Как пожилые люди могут максимально увеличить выгоды от социального обеспечения?

Many retirees leave thousands of dollars of Social Security benefits on the table without even knowing it. Social Security is a system that offers numerous choices, which can significantly impact the amount you receive. The key to maximizing Social Security is understanding how to time your claim, factoring in your work history, and exploring options like spousal or delayed retirement credits. 

With the right moves, seniors can maximize Social Security benefits and build greater financial security. Here’s a look at practical strategies to make the most of your Social Security income and common mistakes that can lead to losing many thousands of dollars over time.

8 Ways Seniors Can Maximize Social Security Benefits

These strategies can help stretch your Social Security benefits:

1. Delay Claiming Benefits Until Full Retirement Age or Later

One way to boost your Social Security payments is to wait until you reach full retirement age (FRA) or later. You can start collecting benefits as early as age 62, but doing so reduces your monthly income by as much as 30 percent.

Conversely, every year you postpone your benefits past FRA (up to 70), your monthly benefit grows by about eight percent yearly. If you are in good health and can pay your bills with savings or part-time jobs, waiting can pay off significantly in the long run.

2. Coordinate Spousal Benefits Strategically

A married couple can increase their total Social Security benefits in a variety of ways. For example, a lower-earning spouse can claim a spousal benefit worth up to 50% of the other spouse’s full‑retirement‑age benefit if the higher-earning spouse waits to claim their own benefit until full retirement age.

Timing is also important here because delaying claiming benefits can increase the surviving spouse’s benefits, even when the higher-income spouse dies. Some divorcees may be eligible for spousal benefits based on the ex-spouse’s work record, provided certain requirements are met.

3. Understand How Work Affects Your Benefits

Working during retirement is a great way to keep busy and make some extra money. But if you claim benefits before reaching full retirement age (FRA) and are still earning more than a certain amount, your benefits may be temporarily reduced.

Besides the financial benefits, many people who work part-time during retirement enjoy a sense of purpose and the social connections that come with a job. Just be aware that you may temporarily lose some monthly benefits by working.

4. Maximize Lifetime Earnings Before Retirement

Your Social Security income is based on your top 35 earning years. If you have a lot of low-income years (including years where you didn’t work at all), they can pull your average down. But working part-time, even for just a few years, can help you replace some of those lower-earning years for higher ones.

It’s particularly helpful if you took a break from working to care for a family member, were ill, or had other obligations. Adding a few more years to your work history can only add more weight to your record, and won’t ever reduce your benefits. That can result in a noteworthy increase in your monthly benefit.

5. Take Advantage of Survivor Benefits to Maximize Social Security Benefits

Survivor benefits can be a valuable source of income following the loss of a spouse. If your spouse earned a larger paycheck than you did, you may be able to receive their full benefit instead of yours. You can start receiving benefits at age 60 (or 50 for individuals with disabilities), but taking benefits earlier results in decreased monthly payments.

It is important to consider the timing here, as the longer you wait, the more you will get per month. Widowed seniors should carefully evaluate which benefit is more advantageous — their own or the survivor’s. Survivor benefits are often overlooked, but they can make a big difference.

6. Watch Out for the Social Security Tax Trap

Seniors are often surprised to learn that their Social Security benefits are considered taxable income. In fact, up to 85% of Social Security benefits are included in your income tax calculation if you file a Federal tax return as an individual and your combined income exceeds $25,000.

You can minimize the tax impact by lowering your withdrawals from IRAs or pensions, among other income streams. Lowering your taxable income can keep more Social Security dollars in your pocket. Simple lifestyle changes, such as cutting discretionary spending or learning how to reduce utility bills, can help you manage on a lower income while avoiding higher taxes.

7. Use the “Do-Over” Rule if You Claimed Too Early

If you started collecting Social Security and later realized it was too soon, you may get a second chance. The SSA gives you a one-time opportunity for a do-over. You can ask to withdraw your application and return the benefits you’ve already received, then restart your claim at a higher rate.

This window only opens once, within 12 months of the original claim. If your financial circumstances have improved or you’ve returned to work, it can be a smart long-term move. It’s not for everyone, but for those who qualify, it can result in a significant long-term benefit increase.

8. Know How Divorce Affects Your Eligibility

If you are divorced, you may be eligible to claim Social Security benefits based on your ex-spouse’s work record. This can be a significant advantage, and it will not reduce your ex-spouse’s Social Security benefits or the benefits of their current spouse. To qualify, your marriage must have lasted at least 10 years. You must also be unmarried and at least 62 years old.

These benefits can be as much as half of your ex’s full retirement benefit. In some cases, you might even qualify for survivor benefits if your former spouse dies.

Most people never consider this possibility, but if you qualify, it’s a financially savvy way to increase your income, especially if you’re dealing with financial hardship.

Final Thoughts on How to Maximize Social Security Benefits

Social Security is more than just a monthly check. It’s a valuable asset that can help shape your financial future. By understanding the rules, timing your benefits wisely, and exploring lesser-known options, you can maximize Social Security benefits. A few smart decisions today can help ensure a more comfortable and secure retirement tomorrow.