5 Ways to Get Your Maximum Social Security

Most people look forward to retirement as a celebration of their lives and careers. You can make the most of your Social Security payment with these tips:

Work 35 years or more.
The payments are calculated based on the most amount of money that you made in 35 years of work. This means: if you haven't worked for the full 35 years that might result in lower payments. Any extra years over 35 years adds a bit of extra padding.

Try to work until your full retirement age, which is 67.
While this sounds like less than fun, you can receive benefits beginning at 62, but the benefits would be significantly reduced. It pays to be patient.

Delay claiming.
If you can wait three more years from your full retirement age, you can delay claiming your social security. This means bigger payments, to the tune of around 8% more.

Coordinate with your spouse.
You can claim more as a married couple, which is based on the higher earners' past income. If the spouse passes away, the surviving spouse also inherits the payment based on the higher earner.

Be cognizant of the Earnings Limit.
If you choose to sign up for Social Security before age 66, there might be repercussions. For example, you can lose a dollar from your payment for every two dollars you go over the Earnings Limit, which is $15,720 for 2015. When you turn 66, the Earnings Limit rises to $41,880—but you can lose a dollar for every three dollars you go over. Luckily, after age 66, you can earn Social Security and work with no penalty, which may result in a higher payment. There might be a silver lining to continue working after all!

In this economy, every little bit counts. We know the laws and will work for you to get the full amount that you are entitled. You can count on us—Contact us today for a free consultation.

McCarron Law Firm proudly serves the McLean County area. Located in downtown Bloomington we proudly provide Social Security Income and Social Security Disability assistance. We provide representation to clients throughout Central Illinois, including the communities of Normal, Carlyle, Eureka, Pontiac, Peoria, Champaign, Pekin, Lincoln, Lexington, Hudson, Heyworth and Clinton, as well as McLean County, Livingston County, DeWitt County, Woodford County, DeWitt County and Tazewell County. Call today to schedule your free consultation. 309-820-1010

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