Your Personal Plan to Optimize Your Social Security

Social Security is a meaningful part of your retirement. Understanding the various claiming strategies can help you and your spouse optimize the social security benefits you have earned.

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Your Retirement Situation is Unique!

Your retirement situation is different than your neighbors and friends. The differences in benefits and age between you and your spouse along with your current health and financial needs make your optimal claiming ages unique to you.
 

Most people think their Social Security benefits are fixed, set in stone.

But that's not true!

 
2728

There are 2,728 rules for claiming your social security benefits.
567

There are 567 unique ways to claim your benefits.
76%

Making a mistake when filing for your benefits could cost you up to 76%.
$100000

You could be leaving over $100,000 of additional benefits on the table.
 

Comprehensive and understandable.
All scenarios, benefits, rules & provisions.

Your report shows when & how to file to achieve the highest lifetime benefits.

Optimize your Social Security benefits!

Our customized Social Security optimizer report gives you the best options for claiming Social Security and increasing lifetime benefits."

Accurate and comprehensive, social security optimizer is constantly updated to the latest Social Security laws.

Covers every situation:

  • All filing strategies are provided in step-by-step detail.
  • All major benefits -- don't leave any money on the table!
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Make an informed decision


Before deciding when to claim your benefits you need to know how much you could be leaving on the table.

In fact, one person in four that reaches age 65 will live to age 90; and one out of ten will live beyond age 95!

Already claimed, and asking about your lifetime Social Security benefit?

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Maximize Social Security Benefits

Your Custom Report Shows How To Maximize Benefits

Get the best insight to maximize social security benefits with Optimal's Optimizer Analysis Report.

Optimize your Social Security benefits!

Our customized Social Security optimizer report gives you the best options for claiming Social Security and increasing lifetime benefits.

Our Analysis Report Covers Those Seeking:

  • A Social Security Analysis Tool to Maximize Benefits
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  • FREE Tools for Optimizing Social Security Benefits
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  • An Alternative to Using An Online Social Security Calculator for Retirement Planning
 

Social Security FAQS

How do I optimize my Social Security benefits?


Since you do not know your life expectancy, optimizing your benefits would be based on your best information at the time of your decision.

A starting point would be estimating your life expectancy. The average life expectancy age for a man age 65 is, on average, 84 and for a woman age 65 is 86.5. Using this as a baseline and based on the current health situation for you and your spouse you can determine whether you should estimate a longer or shorter life expectancy. The maximum benefit would be waiting to claim at age 70 however if you are in poor health and think you may pass away before age 80 then this may not be the optimal situation for you.

Another factor to consider is that if your benefit is greater than your spouse’s benefit and your spouse survives you then your spouse would receive a survivor benefit. In some cases, a spouse may outlive their spouse by more than twenty years so the claiming age for the higher earner should be optimal. Our report gives you the amount of lifetime benefits for each five year mortality combination starting at age 75 through age 90 for you and your spouse.

Everyone has different benefit amounts, age differences and health considerations so you really need to determine the optimal strategy based on your specific situation.

Is it best to wait until 70 to collect Social Security?


Compared to claiming at full retirement age (age 66-67) the benefit at age 70 can be 32% greater for those born before 1955 and 24% greater for those born after 1959. The difference in benefits can be significant.

However, when to collect Social Security should be based on several factors. These factors include your health, your spouse’s health, your financial situation, the difference in ages between you and your spouse along with the difference in benefits between the spouses. Since the larger benefit passes on to the surviving spouse, this benefit is typically the one you would want to maximize. However, we have seen situations where it is better for the lower-earning spouse to delay their benefit and the higher earner to claim first.

Another factor to consider is that if your benefit is greater than your spouse’s benefit and your spouse survives you then your spouse would receive a survivor benefit. In some cases, a spouse may outlive their spouse by more than twenty years so the claiming age for the higher earner should be optimal. Our report gives you the amount of lifetime benefits for each five year mortality combination starting at age 75 through age 90 for you and your spouse.

With so many variables, when to claim your benefits is a complicated decision. Everyone’s situation is different so you should have an analysis prepared of your options. Your personalized report will simplify this process.

Can I increase my Social Security benefits by working after retirement?


Yes, you can increase your benefits by working after retirement.

Your monthly benefit is recomputed each year and can be increased for wages received after retirement. Your benefit is based on your highest 35 years earnings after being adjusted for changes in general wage levels. If the post-retirement wages exceed one of your 35 highest amounts then the new amount will replace the prior amount and your benefit would be increased. Remember prior year amounts are indexed for changes in wages to any new earnings after age 60 are not indexed.

How can I increase my Social Security before it's too late?


Your monthly Social Security benefits are based on your highest 35 years of working income indexed to reflect changes in general wage levels.

If you have some years when you had low or no income, any additional work years would increase your benefits. You should review your Social Security Statement which shows each year of your lifetime earnings record. If you do not have a statement you can create a My Social Security account online at www.myaccount.socialsecurity.gov.

What month does Social Security recalculate benefits?


Social Security benefits are adjusted each year for changes in the cost of living (COLA). This adjustment is made starting with checks received in January.

What is the highest amount Social Security will pay out?


The maximum possible Social Security benefit in 2019 for one reaching full retirement age (age 66) in 2019 is $2,861 per month. For someone claiming at age 70 the monthly benefit amount increases 32% to $3,776 per month.

For 2020, the maximum amount for someone reaching full retirement age in 2020 and claiming at full retirement age is $3,011 per month.