Get the Most Out of Your Social Security In 2026

"70.6 million people receive benefits from programs run by the Social Security Administration. In fact, at least 40% of older Americans rely solely on Social Security for retirement. However, very few people know there are strategies to maximize your Social Security benefits. Understanding how Social Security operates can help you increase your monthly payout and secure a more comfortable retirement. This article will outline eight key strategies to assist you in maximizing your benefits and making the most of them."

"Your benefits are based on a complex formula that considers your highest 35 years of indexed earnings. This means that if you don't work for 35 years, the years you didn't work will count as $0s, significantly reducing your benefit. Let's say that you only worked for 30 years and have 5 years with no earnings on your record. Those 5 years will be counted as $0s, in your earning history, significantly lowering your AIME and, ultimately, your monthly benefit."

"You can start collecting Social Security as early as 62, but this will permanently reduce your monthly benefit. Sometimes, claiming at 62 makes sense, but for most people, it's best to wait until your full retirement age. Social Security is designed to provide you with a specific amount of income throughout your retirement. By claiming early, you're essentially receiving a smaller portion of your total benefit over a longer period."

70.6 million people receive Social Security benefits and at least 40% of older Americans rely solely on Social Security for retirement. Benefits are calculated from the highest 35 years of indexed earnings using AIME; missing years are counted as zeros and lower monthly payments. Working at least 35 years or adding part-time work fills gaps and raises benefits. Claiming as early as 62 permanently reduces monthly payments, while waiting until full retirement age yields the full benefit and can lead to larger payouts. Delaying beyond full retirement age can further increase monthly benefits through delayed retirement credits.

Read at 24/7 Wall St.