How do I Increase Retiree Benefits?
- 1). Work a full 35 years. Those who decide to retire early will most likely see a dramatic decrease in retiree benefits.
- 2). Work longer than 35 years. Although this might not sound too appealing, your benefits hinge on how much you've made over the years at your job. If your lowest earnings took place in the first five years, you may want to consider working an extra five years to replace those low-earning years.
- 3). Apply for social security benefits a few years after your retire. If you wait to apply for social security when you're 70, you may see an increase of almost 10 percent in your benefits.
- 4). Ask your current boss for a raise. The more money you make, the more money you'll see in retirement. Even a slight raise could earn you an extra $50 a month.
- 5). Go back to work. If you're retired and feeling a little bored, consider going back to work. If you find yourself a job that offers benefits, your retiree benefits will be withheld. Once you're ready to retire for good, those withheld benefits fold back into your retiree benefits, which could give you an extra $100 or more a month.
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