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3 Steps To Increase Social Security Benefits

Increase Social Security By Simply Working, Earning More And Delaying Retirement


You can take steps to increase the amount of Social Security you will receive. They may not always be the steps you want to take, but keep in mind Social Security is one source of guaranteed income that will also increase with inflation, so a small increase in your initial benefit will result in a proportionately larger benefit each and every year.

Any of the steps below will have a positive impact on what you receive; implement all three steps and you’ll be able to significantly increase the amount of Social Security benefits you are eligible to receive.

1. Make Sure You Have A Full 35 Years Of Work History

Social Security uses your highest thirty-five years of work history to calculate your social security retirement benefit. Make sure you have a full 35 years of work history in to maximize your benefits.

2. Max Out Social Security Earnings

Not surprisingly, the higher your earnings, the greater your retirement benefit will be. Note, however, that earnings over the annual limit ($106,800 in 2011 and $110,100 in 2012) are not considered in your benefits calculation.

3. Use Delayed Retirement Credits To Increase Social Security By 25% Or More

Want to increase your Social Security retirement income by 25% or more? Wait to apply for benefits and you will accumulate delayed retirement credits. This works because once you reach full retirement age, your benefits do not cap out. As a matter of fact, for each year after full retirement age that you delay taking benefits, you will accumulate a permanent increase in your benefits of 5-8% a year.

Married? See 4 Social Security Strategies to Increase Your and Spouse's Combined Benefits.

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