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social security secrets

Social Security “Secrets”

When it comes time to focus on your retirement plan and your social security benefits, there are many key components to be aware of. The major part to be aware of is exactly how your monthly benefit payments are being estimated. The factors that play into your monthly compensation are a great way to strategize what steps you should be taking prior to retirement and afterwards. Knowing as much about social security and how retirement works will drastically help you and set your future up correctly during retirement. Let’s dive into the need to know secrets.

One of the most important topics people are curious and ask about is the claims process. Most people do not know that if you desire too, you can actually revert your decision of filing your claim, but there are certain time lengths and situations where this is possible. That being said, if you finally decide to claim your benefits, you then have a 12 month period to cancel or void that claim and then delay it to another time whenever you decide you truly want to claim your benefits.

However, if you have already started receiving benefits, here is the tricky part. Once you decide to revert your benefits claim, you are required to pay back what has been given to you already. Regardless of the amount received, you will have to provide that payment back. 


Another secret that most people nearing their retirement age are not knowledgeable on is the fact in which you can keep working while filing your claim. Most believe that they need to stop prior to filing which is not the actual case. During the process, if you are able to keep working up into your full retirement age, this is the best thing you can do.

In this situation, you will be already ahead of the claims process, while nearing your full retirement age or FRA, and by continuing your work you will be helped to increase your benefit checks to larger amounts. The full retirement age is 67 for those born in the year 1960 or later and for those born prior to 1960, their FRA is between 66 years old and 66 years and some months, depending on their actual birth date it can vary.

Spousal benefits are another social security “secret” most people do not know about and are not taking advantage of. These benefits are also available for those both married and divorced. For those divorced, if you are no longer married and the past marriage lasted at least 10 years you are in fact able to receive spousal benefits from your previous spouse.

Both spouses must also be at least 62 years of age. That being said, you do have to still be single and can not be remarried to receive such benefits. If your ex spouse has happened to remarry, do not worry you can still be eligible. If eligible, you will then be receiving a monthly benefit that is given based on the record of your ex spouse. 

With all these “secret” and extra benefits that are available, it shows how many opportunities you may possess to receive extra monthly benefits to help secure yourself a safe and comfortable retirement, so make sure to see if you are eligible for any of these secrets.

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