10 Secrets to Maximizing Your Social Security

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If you were retiring tomorrow, which monthly income would you rather receive: $1,543 or $3,895?

The $1,543 figure is the average monthly Social Security retirement benefit in 2021, while $3,895 is the maximum possible monthly benefit.

While the amount of your final Social Security benefit will depend on how much you earn over the course of your working career, it’s not the only factor. The simple things you do and don’t do while working can have a huge impact on your lifetime benefits.

It is important to understand how Social Security works as soon as possible. It’s why it’s so important to try different strategies as you get closer to retirement. There are many myths that you should dispel, and some tips you must understand.

This is the topic of this week’s episode of “Money!”. We’ll cover the basics of Social Security, and how to get the most out of it.

As usual, Miranda Marquit, a financial journalist, will be my co-host. Aaron Freeman, a novice investor and producer, will be listening in and occasionally contributing.

Sit back, relax and listen to this week’s “Money!” podcast:

  • Listen on Apple Podcasts
  • Listen on Google Podcasts
  • Listen on Spotify

Don’t listen to podcasts?

A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. These podcasts are great for learning and entertaining while you’re driving, doing chores, or riding your bike.

You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS.

If you haven’t yet listened to our podcast, please do so. You’ll be glad that you did.

Want more information? Check out these resources:

  • A Simple Way to Maximize Your Social Security
  • 10 Things That Can Ding Your Social Security Payments
  • 7 Social Security Myths That Can Cost You in Retirement
  • 6 Things Many Americans Get Wrong About Social Security
  • 9 Social Security Terms Everyone Should Know
  • 12 Ways to Maximize Your Social Security Checks
  • 5 Times When It’s Smart to Claim Social Security Early
  • How to Qualify for the Highest Possible Social Security Benefit
  • U.S. News & World Report: 10 Ways to Increase Your Social Security Payments
  • Investopedia: 5 Tips to Increase Your Social Security Check
  • Barron’s: 3 Ways to Maximize Your Social Security Benefits
  • Bankrate: 5 ways to maximize your Social Security benefits
  • Kiplinger: To Maximize Your Social Security Benefits, First Do Your Homework
  • Stacy’s stock portfolio
  • Subscribe to the Money Talks News newsletter
  • Take our course The Only Retirement Guide You’ll Ever Need
  • Take our course Money Made Simple
  • Miranda Marquit’s website

Disclosure: The information you read here is always objective. We may be compensated if you click on links in our stories.

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Stacy Johnson,https://www.moneytalksnews.com/10-secrets-to-maximizing-your-social-security/

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