When it comes time to apply for Social Security retirement many United States citizens do not get as large a benefit as they would like. However, it is true that increasing the check we get each month is possible if we know how to do it.
What is certain is that there is the possibility of getting a check for $4,873 each month, but that is reserved only for a citizen who meets absolutely all the established requirements. What is certain is that if we follow certain recommendations we will find ourselves with a larger Social Security payment to enjoy the golden years as much as possible.
Maximizing your Social Security check
When planning for retirement payments in the golden years, there are three key elements to keep in mind. These three elements are key to having the best retirement check possible. If we do this, the Social Security Administration can pay us the biggest check within our means.
In this sense, we must take into account three aspects:
- Retirement age.
- The years worked.
- The salary at the time as a worker.
Although it is true that reaching the maximum payment of $4,873 per month is very difficult, the truth is that we are facing the possibility of reaching a very high check. To do this, we must be as close to age 70 as possible when we apply to Social Security for retirement. With this in mind, we must also work at least 35 years before retirement. Any work history figure below these years makes the payment much lower.
Finally, salary as a worker is also a key element. Ultimately, the calculation of our Social Security payment is made through the taxes we have paid as a worker. The more salary we have, the more taxes we pay. And, therefore, the more benefit we will get in the future.
Although the maximum payment is not for everyone, the truth is that we could get a good monthly check if we maximize these elements. If we have any doubts regarding what our monthly check will be we can always use the Social Security calculator or contact one of the offices.
Supplemental Social Security Checks
Americans who do not have a high Social Security benefit can always choose to apply for a supplemental check. The best known check, although it has certain requirements, is the Supplemental Security Income check. To request this monthly check, which can grant up to 943 dollars a month, two conditions must be met.
On the one hand, it is necessary to be 65 years old or have a disability. On the other hand, it is also mandatory to have a low monthly income. The payment of this benefit arrives to the current account on the 1st of each month, with some exceptions. If we get this monthly payment we will be able to enjoy a little extra money every month.