Social Security Trust Fund is expected to dry out within 10 years
The main trust funds used to pay Social Security benefits are projected to run out by 2033 if lawmakers do not make changes to the system.
Straight Arrow News
Social Security has recently reached an important milestone. In May 2025, the average benefit for the first time exceeded $2,000 a month. This means that a typical senior can expect about $24,000 in annual benefits. It sounds like a lot, but if you’ve ever tried to take that amount, you know it won’t take you that far.
Luckily, if you understand the factors that affect the size of your check, you can beat the average profit. If you haven’t signed up for Social Security yet, check out these three things:
1. If possible, work for at least 35 years before applying
The Social Security Administration calculates your profits based on the average monthly income of 35 maximum earning years adjusted for inflation. However, you don’t have to work that long to receive retirement benefits.
You will be qualified with just 10 years of work history. However, if possible, it is best to refrain from applying until you hand over the 35 year mark. If you apply earlier, your zero years of income will be divided into benefits calculations. Even one of these can permanently reduce the size of the check.
However, there is no drawback to working for more than 35 years before applying. If you are making more than you did earlier in your career, it can actually increase your check, as you start to earn more recent higher earnings and increase your average monthly income.
2. Maximize your income today
The more you pay with Social Security Payroll Tax throughout your career, the greater your retirement benefits. Everything you can do to increase your income today will also help with social security benefits later on. This includes getting a pay raise, finding a new job that is better paid, and starting a side job.
The only people who are not of this are already earning more than a taxable wage base. It’s $176,100 in 2025. It doesn’t help you increase your retirement benefits as you don’t pay Social Security taxes on your income than this amount. However, it could improve the quality of life today.
3. Choose the right age for you
If you want the full profits you earn based on your work history, you must apply for a full retirement age (FRA). That’s 67 for most people today. If you apply earlier than this, you will face an early claim penalty that will allow you to cut your check by up to 30%. That alone is enough to knock on an average of $2,000 a month benefit to $1,400 a month.
You can also delay profits past the FRA. Also, the check will continue to grow until it reaches 70. At that point, if your FRA is 67, you’ll get 24% extra to your check.
The ideal age for you to assert is two things: health and finances. If you can’t delay social security financially, your choice is very simple. They argue that they do not need to assume unnecessary debt when necessary. However, if possible, you can benefit from refraining from the application for a month or two. So you can increase your check a little.
If you’re in poor health, making an early claim can also be the right move for you. If you wait too long, you risk not receiving anything from Social Security. However, if you are married and want to gain the greatest possible survivor benefits after your spouse die, you may be waiting to make a claim or not, or at all. When you sign up for Social Security early, you will also permanently reduce your spouse’s survival benefits.
If you are married, coming up with a plan as a couple is generally a good idea. This way you can choose a strategy that will make the most of your home benefits. For example, if one person wins a large amount of other people, a low earning could insist on retirement benefits early and delay the higher earnings. After that, if a higher earner is applied, you can switch to your spouse’s profit if the lower earner is more valuable than what you’re getting.
This is not guaranteed to help you beat the $2,000 average Social Security check. However, doing all three of these is very likely to earn a greater profit that will help you increase your retirement costs.
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