3 Things You Can Do Right Now To Get Higher Social Security Checks
3 Things You Can Do Right Now To Get Higher Social Security Checks

3 Things You Can Do Right Now To Get Higher Social Security Checks

People are often advised not to rely on social security too much during retirement. This is because these benefits will only replace part of the payslip you are used to receiving.

But there is still a good chance you will be trusted Social Security to some extent when your time in the workforce is over and you no longer charge a paycheck from your employer. So it is important to sign up for benefits at the right time to ensure that your salaries are as generous as possible.

But you do not have to wait until retirement age to take steps to increase your Social Security income. Here are a few things you can do right away that can result in several significant benefits.

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1. Boost your income

The amount you receive from Social Security during retirement depends on your career salary. If you are able to increase your income, you can adjust to a higher monthly benefit later in life.

How do you raise your income? First, you can work on developing competencies that make you a more valuable employee. It can easily lead to an increase.

You can also try taking another job to give your overall earnings a boost. Even if you are employed on a freelance basis as long as you report this income to the IRS (which you must do), it counts for Social Security purposes.

2. Extend your career

It may be that you are nearing the end of your career and making more money than you have ever done before. If so, you have an excellent opportunity to get a higher social security benefit.

If you extend your career by a few years, you can replace a period of lower earnings with higher earnings in the formula that Social Security uses to calculate pension benefits. Plus, working a little longer with a higher salary could allow you to pad your IRA or 401 (k) plan nicely – and set yourself up with more retirement income that way.

3. Check your annual earnings statements

Each year, Social Security issues all workers an overview of their earnings and an estimate of their future benefits based on their earnings. Checking your annual earnings statement can lead to a higher monthly benefit.

Although earnings statements are often accurate, this is not always the case. It is possible for your income to be underreported once or more than once.

If you review your earnings statement each year and correct errors related to underreported income, it may lead to a higher benefit in the future. You can access your earnings statement at SSA.gov Anytime. And if you are 60 years of age or older, you should receive a copy of your earnings statement by mail each year.

A higher benefit could be yours

The more money you are able to squeeze out of social security, the more comfortable a retirement you can look at. It pays to take these steps today to achieve a higher monthly benefit – and have fewer financial worries.


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