Imagine charging more than five thousand dollars a month just to delay your retirement? Social Security has a “turbo mode” for your pension but it has a basic requirement: if you last until you are 70, you can increase your monthly payment up to 32%. As? Here we tell you and show you what the basic numbers of this movement are.
First, the secret is strategic patience. If you have already been contributing for 35 years (or at least 10 years working full time, accumulating 20 work credits), the system rewards you for waiting. In 2025, every $1,810 you earn will give you one credit, with a maximum of 4 per year. Yes, it’s like a marathon, but the goal is a monthly check that would make even the most skeptical happy.
The “turbo mode” of your retirement
Let’s put it in Christian terms: if you were born after 1960, your full retirement age is 67 years old. But if you bank until age 70 without claiming benefits, each extra year adds an 8% increase to your monthly payment. Three years of waiting = 24% more.
And if you add adjustments for inflation or other factors, bang! There you have the $5,108. Of course, you need to have contributed those 35 key years. If you worked less, the calculation is made with your years of lowest income.
But be careful, it is not for everyone. If your health or finances demand quick action, no one judges you. Claiming at 67 (full age) gives you 100% of your benefit, and if you claim at 62 (the minimum age), you keep only 70%. The difference is abysmal: someone who could receive $5,000 at 70 would receive around $3,500 at 62. Is it worth the sacrifice? It depends on whether your plan is to live on income in Bali or you prefer to enjoy the present without so many bills.
February 2025: key dates and a surprise bonus
Now, let’s talk about dates. In February, Social Security money arrives between the 19th and 26th, depending on your category (retirement, disability, or survivor). How do you know when it’s your turn? Look at your birthday:
- From 1 to 10: you get paid on the second Wednesday (19th), already delivered.
- From the 11th to the 20th: you get paid on the third Wednesday (26th).
- After the 21st: the fourth Wednesday (26th).
But here comes an important change: since March 1st falls on a weekend, the SSI (Supplemental Security Income) payment is brought forward to February 28th. If you receive both benefits, you have two deposits in a month if you receive both Social Security and SSI.
