4 Simple Ways to Increase Your Social Security Benefit

Do you want to get the most out of your Social Security benefit? In today's video, you'll learn how Social Security is funded and how you can maximize it.

Timestamps:
00:00 - Introduction
1:00 - How Social Security Works
2:03 - Indexing For Inflation
3:00 - Earnings Are Means Tested
4:20 - Understanding Your Social Security Benefits
5:20 - Primary Insurance Amount
6:25 - Importance of 35 Years
7:43 - Delayed Retirement Credits
8:34 - Spousal Benefit
10:16 - Understanding Survivor Benefits
11:07 - Tax Planning & More!

Learn the tips & strategies to get the most out of life with your money.

_ _

For more resources and content, check us out below!

Other videos we think you'll like:

[tonyfontana]

I have a friend who had 3 brothers all passed away before collecting SS. They all paid into the SS all their working years. None of them were able to collect a dime. I'm taking my SS at 62. Tomorrow is not a guarantee!

[joanoconnor]

This should be taught in all high schools. You do a great job explaining the complexities of social security that probably 90% of Americans don't know.

[tommynikon]

67 here, still working (self) and part of my Master Plan was to NOT draw upon SS until at least 67. I said that in my twenty's. I could now, but why?; by waiting an additional (3) years, I gain 25% in added monthly payment amounts. THAT for me, in my situation, IS worth it. Besides, longevity runs in my family: my dad is 93.

[juliepayn]

Great explanation. I've never heard anyone describe it so well. Thank you.

[proudmoon]

I have done a lot of reading & watched a lot of videos about Social Security benefits lately, and you are the first person I have heard mention let alone explain the "means testing" aspect of benefit calculation. As someone who is a bit short of 35 years' work history and hoping to cut back my work schedule for health reasons, this is very helpful information! Thank you!

[j.pejoro]

You're the only person who I clearly understood on how to maximize Social Security benefits. Wish I have seen this before I applied for early retirement. Thank you anyway. I'll be watching all your videos from now on.

[OroborusFMA]

They really need to eliminate taxes on Social Security. It's double taxation and the itself was pure nonsense that working class Americans should have revolted against.

[janethunt]

Very, very helpful. I did not realize that my little part time job was actually helping my SS benefit calculation A LOT.

[tigereyes]

Excellent video. Everything explained so easily and without any fillers
Good job

[rykhnvy]

Excellent video. Everything explained so easily and without any fillersGood job. Excellent & simple explanation- Thank you young man..

[AmericanPie]

Yea, well I made mistakes in my first 20 years and paid in way less than my final 20 so my benefit isn't as much as it could be. BUT you can also move abroad, to places like Thailand, Philippines, Costa Rica, where you can quadruple or even more your Social Security's value instantly. I started collecting at 62, when I retired and decided to move to Thailand. I didnt want to keep working until 67-70 in order to afford a decent retirement while living in some less than desirable state in the US(sorry Texas, Arizona, Idaho). I decided I'd rather start living a good life in retirement by leaving for a country where cost of living is way lower even while standard of living went way up! I live in a seaside condo for less than 500$ a month and my total expenses each month are less than 1500! And my SS covers 90% of that! So it depends but leaving the US, which isn't as hard as one may think, is what many retirees are doing these days!

[carolwilliams]

Your calm methodical way of presenting detailed information was great. Thank you.

[Calventius]

At first I thought that briefing was to simple but then later decided it was brilliantly organized

[Rathod-ldtk]

Excellent & simple explanation- Thank you young man.

[janetvalencia]

One item to note that is not readily known to people: If you are a widow, you can collect your deceased spouse's social security benefits starting at the age of 60. You can continue to grow your own until full retirement age and change afterward if the benefit is higher. It is a great relief for some widows.

[AllThingsWagner]

Wow!! Best video on the internet on this subject!!! Thanks for taking the time to share this info for free.

[madisonpruet]

I delayed for several years and glad that I did. Not only did that increase my base SS, but now the COLAs give a much larger dollar amount since it’s based as a percentage on your current benefit. So my COLA is much larger than it would have been if I had starter earlier.

[lesliephilp]

You sir are a natural teacher and a genius

[Rathod-ldtk]

Young man. Thank you. Stay Blessed. Stay. Amazing

[mariareed]

Very professional and knowledgeable explanation.
Thank