How to Maximize Social Security Benefits
Calculate how much you would gain by waiting.. Weigh the benefits and costs of waiting.. Work as you wait.
Steps
1
Calculate how much you would gain by waiting.
Calculate how much you would gain by waiting.
2
Weigh the benefits and costs of waiting.
Weigh the benefits and costs of waiting.
3
Work as you wait.
Work as you wait.
4
Understand who may claim spousal benefits.
Understand who may claim spousal benefits.
5
Calculate your own benefit.
Calculate your own benefit.
6
Don't apply for more than one benefit.
Don't apply for more than one benefit.
7
Apply for a spousal benefit.
Apply for a spousal benefit.
8
Understand "Filing and Suspending.
Understand "Filing and Suspending.
9
Consider the following hypothetical.
Consider the following hypothetical.
10
Follow this strategy if you are healthy.
Follow this strategy if you are healthy.
11
Call Social Security at 800-772-1213 to suspend.
Call Social Security at 800-772-1213 to suspend.
12
Start receiving payments at 70.
Start receiving payments at 70.
13
Understand benefits for dependents.
Understand benefits for dependents.
14
Understand family maximums.
Understand family maximums.
15
Qualify for an adult disability.
Qualify for an adult disability.
16
Apply for benefits.
Apply for benefits.
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