15 Things a Higher Social Security Benefit Can Do for You

Delaying your Social Security claim until age 70 can help you score the maximum monthly benefit you're entitled to based on your earnings history. And while waiting that long may not be easy, that higher benefit could also change your retirement for the better. Here are just a few things a more generous benefit might do for you.

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Housing may be your largest expense in retirement -- even if your mortgage is paid off by then. If you raise your Social Security benefit, it could help cover rising property taxes, homeowners insurance, and repairs.

Even if you're no longer commuting to a job, you might still need a car at your disposal in retirement. That means paying for everything from insurance to maintenance. A higher Social Security paycheck could make those costs more manageable.

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Medicare premiums have climbed from year to year, and they may continue to do so in the years ahead. The more money you get out of Social Security, the easier it'll be to absorb those hikes.

Between out-of-pocket Medicare costs and issues that tend to arise as people age, seniors often find that healthcare is a major budget buster. If you lock in a higher Social Security benefit, you may not feel compelled to skimp on healthcare or skip medications like some seniors unfortunately do.

As you age, your ability to tackle home-related upkeep could wane. A higher Social Security paycheck could make it easier to pay for the help you need rather than risk injury or neglect your property.

I Can't Believe This $17,166 Social Security Bonus Was So Easy Uncover a handful of little-known "Social Security secrets"... including a simple process that removes the guesswork and makes it easy to earn as much as $17,166 in additional benefits every year. Click here to get access to information on how you can uncover this lucrative strategy and even more insider information you won't want to miss.

Staying busy during retirement is essential to your mental health. But it costs money to stay occupied in the absence of a job, and so a more robust Social Security benefit could be your ticket to more options for enjoying your newfound free time.

Many seniors dream of traveling extensively. If your career kept you too busy to see all the places you've dreamed of, you may be eager to travel more during retirement. A higher Social Security paycheck could make that possible.

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If you have grandkids, you may feel compelled to spoil them rotten (and there's nothing wrong with that). A larger Social Security benefit could buy some extra gifts or experiences -- or make it possible to pad your grandchildren's college funds.

Many seniors end up needing some amount of long-term care in their lifetime. And, unfortunately, that's a service Medicare generally won't cover. Boosting your Social Security benefits could make a nursing home stay or home health aide much easier to afford.

These days, many seniors are struggling financially due to rampant inflation. The higher your monthly benefit, the more general spending flexibility you'll have, so that if living costs rise, you'll have less to worry about.

I Can't Believe This $17,166 Social Security Bonus Was So Easy Uncover a handful of little-known "Social Security secrets"... including a simple process that removes the guesswork and makes it easy to earn as much as $17,166 in additional benefits every year. Click here to get access to information on how you can uncover this lucrative strategy and even more insider information you won't want to miss.

Some people go into retirement without much of a nest egg. If that's the scenario you're looking at, it pays to delay your Social Security filing. A higher benefit could take the place of savings you're missing.

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Seniors are often told to invest some of their assets in stocks even during retirement. If that's a risk you're uncomfortable with, you may find that your nest egg doesn't grow much once you start tapping it, thereby forcing you to cut back on IRA or 401(k) plan withdrawals. But a higher Social Security benefit could help you manage in light of that.

Gone are the days when most workers are privy to a pension. If you're among the many workers who won't have that income stream, then it pays to get more money out of Social Security to take its place.

Getting into debt during retirement could mean carrying that debt with you to the grave -- or potentially burdening your heirs with paying it off. The more income you get from Social Security, the less likely you'll be to land in debt in the first place.

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Many seniors find that ongoing financial concerns take away from their enjoyment during retirement. A higher Social Security benefit could make those fears go away so you can make the most of your senior years.

I Can't Believe This $17,166 Social Security Bonus Was So Easy Uncover a handful of little-known "Social Security secrets"... including a simple process that removes the guesswork and makes it easy to earn as much as $17,166 in additional benefits every year. Click here to get access to information on how you can uncover this lucrative strategy and even more insider information you won't want to miss.

When you invest your retirement savings, you never know what sort of return you might get on your money. But for each year you delay your Social Security filing beyond your full retirement age, you're guaranteed an 8% boost to your benefits, up until the age of 70. And that guarantee makes delaying your filing worth it.

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