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Three Strategies to Boost Your Monthly Checks

Social security benefits are designed to replace forty percent of the pre-retirement income; however, many retirees depend on their benefits to cover most of their bills.

Chris Mcdonald

May 28, 2020

University of Florida

122

Three Strategies to Boost Your Monthly Checks

Most of the individuals retired, depending on their retirement checks, according to the social security administration. For these individuals, a lot is riding on social security, which can make or break your retirement plans.

Whether you rely on your social security benefits to make ends meet or you only want to increase the size of your checks, described below are some strategies that can help you to be successful.

Delay claiming benefits

One significant factor that can affect the size of the check is the age you claim it in. If you claim your check in the full retirement age, which is 67 years, you will receive the benefits you are eligible for.

However, if you want to collect a check that can afford your bills and extra payments, then you can delay claiming your benefits until after the full retirement age. This retirement bonus can be generous with an extra twenty-four percent each month if you wait to claim it at the age of seventy. If your age for retirement is before 67, then you can receive even a bigger check for your social security benefits. With this notion, it is important to keep in mind that if you wait beyond seventy, you won't receive any extra benefits by doing so.

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Delaying may be the smartest choice, but it is not for everyone. This is why it is important to find an advisor or representative such as Defenders for You and more to make sure you don't miss out on anything.

Work at least for 35 years

As mentioned above, claiming your security benefits before may affect on the amount you receive every month, another factor which may be able to add to your retirement check is the years you have served in working. Your basic amount is calculated based on your 35 earning years' experience. The social security administration averages your income based on those years and adjusts it for inflation, which results in your security benefits.

You can also benefit from working for more than 35 years and increase your income. You can replace the earlier years of your income and increase your income and higher average with a larger social security benefit amount.

Take advantage of all the benefits you're entitled to.

Most retirees are entitled to standard retirement benefits, but there are other social security benefits you may be entitled to, such as spousal, divorce, and survivors. Even if you have never worked a day in your life, but you may be eligible for your spouse's or former spouse's work records. To get the benefits, you must be married to someone who is eligible to receive retirement benefits.

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Survivors' benefits are a little different from spousal benefits as they are available for many different family members and not just spouses. If the deceased individual was entitled to receive benefits, the widower or widow is eligible to claim the security benefits after 60 or more.

Divorced spouses can also claim the survivor's benefits. Not just that, the children, parents, and other family members in certain circumstances.

The social security might not typically notify you if you are eligible for these benefits. Make sure to do your research and apply for the benefits, so you don't miss out on extra cash. If you are slim going to retirement, you may end up depending on social security benefits to make ends meet.

Recent published work:

https://www.ebaumsworld.com/blogs/three-strategies-to-boost-your-monthly-checks/86279951/

https://www.linkedin.com/pulse/three-strategies-boost-your-monthly-checks-haripal-singh

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.

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Three Strategies to Boost Your Monthly Checks

Social security benefits are designed to replace forty percent of the pre-retirement income; however, many retirees depend on their benefits to cover most of their bills.

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The Best Lines from the Fab Four

And in the end, the love you take is equal to the love you make

The sun is up, the sky is blue, it's beautiful and so are you

Love is old, love is new, love is all, love is you

There's nowhere you can be that isn't where you're meant to be

Life is very short, and there's no time for fussing and fighting, my friend

He say, "I know you, you know me", One thing I can tell you is you got to be free

Oh please, say to me, You'll let me be your man. And please say to me, You'll let me hold your hand

It was twenty years ago today, Sgt. Pepper taught the band to play. They've been going in and out of style, but they're guaranteed to raise a smile

Living is easy with eyes closed, misunderstanding all you see

Can you hear me? When it rains and shine, it's just a state of mind

Little darling, it's been long cold lonely winter. Little darling, it feels like years since it' s been here. Here comes the sun, Here comes the sun, and I say it's alright

We danced through the night and we held each other tight, and before too long I fell in love with her. Now, I'll never dance with another when I saw her standing there

I love you, I love you, I love you, that's all I want to say

You say you want a revolution. Well you know, we all want to change the world

All the lonely people, where do they all come from. All the lonely people, where do they all belong

Oh, I get by with a little help from my friends

Hey Jude, don't make it bad. Take a sad song and make it better

Yesterday, all my troubles seemed so far away. Now it looks as though they're here to stay. Oh, I believe in yesterday

And when the brokenhearted people, living in the world agree, there will be an answer, let it be.

And anytime you feel the pain, Hey Jude, refrain. Don't carry the world upon your shoulders

I'll give you all I got to give if you say you'll love me too. I may not have a lot to give but what I got I'll give to you. I don't care too much for money. Money can't buy me love

All you need is love, love is all you need

Whisper words of wisdom, let it be

Blackbird singing in the dead of night, Take these broken wings and learn to fly. All your life, You were only waiting for this moment to arise

Though I know I'll never lose affection, for people and things that went before. I know I'll often stop and think about them. In my life, I love you more

Obviously the best superpower.

There have been many lessons learned.

1. The importance of traditions.

2. How to be thankful for family and friends.

3. How to give back.

4. What the word "community" really means.

5. That it isn't about the destination, but the journey.

6. The consequences of making bad choices.

7. To trust people, until you have a reason not to.

8. To be welcoming and accepting of everyone.

9. How to be my own, individual person.

10. How to work for what I want.

11. How to be great at giving directions.

12. How to be humble.

13. To be well-rounded.

14. How to be great at conflict resolution.

15. The beauty of getting outside and exploring.

16. To be prepared for anything.

17. That you don't always have to do it alone.

18. How to be creative.

19. To brush off gossip.

I have never been so thankful to know you.

Dealing with the inevitable realities of college life.

Don't freak out

Email the professor

Attend the first class

Keep attending class

Have a backup plan

Remember that everything works out at the end

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