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For millions of Americans, the Social System is the bedrock of their retirement plan. For instance, a 2024 survey by the Seniors League found that for 67% of retirees, benefits accounted for more than half their monthly income (1). At least 27% of all retirees relied on benefits alone for their income.
Simply put, there’s a good chance a meaningful portion of your retirement could be funded by this social safety net.
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If that’s the case, it makes sense to try to maximize the payout. Fortunately, depending on your age and financial situation, there are several ways to boost your payout before you file your claim.
Here are a few different ways you can potentially bump up your monthly payout to $3,500 or more.
All the levers you can pull
Your benefit is built from three inputs: how long you worked, how much you earned and when you claim.
If you’re still years away from retirement, the good news is you still have time to work on two of these levers, starting with how long you work. The Social Security Administration (2) (SSA) uses the highest-paid 35 years of your career to calculate your benefits, so every additional year of higher pay can make a difference. And if you have a few years of unemployment or under-employment on your record, now is the time to offset those with higher-paid years.
The second lever is how much you earn in those years. If you earned the maximum taxable earnings every year since age 22 and claimed your benefits in 2026 at age 67, which is Full Retirement Age (FRA) in the U.S., your monthly payout would be $4,152, according to the SSA (3). While only a small fraction of American workers earn that much for that long, the point is that you can significantly boost your benefits by working harder during your career.
That being said, there is an easier way to boost your benefits without working too hard.
Read More: Millionaires under 43 hold only 25% of their wealth in stocks. Here’s where their money is actually going
Easiest lever to pull
Perhaps the easiest way to boost your payout is to simply delay your claim. Filing your benefit claim at age 70 or later instead of 67 could boost your monthly payout by as much as 24% (4). So, if you’re eligible for $2,822 per month at FRA, waiting just three years more to file can boost that payout to $3,500.
To be fair, waiting three additional years without benefits is easier said than done — especially if you have already retired and have limited resources. In these situations, it’s probably better to work with an experienced financial planner to help you prepare a financial bridge between your retirement and benefit claim.
Platforms like Advisor.com can help you find the right fit. Their team does the heavy lifting for you, vetting advisors based on track record, client ratios and regulatory background. Plus, their network comprises fiduciaries, who are legally required to act in your best interests.
Just enter a few details about your finances and goals, and Advisor.com’s AI-powered matching tool will connect you with a qualified expert best-suited for your needs based on your unique financial goals and preferences.
Finding the right advisor isn’t always easy — there’s no one-size-fits-all solution. That’s why Advisor.com lets you set up a free initial consultation, with no obligation to hire, to see if they’re the right fit for you.
What to do if you’ve already filed
If you’ve already filed your benefit claim under $3,500, you may need to create your own sources of reliable cash flow to make up the difference.
For instance, investing in rental properties or income-generation vacation homes could help you bridge the gap in your monthly income. However, the time, effort and costs involved in managing and maintaining multiple properties prevent many from investing.
That’s why platforms like mogul are here to help you get started. This real estate investment platform offers fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or late-night tenant calls.
Founded by former Goldman Sachs real estate investors, the mogul team handpicks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional-quality offerings for a fraction of the usual cost.
Each property undergoes a vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10% to 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.
Getting started is a quick and easy process. You can sign up for an account and then [browse available properties](https://moneywise.com/c/1/467/2055?placement=6). Once you verify your information with their team, you can invest like a mogul in just a few clicks.
Make the most of your savings
You can also focus on high-yield savings accounts to generate some supplemental monthly income. A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.
A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.
That’s ten times the national deposit savings rate, according to the FDIC’s March report.
Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.
With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.
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Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
Seniors League (1); Social Security Administration (2), (3), (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
