Social Security payments are a vital source of income for millions of Americans. In 2025, the average monthly benefit is projected to be just under $2,000. However, some retirees may receive up to $5,108 per month if they meet specific criteria.
To qualify for the maximum benefit, individuals must retire at age 70 and have consistently earned the maximum taxable income over their 35 highest-earning years. In 2025, this income cap is set at $176,100 annually. While most people won’t reach this earnings limit, there are other ways to boost Social Security benefits.
Delaying claiming benefits past age 62 can result in larger checks. For example, waiting until age 70 can yield payments about 24% higher than claiming at the full retirement age of 67. Married individuals may also be eligible for spousal benefits, allowing them to collect up to 50% of their partner’s full benefit amount.
This option is available to divorced spouses as well, provided the marriage lasted at least 10 years. Even small increases in income can lead to higher Social Security payments. Although reaching the wage cap may not be feasible for everyone, any boost in earnings can make a difference in retirement income.
Social Security benefits will increase by 2.5% in 2025 due to a cost-of-living adjustment (COLA).
Boosting Social Security income in 2025
This change aims to keep payments in line with inflation and maintain recipients’ purchasing power.
Despite these adjustments, Social Security alone may not be enough to cover all retirement expenses. Retirees can explore additional income sources to supplement their benefits. Personal savings, particularly in Roth accounts, offer flexibility and potential tax advantages.
Experts recommend saving 10-15% of income for retirement when possible. Part-time work can provide a steady paycheck and allow retirees to pursue interests on a flexible schedule. Renting out owned property is another option for generating passive income.
Seniors with substantial home equity may consider a reverse mortgage. This allows borrowing against the home’s value without making payments while living there. However, it’s important to understand the costs and responsibilities involved.
Low-income seniors might qualify for additional government benefits like SNAP for grocery assistance, Medicaid for healthcare costs, and Supplemental Security Income for monthly financial support. While not all of these options will suit everyone, utilizing even one can significantly improve financial security in retirement. It’s crucial to carefully consider the implications of each choice before making a decision.
