9 Strategic Steps to Supercharge Your Social Security Income

Social Security makes up 31% of income for individuals over age 65, according to the Social Security Administration (SSA). With so many relying on this income, those receiving payments on the lower end may be at risk of not having enough money to cover living expenses, leaving them financially vulnerable.

If there is a likelihood that your Social Security benefits will be a primary source of income when you retire, maximizing your benefits is the key to ensuring comfort and stability in retirement. There are a few different ways to accomplish this.

1. Work for 35 Years

To calculate your Social Security income, the SSA uses your highest earnings over 35 years, or your average indexed monthly earnings (AIME). If you don’t have 35 years of work history, the SSA will use zeros for missing years, which reduces your benefit amount.

You can get ahead of things and avoid surprises by working longer or seeking a higher-paying job. By continuing to work and earn a higher salary, you can replace lower-earning years and increase your benefits.

And if you’re self-employed, it’s especially important to ensure your income is accurately reported.

“If you’re self-employed, be sure to report enough earnings to qualify for Social Security credits. Some business owners lower their taxable income to reduce taxes, but this can also reduce their future Social Security benefits,” said Matt Harris, safe money analyst at Red Stone Retirement.

2. Wait for FRA

When you choose to retire can significantly impact your benefits. The earliest you can qualify for Social Security benefits is at age 62, as long as you’ve paid Social Security taxes for a minimum of 10 years. With the drawback of applying for benefits at this age being that you’ll receive reduced payments, it might be worthwhile to wait.

“Many individuals opt to start receiving Social Security benefits at the earliest eligible age of 62. While this provides immediate income, it results in permanently reduced monthly benefits. Given increasing life expectancies, it’s crucial to plan for a retirement that could span several decades. Additionally, with rising medical and living expenses, prematurely claiming benefits may lead to financial shortfalls in later years,” Harris said.

As of 2025, retiring at full retirement age (FRA), between 66 and 67, would pay out $4,018 per month, while retiring at 62 would pay out $2,831. However, if you apply at the cutoff of age 70, your benefits payments will be higher, coming in at $5,108. This is due to you earning delayed retirement credits, which increase your benefits each year depending on your birth year.

“Waiting beyond full retirement age (up to age 70) increases monthly payments by about 8% per year. This can significantly boost lifetime income, especially for those with longevity in their family,” Harris told Investopedia.

3. Apply for Spousal Benefits

If you’re married, you can increase Social Security benefits through your spouse. Let’s say your spouse has earned significantly more than you over the years and is expected to receive a higher benefit. As the lower-earning spouse, spousal benefits allow you to receive up to 50% of their Social Security benefits once you reach FRA.

This option is also extended to ex-spouses who were married for at least 10 years.

4. Apply for Dependent Benefits

While spousal benefits offer you the chance to claim 50% of your spouse’s Social Security income, dependent benefits allow you to claim as a dependent of a worker who has retired or become disabled. This can include a spouse, ex-spouse, and children.

How much you are eligible to receive depends on the relationship with the worker.

5. Apply for Survivor Benefits

“Married couples can optimize benefits by strategically timing when each spouse claims. For example, one spouse may claim earlier while the other delays to maximize survivor benefits,” Harris said.

Survivor benefits are paid to the spouse, ex-spouse, dependent parents, and children of a worker who has died. The SSA considers the deceased worker’s work history when determining the monthly payment, with the recipient receiving 71.5% to 100%, depending on their age and relationship to the worker.

6. Monitor Your Earnings

As mentioned, the SSA uses your earnings to determine your benefit amount. It would be a good practice to start keeping track of your annual earnings.

This works in your favor if you have years of lower earnings. You’ll have time to pivot and make the choice to work a few more years or find a higher-paying salary to replace lower-earning years and maximize your Social Security income.

7. Watch Your Tax Bracket

Be mindful of your income once you start collecting your Social Security benefits. If it exceeds a certain amount, you could end up owing. The annual threshold is $25,000 for single or head-of-household filers and $32,000 for joint filers.

“Managing withdrawals from different accounts (like tax-free options) can help keep more of your Social Security benefits in your pocket,” Harris explained.

In addition to withdrawals from your IRA or 401(k), reentering the workforce after retirement can also put you at risk of your Social Security benefits being reduced.

“Some retirees return to work due to insufficient retirement savings or rising living costs. However, if you’ve claimed Social Security benefits before reaching full retirement age and continue to work, your benefits may be reduced if your earnings exceed certain limits. In 2025, for those under full retirement age, $1 in benefits will be withheld for every $2 earned over $23,400,” Harris said.

8. Check Your Social Security Earnings

The SSA keeps an online record of your earnings, which you can review. If you keep track of your annual earnings, you can compare what the SSA has to your records.

Although Social Security payments have an over 99% accuracy rate, it doesn’t hurt to keep an eye on what is being reported as an extra measure. If you’re decades away from retirement, this gives you time to catch and address any errors and avoid any future miscalculation of your benefits.

9. Halt Benefits

If you start receiving benefits early and soon realize that you might need to earn more to ensure you can cover living expenses, you can pause your payments if you have reached your FRA but are not yet age 70. You’ll still earn delayed retirement credits, increasing your monthly payment the longer you wait to restart payments.

The Bottom Line

What you do today can impact your Social Security and so much more in your retirement. It’s important to understand what factors impact your Social Security income, especially when you want to ensure you can make the most of it. With that understanding, you can successfully apply these strategies to enhance your retirement income and provide greater financial security in your later years.