The best thing you can do is to get ready for retirement. If you are still working, there can be some ways to get more money from Social Security as a retiree in the United States.
Retirement benefits can be really low. That could happen when you have just worked for the minimum number of years required by Social Security. It could be even worse if you had a low wage.
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WAYS TO INCREASE SOCIAL SECURITY RETIREMENT BENEFITS
First of all, a worker must know that early retirement reduces your future Social Security check. Undoubtedly, many workers prefer to retire early to enjoy life and forget about work.
But this situation could be really bad if you cannot make ends meet because your Social Security is too low and have no other earnings or savings. To get more money you must do three things.
File at the age of 70, work for a minimum of 35 years, and become a high earner. These three tips will allow you to get more money in retirement. See below for more information in detail.
RETIREMENT BENEFITS CAN BE UP TO $4,873 IN 2024
The Social Security Administration increased benefits thanks to the 2024 COLA. The largest payment was $4,555 in retirement in 2023. As you can see, the largest benefit has increased more than the common 3.2% boost.
Do not forget that Social Security works out the full amount of retirement benefits using the 35 years with the top earnings. that is why working for 34 years only can reduce a lot your check.
If you manage to earn the taxable maximum for 35 years, you will be a step closer to getting $4,873 in 2024. All you have to do then is to file at the age of 70 to get the largest retirement check.