Boost Your Social Security Income: 5 Surprising Strategies You Might Not Know. 

Delayed Retirement

For each year you delay claiming benefits up to age 70, you earn delayed retirement credits, resulting in a higher monthly payout.

Suspend Strategy

One spouse can file for benefits and then suspend them, allowing the other spouse to claim spousal benefits while both individuals continue to earn delayed retirement credits.

Spousal Benefit

Understanding the rules and timing for spousal benefits can help maximize overall household income.

Claiming Widow

If you're a widow or widower, you may be entitled to survivor benefits based on your deceased spouse's work record. Claiming these benefits strategically can enhance your overall Social Security income.

Maximizing Earnings

By strategically working additional years or replacing low-earning years with higher-earning ones, you can increase your average indexed monthly earnings (AIME), leading to a higher benefit.

Benefit Reevaluation

Periodically reassess your Social Security claiming strategy, especially if there are changes in financial circumstances, health, or life expectancy, to ensure optimal benefit collection.

Taking Advantage

Stay informed about legislative changes, such as potential repeals or modifications to the Windfall Elimination Provision, which may impact Social Security benefits for certain individuals with pensions.

Maximizing Survivor

Understand the rules for survivor benefits, as maximizing these benefits is crucial for widows or widowers. Claiming survivor benefits strategically can significantly impact long-term income.

Voluntary Suspension

Individuals who reach full retirement age can voluntarily suspend their benefits, allowing them to earn delayed retirement credits, leading to higher monthly payments when benefits are resumed.

Leveraging Inflation

Explore the possibility of using a portion of your retirement savings to purchase inflation-adjusted annuities, providing a steady income stream that complements Social Security benefits.