The maximum amount of Social Security (SSA) benefits in the United States varies annually. As a result, given that this increase occurs once a year, we can confidently predict that payments in 2025 will be higher.
Knowing this, we can conclude something very important: retirees will receive more money in the year 2025. This means that the budget of Social Security (SSA) beneficiaries who do not typically receive another benefit is slightly higher, and they thus have a higher quality of life.
Therefore, retirees with any type of benefit, regardless of the year of birth, can have a check of up to $5,180 in 2025. Of course, in order to obtain such a high Social Security (SSA) payment, it is necessary to have maximized the benefit check during one’s working life.
Who gets the Social Security (SSA) increase in 2025?
The 2025 Social Security (SSA) increases are due to the COLA. The government’s Cost of Living Adjustment allows all Social Security (SSA) benefits to reach the aforementioned figure. True, this payment is only available to retirees who have maximized their benefits, but all Americans will receive a small bonus this year.
Thus, it is not necessary to have been born in a specific year or to have applied for retirement on a specific date to be eligible for the 2025 COLA and, as a result, the benefit increase. Furthermore, we must keep in mind that this is a completely automatic process for US citizens. So, if you have an accepted benefit, all you have to do is wait for the US government to increase it each year.
How to increase Social Security (SSA) checks?
To receive the highest possible Social Security (SSA) check, three factors must be considered. In addition to these three considerations, we must remember that once we begin collecting our retirement benefits, we cannot increase them.
If we have not yet applied for retirement, keep in mind that:
- We have to delay retirement as much as possible. The minimum retirement age of 62 may be tempting, but it will make us lose money every month. Ideally, we should wait until we are 70 before applying for Social Security (SSA).
- We need to have a good salary while we are working. The more we are paid, the more taxes we will pay and that will mean a bigger check in retirement.
- Working longer will give us a better Social Security (SSA) benefit. It is mandatory to work a minimum of 10 years, but that will not give us a good monthly payment. It is best to work 35 years before applying for retirement.
If we still don’t receive a sufficient Social Security payment, we can apply for additional benefits such as Supplemental Security Income or SNAP Food Stamps to help us pay for all of our regular expenses.