The pension system in the United States requires prior work on the part of the citizens who are going to apply for retirement. Not just any American can have a monthly check from Social Security. In order to obtain a payment from this Administration, it is mandatory to do several things before reaching the age of 62.
Also, even if we do this, it does not mean that we will get a good check. In this sense, in order to obtain a retirement benefit we must meet certain minimum objectives. The first of these objectives is to reach the age of 62. This is the minimum age to apply for old-age retirement. The second of these requirements is to have worked for 10 years.
It is not necessary to have worked those ten years in a row. It can be throughout your life before you reach 62 years of age. Even so, the check you get this way is very low. This is because we will not optimize everything related to retirement. Although there are no magic tricks to increase the monthly Social Security check, some tips can be used to increase our amount every month.
TIPS FOR INCREASING YOUR MONTHLY RETIREMENT CHECK
There are three common tips for a better retirement. These tips can increase our check to as much as $4,555 per month. And the bottom line is that, at the end of the day, we have to give the Social Security Administration compelling reasons to give us one of these very large checks.
These three tricks are individual, but we must combine them to get that long-awaited maximum check. Let’s look at these three tricks that will maximize our Social Security retirement check.
CHOOSING YOUR RETIREMENT AGE
The age is critical to having a good check. If we don’t choose our retirement age wisely, our benefit will be much lower. As we have already mentioned, we can request retirement age check as early as age 62, but this will subtract a lot of money from our pensioner’s pension.
The later we apply for a Social Security check, the better. The most ideal age to do so is 70 years old. If we apply for the pensioner’s pension at this age, the check could reach the maximum amount of 4,555 dollars. Otherwise, it is impossible to get it.
WORKING FOR 35 YEARS
The Social Security check is calculated on the basis of the 35 years worked with the highest salary. This means that if we do not work for 35 years before retirement, the check will be much smaller.
Each year not worked below that number will cause the average check to decrease tremendously. So work those minimum years before you even think about applying for a check.
HAVING A GOOD SALARY BEFORE RETIREMENT
Salary is also another key to having a good Social Security check in the future. The higher the salary, the higher the final retirement. The pensioner’s checks depend on the taxes we have paid. So the higher our salary the more taxes we pay.
This will cause the retirement check to go up. So couple this tip with the other two and you can have the best Social Security benefit possible. While getting to $4,555 may not be easy, getting close to it is entirely possible.