Social Security benefits are an important part of many people’s retirement finances. Because of this you want to be able to maximize the benefits that you are going to be receiving. Here are some tips that will help you maximize your benefits.

Working Longer

The simplest way to maximize your benefits is to continue working into your sixties. Delaying the start of your benefits until age 70 will ensure that you are getting the most money that you possibly can when you do retire.

Paying it Back

If you do decide to begin your benefits early but then change your mind all is not lost. If you do change your mind you can choose to pay back everything that you have received from the time you started until the time you suspend your benefits. This then resets the clock and makes it like you never started receiving your benefits in the first place. This also means that when you do retire, you will start getting paid as if you had never retired early in the first place! Remember that this benefit only applies within the first year of starting to receive a Social Security benefit.

Spousal Benefits

Some tips on collecting spousal benefits:

  • There is no additional benefits to waiting to start collecting spousal benefits after reaching full retirement age
  • There is no advantage to waiting to start collecting survivor benefits after you reach your full retirement age

Contact Stano Law group for any legal issues with Social Security benefits or retirement.