Local financial professional offers Social Security insight Millions count on Social Security to help them cover expenses in retirement, but most don’t fully understand how it works and how to maximize what they earn from the program. As a financial adviser with Modern Woodmen of America in the East Bay area, I’m passionate about helping people in my home community plan for and reach retirement. Whatever your financial goals, I’d love to help you by offering financial guidance tailored to your needs. In this article, I’ll describe how you can get the greatest Social Security benefit each month. Everyone is different and certain tips may apply to your situation, but you don’t want to leave any money on the table. Partnering with financial professional will help you get the benefit you deserve! Claim Social Security at the right age Many people want to claim Social Security as soon as possible, currently age 62. And that's essential for some people. However, if you have enough savings and/or income to wait until your “full retirement age” (between 66 and 67, depending on the year you were born), you can receive a greater monthly benefit. Claiming at 62 (early withdrawal) can permanently reduce your monthly benefit by about 25% of what it could have been if you waited until full retirement age. Look into spousal and family benefits If you’re married or a spouse/family member has passed, you might be eligible to receive additional Social Security benefits. Spouses can earn up to half of what their partner's benefit if they meet certain criteria -- even if the couple is divorced (but haven’t remarried). If a spouse dies, you could qualify to receive their benefit. Plus, dependents under 19 can qualify for a Social Security benefit up to half of what you receive. Monitor additional income If you’re working receiving money from a pension, or otherwise earning over certain limits after retirement, you could be penalized. To earn your full Social Security benefit, it’s important to understand the thresholds and monitor your income. Return benefits and apply later If you’ve been receiving benefits for less than one year, the Social Security Administration offers the option for you to repay your benefits and re-apply later. Example: You claim benefits and 62 and realize your monthly benefit would have been greater if you waited until 66. If you decide within one year to repay the benefits you’ve received, you can “start over” and claim a higher benefit when you reach 66. By partner with an experienced financial adviser, you can maximize you Social Security benefits. To learn more about how I can help, visit my website or give me a call today. * Securities and advisory services offered through MWA Financial Services, Inc., a wholly owned subsidiary of Modern Woodmen of America. Member: FINRA, SIPC. Modern Woodmen is not affiliated with nor endorsed by any governement agency, including the Social Security Administration.