How to Boost Your Social Security Benefits

A s a retiree, you have various ways by which you can boost your social security benefits. While some of the ways are hidden to many people, with a little more information about them, you can simply fetch an increased sum from the social security package. It is advisable to remain on top of your financial information so you can reap maximum benefits from the social security package, which you can do by engaging qualified experts to shed more light about the social security package and how you can benefit more from it. Whether you are single, married, or divorced, there are ways by which you can maximize benefits from your social security package. This article outlines four ways by which married couples can boost their benefits. With social security benefits, it is possible to apply earlier at the age of 62 and receive about 25% of the total benefits at full retirement age. Alternatively, you can delay your retirement and quit your career at age 70, upon which you can claim more than your stipulated benefits at full retirement age. For couples, the following strategies can apply. • Claim now and claim later method: at the age of 62, you can claim and receive your retirement benefits and then repay the received amount later and reapply for an increased monthly benefit. In this situation, you can use the benefit payments and claim a tax refund upon repayment to boost your benefits. • Two-claim approach method: this method can benefit two working spouses where one chooses to claim spousal benefits at full retirement age while another spouse continues to work and accumulate higher benefits for his or her account. • Claim early- claim late method: in this scenario, one couple can choose to retire early and collect reduced benefits while another continues to work. Alternatively, a person can choose to retire late and claim more from the social security package. • Suspend claim for spousal benefit: this method is similar to claim early-claim late approach and can lead to increased social security benefits as well. In the end, you can benefit greatly from experts that offer valuable information on how to grow your social security benefits.