Social Security benefits are a critical income source for older adults, comprising about a third of the average income for those over 65. For many, particularly 39% of men and 44% of women, these benefits constitute at least half of their income.
If you, too, depend on Social Security benefits for your retirement, you must maximize them for a comfortable future. There are 10 simple strategies to do this.
Work for 35 Years
To calculate your Social Security benefits, the SSA looks at your 35 highest-earning years. If you haven’t worked for 35 years, they fill in the missing years with zeros, which lowers your benefits. You can increase your future payments by working more years with a higher-paying job to replace lower-earning years.
For self-employed people, reporting accurate income is important to earn Social Security credits. While some business owners lower their taxable income to save on taxes, this might also reduce their future benefits.
Wait for Full Retirement Age
The age at which you start collecting Social Security affects your benefits. Claiming at 62 gives you reduced payments, while waiting until full retirement age (66-67) provides the standard amount.
If you delay even further, up to age 70, your benefits increase by about 8% for each year you wait, resulting in significantly higher monthly payments. This can be a smart option for those planning for a long retirement.
Claim Spousal Payments
You can boost your Social Security benefits through spousal payments if you’re married. You can claim up to 50% of your spouse’s benefits if their earnings exceed yours. To get the complete 50%, you must apply at full retirement age (FRA). If you start earlier, the percentage will be reduced.
Divorced people who were married for at least 10 years can also claim spousal benefits based on the work record of their ex-spouse, as long as they don’t remarry. This is a helpful option many people miss out on.
Check Your Records
Your Social Security payments depend on the earnings reported to the SSA. It’s a good idea to check your yearly through your online Social Security account.
Compare these records with your W-2 forms, tax returns, or pay stubs to catch any mistakes. Fixing errors early helps ensure you get the correct benefits when you retire.
Claim Dependent Benefits
Social Security also provides benefits to dependents of retired or disabled workers. This includes spouses, ex-spouses, children, dependent parents, and even grandchildren in some cases. The amount a dependent can receive varies based on their relationship to the worker, ranging from 50% to 100% of their benefits.
Maximize Survivor Benefits
You could be eligible for social security survivor benefits when your spouse passes away. This allows you to receive their full Social Security payment if it’s higher than yours. Survivor benefits can also go to ex-spouses, dependent parents, or children based on the worker’s history.
For example, a widow receiving $1,500 could switch to her late spouse’s $2,000 benefit. Delaying your own benefit can sometimes increase the amount you receive later. Understanding these options helps you plan better financially.
Minimize Social Security Taxes
Your benefits may be subject to federal income tax if your total income exceeds certain limits. For individuals, income over $25,000 may result in up to 50% of your benefits being taxed, and income over $34,000 could lead to taxes on up to 85% of your benefits. Couples have higher thresholds—$32,000 and $44,000.
To reduce taxes, consider managing withdrawals from retirement accounts like Roth accounts, as these are tax-free and not included in income calculations. Careful planning can help you keep more of your Social Security payments.
Earn More Before Retirement
Your Social Security benefits depend on your highest-earning years. Boosting your income before retirement, whether through a raise, side job, or switching careers, can increase your future payments.
Even small increases in lifetime earnings can lead to higher benefits, as the more you contribute to Social Security, the more you’ll receive later. Planning ahead pays off.
Supplement Your Social Security
Social Security benefits are designed to be a part of your retirement income, but they generally only replace a small portion of your pre-retirement earnings. To cover all expenses, it’s wise to supplement your benefits with savings, investments, or part-time work.
If you claim Social Security benefits early and continue working, earning over $23,400 in 2025 could lead to temporary reductions. For every $2 you earn over this limit, $1 will be deducted.
In the year you reach full retirement age, the earnings limit rises to $62,160, with $1 withheld for every $3 earned over this higher threshold. Once you reach full retirement age, these reductions stop, and withheld benefits are credited back to you.
Suspend Benefits
If you’ve claimed Social Security benefits too early, you can suspend them even after a year, provided you’ve reached full retirement age. By doing so, you can start earning delayed retirement credits, which increase your future payments by 8% for every year you delay collecting benefits between full retirement age and age 70.
Benefits will resume automatically at age 70 unless you restart them earlier. Remember that suspending payments also pauses benefits for spouses, though divorced spouses can continue receiving them. This strategy allows you to maximize your lifetime benefits.
