One simple action can lead to a bigger check.
Social Security can end up paying you a significant amount of money in retirement. And if you don’t have much savings, these monthly benefits can make up a large portion of your retirement income. That’s why it’s important to do everything you can to get more Social Security benefits.
The monthly benefits you are entitled to after retirement are determined by two things:
- Your personal wage history.
- Your application age.
However, mistakes can occur when considering a person’s earnings history. Income may be underreported to the Social Security Administration (SSA) or not reported at all.
That’s why it’s so important to check your earnings records to make sure they’re accurate. To do this, create an account at SSA.gov and review your income statement annually. Compare the income amounts listed to your personal records to ensure the data matches.
If you encounter an error that is detrimental to you, please contact SSA. They will tell you what steps to take to prove that you have unreported or underreported income.
It’s especially a good idea to check your Social Security earnings records if you’ve changed jobs frequently or done a lot of contract work during your career. Similarly, if you change your name mid-career, you’ll need to make sure all wages are credited.
Even if you have enough savings for retirement and don’t expect to rely too much on Social Security, there’s no reason not to receive the full benefit you’re entitled to. Reviewing your earnings record may be the easiest way to avoid a reduction in your monthly check.
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