount could be higher than your own benefit, so it’s worth looking into.
10. Use Social Security’s Free Tools
Social Security offers helpful online calculators to give you a better idea of your future benefits. Tools like the Retirement Estimator let you test different scenarios, so you can figure out the best strategy for your situation.
The Bottom Line
Maximizing your Social Security isn’t about being lucky—it’s about knowing the rules and making smart choices. Whether it’s waiting to claim, coordinating with your spouse, or double-checking your earnings, these small steps can lead to bigger checks down the road.
It’s your money—make sure you get every dollar you’ve earned. A little planning today can pay off in a big way for your future.
