Several Tips For Increasing Social Security Benefits
February 22nd, 2013|
February 22, 2013
The Social Security Administration reports there are currently an estimated 62 million recipients of both Social Security Disability and retirement benefits. Yet, many of those individuals are still unable to make ends meet with what they are provided. This leaves many recipients wondering, “What can I do to make sure I get as many benefits as possible?”
Forbes Magazine presented this question to Social Security expert Laurence Kotlikoff. He responded by offering three tips that could easily increase a beneficiary’s lifetime Social Security award.
The first thing to remember when deciding on which benefits to take is to choose a package that will offer a larger payout over a shorter period of time. This is because Social Security decreases benefits when they are taken early and increases payments when benefits are taken later in life.
Secondly, a beneficiary should accept any spousal or survivor benefits that are offered. This will only increase the amount of the award given at no penalty to the recipient.
Finally, make sure that the first tip does not interfere with the second’s progress, and vice versa.
The Social Security Disability Lawyers with the law firm of Fleschner, Stark, Tanoos & Newlin recognize how confusing it may be to choose the benefits that are right for you. That is why the firm suggests discussing your case with a qualified attorney who may be able to help point you in the right direction.