Individuals planning to retire in 2028 can take steps to increase their Social Security benefits by working additional years and delaying claims. These strategies can enhance post-retirement income without significant market impact.
- Social Security benefits are calculated based on the 35 highest-earning years, adjusted for inflation.
- Working additional years in high-paying jobs can replace lower-earning years in the calculation.
- Delaying the claim for benefits increases the payout, with maximum benefits achieved by waiting until age 70.
- Part-time work or side hustles in the years before retirement can boost income and delay benefit claims.
- Strategies like seeking raises or overtime can enhance pre-retirement income and future benefits.
- These tactics help maintain lifestyle post-retirement without liquidating assets.
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