Want bigger Social Security checks? These simple moves can boost your benefits — no extra work needed

Many people think the only way to get bigger Social Security payments is to work longer, but that is not always true. Experts say the timing of when you claim Social Security can change how much money you receive every month in retirement. By choosing the right claiming strategy, retirees may increase their lifetime Social Security income without working any extra days.

One easy way to get bigger Social Security payments is to wait before claiming them. According to the GOBankingRates, many people can increase their monthly money simply by delaying when they start taking benefits. Most Americans can begin collecting Social Security at age 62. This is the earliest age when people are allowed to claim the benefit. However, if someone starts taking the money at 62, their monthly payment becomes smaller and stays reduced for the rest of their life. If people wait until their full retirement age, they can receive 100% of the Social Security benefits they earned during their working years. Waiting longer can help retirees get a higher monthly payment.

Delay Social Security benefits

Full retirement age depends on your birth year, but for many Americans it is around 66 or 67. Delaying even longer can increase benefits further, making monthly payments higher. For people born in 1943 or later, each year they delay after full retirement age increases benefits by about 8%, as noted by GOBankingRates. These delayed retirement credits continue to increase benefits until age 70.


After age 70, there is no additional increase for delaying benefits further. Financial experts say even delaying benefits by just one or two years can noticeably increase lifetime income. Comparing different claiming ages often shows that people who wait longer receive more total money over time. However, experts also say people should consider their health, expected lifespan and other retirement income before deciding when to claim benefits.

Spousal Social Security benefits

Married couples may have more ways to increase their Social Security payments. The rules allow a spouse who earned less money to receive benefits based on the work record of the spouse who earned more. The Social Security Administration explains that a person can qualify for their own retirement benefit. But if their own benefit is higher than the spousal benefit, they will receive their own payment instead. According to a report by GOBankingRates, this rule helps couples choose the option that gives them the higher Social Security payment. If their own benefit is lower, they may instead receive the spousal benefit based on their partner’s earnings.

Social Security options also apply to some people who are no longer married. People who were married for at least 10 years may still qualify for benefits based on their former spouse’s earnings record. Surviving spouses may also receive benefits based on the earnings of their deceased partner. Taxes can also affect how much Social Security income retirees actually keep. Research shows that up to 85% of Social Security benefits can become taxable depending on a person’s total income.

Taxes on Social Security income

Financial planners say careful tax planning can help retirees keep more of their Social Security money. Some common strategies include delaying Social Security benefits, using Roth account conversions and managing investment income carefully. Experts also suggest maximizing charitable contributions as another way to manage taxes during retirement, as cited by GOBankingRates. Overall, experts say small decisions about timing, spousal benefits and taxes can make a big difference in how much Social Security money retirees receive over time.

FAQs

Q1. How can I increase my Social Security benefits without working longer?

You may get higher monthly payments by delaying when you claim benefits, using spousal benefits if eligible, and planning taxes carefully, according to GOBankingRates.

Q2. At what age should I claim Social Security for bigger payments?

Waiting until full retirement age or even delaying up to 70 can increase your monthly Social Security check, according to the Social Security Administration.