Whether you’re thinking of claiming Social Security in 2021 or not, the moves you make in the coming year could dictate how much money you ultimately receive from the program as a senior. If your goal is to collect the highest benefit possible, here are three important steps to take.
The higher your paycheck in 2021, the higher your monthly Social Security benefit could be. Some people think that Social Security pays a single, universal benefit to all seniors, but that’s not true. Your benefits are actually based on your personal wage history. The more money you earn at each stage of your career, the higher your payout stands to be.