Social Security: 3 Smart Ways to Get More Benefits

Social Security serves as a key source of income for millions of retirees nationwide. If you're hoping to maximize those benefits when it's your turn to collect, here are a few things you can do.

1. Hold off on filing for benefits

Many people rush to claim Social Security at 62 because it's the earliest possible age to file for benefits. But if you're looking to boost those monthly payments, you'll want to hold off as long as possible -- which means waiting until age 70.

Though your Social Security payments themselves are calculated based on how much you earned during your career, the age at which you first file for benefits can cause that number to go up, go down, or stay the same. If you start taking benefits at what's known as full retirement age, or FRA, you'll get your base benefit amount, so to speak, in full.

Here's what your FRA will look like based on the year you were born:

Year of Birth

FRA

1943-1954

66

1955

66 and 2 months

1956

66 and 4 months

1957

66 and 6 months

1958

66 and 8 months

1959

66 and 10 months

1960

67

 

Comments

Privacy Policy

Social Security: 3 Smart Ways to Get More Benefits is dedicated to protecting consumer privacy on the Internet. Our practices are consistent with privacy guidelines established by eTrust.com.

Social Security: 3 Smart Ways to Get More Benefits does not require any personal information to obtain access to our website.

Social Security: 3 Smart Ways to Get More Benefits does require limited personal information including name and mailing address from individuals wishing to join as members. Additional information such as e-mail address and phone number may also be requested in order that we may contact members in a timely manner on issues related to our mission.

You will only receive e-mail from us if you request to be added to our e-mail list. You may revise or remove your e-mail address from our files at any time.

Social Security: 3 Smart Ways to Get More Benefits uses "cookie" technology to obtain non-personal information from our online visitors, such as browser/computer type, number of visitors, and site usage. We do not use cookies to extract personal information.

Our website contains links to other sites, but Social Security: 3 Smart Ways to Get More Benefits does not necessarily advocate, support or condone the privacy practices or content of these websites.

Social Security: 3 Smart Ways to Get More Benefits makes all information received from our online visitors as secure as possible against unauthorized access and use. All information is protected by state-of-the-art security technology.

Social Security: 3 Smart Ways to Get More Benefits respects the individual privacy rights and concerns of visitors to our website. We support meaningful self-regulation of the Internet to ensure that responsible organizations maintain the right to use all communications media to interact with the public.