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3 ways to increase your monthly Social Security check

3 ways to increase your monthly Social Security check

When you’re counting on a monthly check from Social Security to make ends meet, every penny makes a difference. And your knowledge of the system can make a pretty significant difference in the amount you’re receiving.

Here are a few strategies you can employ to boost your benefit check.

Delay claiming benefits

When you begin collecting Social Security has an effect on the size of your monthly check. Claiming at full retirement age (66/67 depending on your year of birth) allows you to receive your full benefit amount each month. But you don’t have to claim at full retirement age. Some choose to collect early (at a deducted rate) or choose to wait.

Now, waiting to claim your benefits isn’t the right choice for everyone – for example, if you are in poor health. But if you foresee many healthy years ahead, you could hold off on collecting Social Security. This allows you to collect your full benefits plus a bonus amount each month.

Make your 35 years count

If you’ve worked for 10 years, you’re eligible to collect Social Security. But keep in mind Social Security is based off your 35 most profitable work years. If you haven’t worked for 35 years, spent many years at a lower pay grade, or took time off during your career, you could be counting zeros towards that average. Working a couple extra years could allow you to replace zeros or lower earning years, and reward you with a larger check when you do cash in.

Make sure you know what benefits you’re eligible for

Social Security extends past retirement benefits. You may be eligible to collect additional benefits such as spousal, divorce or survivor benefits. But here’s the catch – you most likely won’t be notified that you’re eligible. It’s up to you to be informed and collect all the benefits you’re entitled too.

To learn more, check out the article below.

2020 Presidential candidates’ proposed changes to Social Security

2020 Presidential candidates’ proposed changes to Social Security

With the 2020 election looming on the horizon, presidential campaign are in full swing. To help track the candidates and their positions on Social Security, the Center for Retirement Research at Boston College has put together a list comparing the various plans. Compiling where each candidate stands into one chart makes it easy to compare… Continue Reading

What to look for when reviewing your Social Security statement

What to look for when reviewing your Social Security statement

You can check your Social Security statement easily by logging onto the Social Security Administration’s website (www.ssa.gov/mysocialsecurity). But do you know what you should be looking for? A recent article in USA Today highlighted 6 items to keep in mind while reviewing your statement. The statement you’re looking at is your estimated benefits if you… Continue Reading

Take the 7-day sugar challenge

Take the 7-day sugar challenge

The average American eats about 17 teaspoons of added sugar each day — way above the recommended average for men, women or children. Just in time to coincide with New Years resolutions, the New York Times has come out with a 7-day sugar challenge. Each day of the challenge shows participants a different way to… Continue Reading

Sugar — too much or too little — could be the cause behind your headaches

Sugar — too much or too little — could be the cause behind your headaches

Many people know that too much sugar can be a contributing factor to headaches, but did you know too little sugar can be a culprit as well? “Sugar-related headaches come from a rapid swing in your blood sugar level,” Dr. Anisha Patel, DO of Medical Offices of Manhattan A recent article by Popsugar explains how… Continue Reading

What you need to know for 2020

What you need to know for 2020

With a new year comes change and some of those changes could affect your retirement plans, Social Security and Medicare. MarketWatch has put together a quick reference of what you should know before 2020 hits. The article highlights changes you can expect to your 401(k) savings, average Social Security payment and Medicare premiums, to name… Continue Reading

Is your favorite morning drink having a negative impact on your health?

Is your favorite morning drink having a negative impact on your health?

Giving up the drink you rely on to get going each morning can be tough. But experts are warning that some popular morning beverages could be negatively impacting your health, especially for the over 50 crowd. Pumpkin spice lattes, iced frappuccinos and premade smoothies are high in sugars and fats. Another common offender, soda, is… Continue Reading