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
There is a reason why people are generally advised not to leave on Social Security alone. The average benefits are not far from helping seniors cover their costs.
As of May 2025, the average monthly Social Security benefit for retired workers was $2,002.39 for the last month, when data was available at the time of writing. That would cost over $24,000 a year, but this isn’t much money to live on.
That’s why it’s important to try and retire from savings with you. However, we recommend increasing your monthly Social Security check. And with these three moves, you might be able to bring home much more money than $2,002.39 a month.
1. Increase wages while working
The more money you earn during your year of work, the more social security you can earn when you retire. At least up to the point. Each year there is a wage cap that counts in Social Security and determines the amount of income that is subject to Social Security tax. However, the cap is generally quite expensive.
For example, this year, the Social Security wage cap is $176,100. Revenues above that threshold will not increase monthly profits on the line.
However, if someone who earns $70,000 a year can get a promotion to raise their salary to $75,000, it could lead to massive Social Security checks during their retirement. Similarly, padding your income with $3,000 side hustle revenues could also lead to more generous Social Security benefits.
2. I’ll work for at least 35 years
Social Security benefits during retirement are based on the workforce’s highest 35 year revenue. However, it doesn’t mean that you will need to work fully for 35 years to qualify for Social Security, and many people do not.
However, if you don’t have a 35-year job history, you can earn $0 for your annual benefit calculations that you don’t make any money. Additionally, social security checks may be small for several years to earn zero.
On the other hand, if you insist on working for at least 35 years, you may be able to qualify for a greater Social Security benefit upon retirement. And if you’ve been working for more than 35 years, the same may apply.
Many people see incomes increase at the tail edge of their career. So let’s say you have reached the age of 67 (the full social security retirement age for those born after 1960). And you’ve already worked for 35 years. If you’re making more than ever, pushing yourself to earn another 12 months could mean replacing a year’s low wage with a higher wage, which results in an increase in monthly social security checks.
3. Delay your claim past the full retirement age
Waiting until full retirement age to claim Social Security helps avoid monthly profit cuts as you can sign up at any point from the age of 62. However, if you are willing to sit longer, delaying your Social Security claim will increase your benefits by 8% per year until your 70th birthday.
Of course, delaying social security has its drawbacks. Not only might it force you to work longer, but if you don’t end up spending a very long lifetime, delayed claims could also have fewer lifetime benefits. But if your health is strong and you are eager to get more social security each month, it’s a guaranteed way for them to give you a boost.
It is best to be able to utilize retirement income available outside of Social Security, such as individual retirement accounts (IRAs) and 401(k) plans, but with larger monthly benefits, senior self can be put into a world of goodness. By following these steps and paying to grasp more generous profits, you can feel financially stable in your senior year.
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