How To Get A Social Security Bonus?

One thing everybody looks forward to after years in the workforce is having a retirement plan that allows them to live comfortably when they are no longer working. Many people look forward to receiving a social security check, and they want to maximize the money they get from it as much as possible. Let us know ‘How To Get A Social Security Bonus?’.

How To Get A Social Security Bonus?

There isn’t a particular way to get a “bonus” from Social Security. What you can do is employ strategies that can help you to maximize your social security benefits. It is important to start working for it as early as possible so that you can get a big check when you retire.

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How This Retirement Plan Works?

Social Security is basically a piggy bank for when you retire. During your working years, you pay taxes to Social Security. By doing so, you earn Social Security credits which will determine your eligibility for the benefits, as well as how much money you will receive monthly.

The rule for 2022 requires you to pay $1,510 in taxes to earn one credit. The highest possible number of annual credits is four. To be eligible for the benefits, you must earn a minimum of 40 credits, except in cases of disability or death (survivor’s benefits given to the family of the deceased) which have different stipulations.

How to Get Social Security Bonus?

So, how can you get a bonus on your Social Security benefits? As we said earlier, you cannot get a bonus in addition to your benefits. You can only try to maximize how much you get from the benefits. We have a few good strategies you can use to maximize your Social Security benefits.

Earn More Money

The money you receive from the benefits is computed by indexing your highest 35 years of earnings. Earning the maximum possible credits during your working years will put more money into your retirement plan. If you made a lot of money before retirement, you are very likely to receive bigger checks from Social Security when you retire.

Delay Your Retirement and File for the Benefits a Bit Later

Another way you can increase your Social Security benefits is by waiting as long as you can before filing for the benefits. It will help if you wait till your full retirement age before you start receiving your benefits. There are rules that state the full retirement age eligibility based on birth year. For 2022, the full retirement age is 66 for people born between 1943-1954, and 67 for people born between 1955-1960.

You can also get more from Social Security if you take a delayed retirement age. Your benefits increase the longer you wait, and you can wait up to when you are 70 years old.

Closely Monitor Your Earnings

It can also help you to monitor your earnings regularly to make sure you receive the full amount you worked for. You will need to ensure that your records are accurate and that your employers provided the correct information to Social Security. This will help prevent any errors in your benefit payments.

Monitor the Annual Cost of Living Adjustments (COLA)

Sometimes, the government could increase the amount beneficiaries receive by making cost of living adjustments. This is a way to ensure that Social Security beneficiaries are not affected by inflation as time passes. Depending on the rate of inflation, Social Security recipients could get a COLA percentage increase on their benefits.

Continue Working Past Retirement Age

If you are healthy in old age and expect to live longer, you can also work for a few more years after you reach your full retirement age. This will help you get more money from Social Security when you decide to start receiving your benefits.

Other Helpful Retirement Plan Tips

  • Don’t put all your eggs in one basket. You don’t need to depend solely on Social Security for your retirement plan. There are other ways you can save towards retirement. One good way is by contributing to your 401(k) plan.
  • Start planning early. It is important to begin planning for retirement as soon as possible. You can gather as much information as possible on retirement planning, and you should also start keeping track of your earnings.
  • You could also consider getting a professional financial advisor who will assist you in making retirement plans. Getting professional help can be useful as it reduces the work for you.
  • As you decide when to start receiving your benefits, you must consider whether delaying your retirement is the best option. It might be better to start receiving them earlier because you get the benefits for longer even if the money is not as much as when you delay it.


Taking control of your finances to get the most out of Social Security is important in preparing for your retirement. You should explore all the possible options to help you get as much from the benefits as possible.

Frequently Asked Questions

  1. Are Social Security credits important for eligibility?

You are eligible to receive benefits if you earn 40 or more credits from Social Security taxes during your working years.

  1. When can I start receiving retirement benefits?

According to the rules, you can start collecting Social Security benefits at early retirement age, which is 62.

How To Get A Social Security Bonus?

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