Five Strategies to
Maximize Social Security

Maximizing Social Security


Social Security benefits are an important source of income for many retirees. They are designed to provide monthly income to eligible workers, along with their spouses, dependent children, and survivors. According to an annual survey conducted by the nationwide Retirement Institute of U.S. adults over the age of 50 who are retired or plan to retire in the next 10 years, 26 percent of respondents believed that Social Security on its own would provide enough funds to help them live comfortably in retirement1. While these benefits typically serve as a base of retirement income for many older retirees, the purpose of Social Security is not to completely replace all your earnings and provide a comfortable lifestyle. Instead, the true intent of Social Security is to help fill in any income gaps and meet your most basic needs in retirement.

The same survey showed that only eight percent of U.S. adults who are nearing retirement were able to identify the factors that determine a maximum Social Security benefit. As you approach retirement, it could not be more important to understand these factors and develop a comprehensive plan to maximize your benefits. This guide will outline some of the important factors to include in your broader plan, as well as a few words of caution to keep in mind. The strategies outlined in this publication are not all solely meant to increase your monthly benefit. Instead, remember that the primary goal is to maximize your Social Security benefits by striving to get the most out of them instead of potentially leaving money on the table.

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