40-Somethings Can Lift Social Security Benefits With 2 Moves
Updated
Updated · The Globe and Mail · Aug 13
40-Somethings Can Lift Social Security Benefits With 2 Moves
3 articles · Updated · The Globe and Mail · Aug 13
Summary
Two steps in your 40s can raise future Social Security checks: increase earnings and review your SSA wage record for mistakes.
Social Security calculates benefits from your 35 highest-paid years, so higher wages in midcareer can replace lower-earning years and boost retirement income.
SSA.gov records matter because missing or underreported earnings can shrink benefits; fixing errors may require W-2s, tax returns, or other documentation.
Annual record checks also provide a future benefit estimate that can serve as a planning baseline years before retirement.
The guidance adds an earlier-stage strategy to claiming-age decisions: benefits can start at 62, but claiming then cuts checks by 30% for workers with a full retirement age of 67.