Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

Social Security Checks: 6 Ways to Get Maximize the Payments

April 28, 2023 · Budgeting
Social Security, check
Photo by Andrey_Popov from Shutterstock

#3 Don’t claim benefits too early

When you look at things from a more simplistic lens, the main thing that influences how big or small your checks are is when you end up claiming these benefits from Social Security. The general gist is that you can start claiming these payments shortly after you have turned 62, but at the same time, if you start taking them out, then your payments will be influenced by a penalty because you have not yet reached the full retirement age.

If you start taking Social Security checks at age 62, then your checks can end up being smaller by 20% to 30%, and they will never bounce back at the full sum even if you have reached full retirement age in the meantime.

If you know you can wait, it is advisable to do so if you want to maximize your checks. However, if you have no other choice, be it some unexpected illness, sudden unemployment, or any other unforeseen circumstances, you can always take them out. We just suggest you check for alternate solutions before going down this route.

Likewise, if you know you have an illness that will prevent you from living a long life, you should never wait too long before starting to take advantage of these benefits!

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • 8 Signs You Need a Trust, Not Just a Will 8 Signs You Need a Trust, Not Just a Will
  • An editorial illustration showing a tropical resort popping out of a legal contract locked with a heavy padlock. 9 Signs a Timeshare Isn't the Investment It Was Sold As
  • A retired couple reviews their tax documents and budget at a sunlit wooden kitchen table in a warm, candid photographic scene. 7 Signs Your Tax Withholding Needs Adjusting in Retirement
  • An editorial ink and watercolor illustration of a person pulling scattered financial assets from distant clouds into one central account. 8 Signs You Should Consolidate Old Retirement Accounts
  • An ink and watercolor illustration of a magnifying glass over a contract revealing hidden red exclamation marks and caution signs. 9 Signs a Financial Advisor Isn't the Right Fit
  • An older couple calmly reviewing financial paperwork together at a sunlit wooden kitchen table, shot on warm 35mm film. 7 Signs Your Emergency Fund Needs a Retirement-Era Update
  • An editorial illustration of an hourglass where golden sand representing wealth quietly leaks out of small side cracks, symbolizing fees. 8 Signs You're Paying Too Much in Investment Fees
  • A retired couple reviews physical financial statements together at a sun-drenched wooden table in a cozy home setting. 9 Signs Your Investment Portfolio Needs Rebalancing in Retirement
  • A cozy room with a vintage suitcase decorated with international stickers next to a sunlit armchair. 8 Countries Where Work History Can Combine With US Credits
  • An active retiree couple reviews a Southwestern map on a sunny wooden deck with distant hills in the background. 7 Mid-Size US Cities Seeing the Fastest Retiree Population Growth

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

sell

Earn Extra Income by Selling These 8 Items Online

Home Goods Small home appliances that everyone uses are another type of item that will…

Read More →
Social Security COLA

Social Security COLA 2025: Changes You Might’ve Missed

Social Security is a vital lifeline for millions of Americans and gives support during retirement…

Read More →
An older woman sits thoughtfully at her kitchen table looking at a paper bill in warm afternoon light.

What a Smaller COLA Could Mean for Your Budget

Learn how to adjust your retirement budget, navigate taxes, and handle rising Medicare costs following…

Read More →
Charming Place

7 Charming Places Where Retirees Can Live on a Tight Budget

Round Rock, Texas Cost of living for seniors: 5.9% below the national average State’s tax…

Read More →
freebies you need to grab now

10 Amazing Freebies You Need to Grab Now!

A hand reaches for an elegantly wrapped gift box, perfectly capturing the excitement of receiving…

Read More →
Easter on a budget

Celebrate Easter on a Budget with These 8 Hacks!

Brighten your Easter table with affordable DIY cardboard bunny garlands, fresh wildflowers, and a carton…

Read More →
smart habits

5 Smart Habits That Frugal People Use Daily

A person organizes bulk grains in glass jars, a simple yet effective habit for saving…

Read More →
Watercolor illustration showing a collage of retirement activities: hiking, theater binoculars, and movie tickets.

Entertainment Discounts for Retirees: Movies, Museums, and More

Maximize your retirement budget with actionable strategies for securing the best entertainment discounts on movies,…

Read More →

9 Free Things at Libraries You Never Knew About

A woman works on her laptop in a modern library featuring digital kiosks, meeting rooms,…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Contact
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Subscribe
  • Unsubscribe
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • Do not sell my personal information
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.