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3 Surefire Ways to Grow Your Social Security Paycheck
Maurie Backman notes that the money you save for retirement in an IRA or 401(k) plan could run out at some point. Social Security, however, is guaranteed to pay a monthly benefit for life. For this reason the higher a paycheck you score, the more financial security you’ll buy yourself, no matter how long your retirement lasts. To do this, Backman advocates boosting earnings with a side gig. Second, she says delay your filing as long as possible (to age 70 if feasible). Third, correct errors on your yearly earnings statements. Folks should go on-line regularly to view theirs. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.