From Nasdaq, Inc.:

1. Verify your earnings history to ensure your Social Security benefits are correct. Each year, the Social Security Administration uses the 35 years of your highest earnings to calculate benefits. It’s essential to check your earnings regularly, as incorrect records could cost you. And remember, you can correct errors beyond the three-year, three-month, and 15-day cutoff for corrected earnings in some cases.

2. If you’re currently receiving Social Security benefits, you might boost them by continuing to work and earning more. For every $2 earned above $22,320 in 2024, $1 in benefits will be withheld. If you reach full retirement age in 2024, $1 in benefits will be withheld for every $3 earned above $59,520. The withheld amounts will be repaid once you reach your full retirement age.

3. You might be able to increase your Social Security retirement benefits by canceling your benefits application within the last 12 months. By continuing to work and claiming benefits later, you can receive a higher benefit amount, provided you repay any money you’ve previously received.



Read more: 3 Ways You Might Be Able to Boost Your Social Security Benefits in 2024