How To Get A Bigger Social Security Check

The Social Security avalanche started about 18 months ago when the first baby boomer filed for benefits.  An estimated 10,000 people per day are now claiming their Social Security benefits as they become eligible, and most of them are filing as early as possible, age 62 for most.

This could turn out to be a terrible financial mistake, as the reduction in benefits for filing early is as high as 25% and is permanent - ie, once you start getting benefits, you can't change your mind (with 1 exception).  For example, if your Social Security benefit is $2000 per month at full retirement age but you elect to file early, your benefit is permanently reduced by $500 per month.  And since joint life expectancies (husband and wife) can take people well into their late 80's, this can amount to a huge difference over a lifetime.

When it comes to Social Security, the choices you make during the application process determine whether or not you'll get the full benefits you are entitled to, so its important to get it right on the first try.  And sadly, if you rush through their application, there are few options to "fix" your mistakes after you realize how much unclaimed money was left behind.

Like any government program, you either get it right the first time or suffer through an endless process of appeals and waiting games.  There is a one time “do-over” if you catch your mistake quickly, but its best to take the time and get it right the very first time.

There are dozens of filing strategies all depending on if you are married, single, widowed, or divorced.  You should also know there are penalties and taxes on Social Security benefits depending on your age, earned income, and adjusted gross income.  These are just a few considerations that need to be addressed BEFORE you file.

I recommend you approach filing for benefits just like doing your taxes.  Spend some time looking at all your options, and have an expert look at your decision.  The Social Security employees won't even tell you about some of the most advantageous filing options, so you need to know what questions to ask.

To attend a presentation titled "How To Get More Social Security Income - 6 Ways To Get A Bigger Social Security Check In In Retirement" go to www.SocialSecurityResources.info or call 1-800-331-2479 (24 hour recorded message)

The presentation is at the Perry Hall Public Library (9685 Honeygo Blvd) on Thursday, June 14th from 6-7 pm.  The cost to attend is $10 per person/couple and includes a Social Security Benefits Workbook and Social Security Survival Guide.  

The event fills up quickly and is limted to 25 people, so if if there are no seats available you will be put on a waiting list.

(this presentation is specifically for people who are within 5 years of collecting Social Security benefits - age 57-62)