How to grow Social Security benefits beyond retirement age
For more and more Americans, reaching retirement age no longer means the end of an active working life. Many people are choosing to work past the age of 65, according to the Department of Labor's Bureau of Labor Statistics.
If you're willing and able, maintaining gainful employment later in life could go a long way toward ensuring a secure future for you and your family.
Besides providing you with additional income to pay your bills, extending your employment or working for yourself could boost your lifetime Social Security benefits.
Full retirement age is between 65 and 67, depending on when you were born. To learn more about delayed retirement credits, visit www.socialsecurity .gov/planners/retire/ delayret.html.
When we calculate your retirement benefit amount, we use your best 35 years of earnings. We'll increase your benefit amount if your new year of earnings is higher than one of the years we used to calculate your initial benefit amount.
To see how we calculate your benefits, visit www.socialsecurity.gov /pubs/EN-05-10070.pdf.
An increased benefit amount for yourself could mean more support for your family, too, through Social Security spousal benefits, child benefits and survivor benefits.
You can create your personal "My Social Security account" today by visiting www.socialsecurity.gov/myaccount.
Social Security is committed to helping you prepare for a secure today and tomorrow for you, your family and future family.
You can access all of our retirement resources by visiting www.socialsecurity.gov/planners/retire.
Garrett Cooper is the Social Security Operations Supervisor in Beaufort.