Social Security: Tips on increasing your retirement benefits

Millions of Americans retire and collect Social Security payments each year, but there are ways you can increase those benefits.

social security card with check representing social security benefits

Social Security was designed to only cover around 40% of your previous salary.

This means you’re expected to have some sort of plan to supplement the rest of your income, like a nest egg.

While this is ideal and expected, many retirees end up living off of their Social Security payments entirely.


This means you’ll want to boost your payments as much as possible, and there are a few ways to do this.

Here are 4 ways to increase your Social Security payments

First, you could move to a state that doesn’t subject your benefits to income taxes.

Many people choose to move when they retire, and choosing an option like that could save you money yearly.


There are 12 states that currently tax Social Security benefits

  • Colorado
  • Connecticut
  • Kansas
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • New Mexico
  • Rhode Island
  • Utah
  • Vermont
  • West Virginia

Will Michigan residents see a $1,000 retirement benefit boost?

This means relocating out of one of these states if you currently live there could be ideal for saving money.

Next, you could invest in a Roth account, because withdrawing from the won’t count as combined income with your Social Security income.

You could choose to work a few extra years and boost your wages.


Delaying retirement past your full retirement age will also boost your benefits up until the age of 70.

At 67 you can retire with 100% benefits, but for each year until age 70 you could see an 8% increase.

Finally, utilize all Social Security benefits you’re entitled to.

This includes spousal benefits, divorce benefits, or survivors benefits.

It may be a situation where those benefits are worth more than your own.