Maximizing Social Security Benefits: Strategies Every Woman Should Know.

Social Security is a vital part of your retirement income—but navigating when and how to claim benefits can be complex, especially for women. Understanding the rules and strategies behind Social Security can make a significant difference in your monthly income and long-term financial security.

Why Social Security Matters More for Women

Women generally live longer than men, meaning your Social Security benefits need to last longer. You may also have gaps in your work history due to caregiving or part-time employment, which can reduce your benefit amount. Making informed decisions about when and how to claim your benefits can help you maximize this essential income source.

Key Strategies to Maximize Your Social Security Benefits

  • Delay Claiming Benefits: Waiting until age 70 to claim your benefits can increase your monthly payment by up to 8% per year after full retirement age.

  • Understand Spousal Benefits: If you’re married or divorced, you may be eligible for spousal or survivor benefits, which can supplement your own Social Security.

  • Coordinate with Your Partner: Planning together can help optimize your household’s overall Social Security income.

  • Know the Impact of Working While Receiving Benefits: Earning income before full retirement age can reduce your benefits temporarily.

  • Beware of Taxation: Depending on your total income, up to 85% of your Social Security benefits may be taxable; strategic planning can help minimize taxes.

Social Security and Your Retirement Plan

Social Security should be part of a broader retirement income strategy. At Apriem, we integrate Social Security planning with your investment portfolio, pensions, and other income sources to create a cohesive, tax-efficient retirement plan tailored to your goals.

Take Control of Your Social Security Future

Making smart choices about Social Security benefits today can significantly impact your retirement lifestyle tomorrow. Whether you’re years away from retirement or approaching soon, it’s never too early or too late to plan.

Need help maximizing your Social Security benefits?
Contact us at bri@apriem.com for personalized guidance tailored to your unique financial situation.