3 Surefire Ways to Grow Your Social Security Paycheck
You'll probably rely on Social Security to at least help cover your senior living expenses. To that end, it pays to lock in the highest monthly benefit you can. Here are three easy ways to pull that off.
Some people assume that Social Security benefits are universal, and all seniors collect the same amount every month. But actually, your monthly benefit will be based on the amount of money you earned during your 35 highest-paid years in the labor force. And if you want to secure a higher benefit during retirement, the answer is simple -- boost your earnings.
You can guarantee yourself a jump in earnings by getting a side job on top of your main one, and these days, the gig economy is loaded with opportunities. While things may be a little tighter right now due to the pandemic, in time, they should open up again. Not only will your side income count toward your recorded wages, but it'll also give you more flexibility to fund a retirement savings plan, which will also help you secure more income during your senior years.
Source Fool.com
