Make the Most of Your Social Security Benefits
It provides critical financial support during retirement, disability, or after the loss of a loved one. But when and how you claim your benefits can have a major impact on your lifetime income.
Our team includes former Social Security employees who know the system inside and out. If you’re nearing retirement or exploring your options, we’re here to help you maximize your benefits and avoid costly mistakes.
👉 Schedule a call below with one of our experts for personalized guidance.
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What is Social Security
A federal program that provides financial support during retirement, disability, or after the death of a family wage earner. Funded by payroll taxes from workers and employers, it serves as a critical safety net for millions of Americans.
Established in 1935 as part of the New Deal, it was created to protect older adults and individuals unable to work due to health or hardship—helping ensure a basic level of income and stability throughout life’s transitions.
It is a government program in the United States designed to provide financial support to individuals during retirement, disability, or in the event of the death of a family wage earner. It is primarily funded through payroll taxes collected from workers and employers. The program was established in 1935 as part of President Franklin D. Roosevelt’s New Deal, with the goal of providing a safety net for older Americans and others who are unable to work due to age or disability.
How Can Social Security Help You?
It provides a reliable stream of income when you’re no longer earning a paycheck—whether due to retirement, disability, or the loss of a family breadwinner. It helps ensure you can continue covering essential expenses like housing, food, and healthcare, even in life’s most challenging seasons.
For many retirees, it forms the foundation of their income plan, offering vital financial stability and peace of mind throughout retirement.
Benefits of Social Security
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Once you reach eligibility age, you can begin receiving retirement benefits, which are calculated based on your lifetime earnings. These monthly payments provide a dependable income stream in retirement, helping cover everyday expenses and supporting long-term financial stability.
How Does Social Security Work When Turning it On at Different Ages?
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You can start receiving Social Security benefits as early as age 62, but doing so comes with a permanent reduction in your monthly payment. The reduction can be as much as 30% less than what you would receive if you waited until your Full Retirement Age (FRA). While early benefits offer faster access to income, they result in lower lifetime benefits if you live a long retirement.
No-Obligation Consultation: Make Informed Social Security Decisions
It is one of the most important sources of financial support during retirement, disability, or after the loss of a loved one. When and how you choose to begin benefits can significantly impact your lifetime income—making timing and strategy critical.
Whether you’re nearing retirement, navigating a disability, or planning survivor benefits for your family, our team at Diversified Insurance Brokers can help you understand your options, avoid costly mistakes, and build a strategy that supports your long-term financial goals.
👉 Schedule a call with one of our Social Security experts —including former SSA employees—for personalized, trustworthy guidance.
Additional Resources
Get Personalized Retirement Insights and Support
Use our Lifetime Income Calculator below to estimate your guaranteed income in retirement—and see how long your savings can last.
Have questions? Fill out the Contact Us form and a member of our team will reach out to help you build a strategy tailored to your goals.
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FAQs: Social Security
When can I claim Social Security benefits?
Your Full Retirement Age (FRA) depends on birth year—typically between 66 and 67. You can start as early as age 62 (with a reduced benefit) or delay past FRA up to age 70 to increase benefits.
How much will my benefit be?
Your benefit is based on Average Indexed Monthly Earnings (AIME), which is derived from your top 35 years of earnings, then applied to bend points (primary insurance amount). Delayed retirement credits or early claiming adjust the final amount.
What are spousal and survivor benefits?
Spousal benefits let your spouse claim up to 50% of your benefit at full retirement age. Survivors may claim your full benefit after you pass, depending on timing and eligibility.
Can I work while collecting benefits?
Yes. If you are under FRA, your benefits may be reduced if income exceeds the annual limit. After reaching FRA, there is no earnings penalty.
What are Delayed Retirement Credits (DRCs)?
If you delay claiming past FRA up to age 70, you earn DRCs which permanently increase your benefit amount.
When should spouses or couples coordinate claiming?
Often the higher earner delays to maximize benefit growth, while the other may start earlier. Coordinating the timing affects survivor protection, total household income, and flexibility.
How do income taxes affect Social Security?
Depending on your combined income, up to 85% of your benefits may be taxable. Planning with your tax advisor is key to optimize withdrawals, timing, and other income sources.
Can I switch strategies later?
No. Once you file and begin benefits, your initial election is locked (except in rare cases). That’s why we model multiple scenarios ahead of time before you claim.
