6 Smart Moves Retirees Are Making To Stretch Social Security Further Than Ever
Written by
Fiona Tapp
Edited by
Zuri Anderson
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As Americans live longer and face continued inflation and retirement funding pressures, retirees are becoming more strategic about how and when they claim Social Security.
Making the most of this guaranteed income can mean the difference between financial stress and sustained stability in retirement.
Here are the key ways retirees are stretching their Social Security benefits and why it matters.
Delaying Benefits To Boost Monthly Income
One of the most powerful strategies retirees use is delaying when they claim Social Security.
Workers can begin claiming benefits as early as age 62, but this results in a permanently reduced monthly benefit, approximately 30 % lower than full retirement age for someone born in 1960 or later, according to the Social Security Administration (SSA).
If retirees delay past full retirement age up to age 70, they earn delayed retirement credits, boosting monthly benefits. For example, a claimant born in 1960 or later would receive around 124 % of the base monthly benefit if they wait until age 70. These delayed retirement credits stop at age 70 as benefits no longer grow after that age.
Planning With Longer Life Expectancy in Mind
Longer life expectancy means retirees need Social Security to stretch over many years. According to Social Security life tables, a 62-year-old can expect to live nearly 20 more years for males and over 22 more years for females.
Broader U.S. life expectancy data show average life expectancy at birth rose to approximately 79 years in 2024, with men at 76.5 years and women at 81.4 years, according to the National Center for Health Statistics.
Longer retirements mean retirees who delay claiming often collect higher monthly benefits over many years, especially if they live well into their 80s or beyond.
Maximizing Benefits Through Spousal and Survivor Strategies
Retirees with spouses or former spouses often coordinate filing ages to preserve higher combined household income and survivor benefits.
Claiming strategies can be particularly impactful for couples where one spouse earned significantly more, because delaying that spouse’s benefit can increase the survivor benefit later, helping stretch lifetime benefits. This strategy is widely recommended by the Social Security Administration.
Using Other Retirement Income To Delay Social Security
Many retirees tap personal retirement savings to fund early retirement years, allowing them to delay Social Security longer. By covering living expenses with pensions, IRAs, 401(k) accounts, or taxable investments first, they can let Social Security benefits grow with delayed credits, boosting monthly Social Security income later.
Incorporating Cost-of-Living Adjustments (COLA)
Social Security provides annual adjustments tied to inflation, helping benefits keep pace over time.
- For 2026, the cost-of-living adjustment (COLA) was approximately 2.8 %, increasing the average monthly Social Security benefit by about $56, according to Kiplinger.
Although many retirees feel these adjustments don’t fully offset rising costs, they still represent inflation-protected increases that expand purchasing power over long retirements.
Integrating Work and Benefit Timing
Some retirees choose to work past the age of 62 or even past full retirement age, for several reasons, according to the Social Security Administration:
- Staying employed can add higher earnings to the 35 year earnings record the SSA uses to calculate benefits, potentially increasing retirement income.
- Working later also allows retirees to delay claiming Social Security, letting monthly benefits rise with delayed retirement credits.
Both outcomes help stretch lifetime Social Security income, especially for high earners or those who enjoy working.
Why This Matters Now
Social Security remains the backbone of retirement income for tens of millions of Americans. With rising life expectancy and a full retirement age that’s currently age 67 for those born in 1960 or later, making well-informed claiming decisions has never been more important.
Experts also warn that long-term program funding challenges could affect future payouts. When Social Security reserves run out (potentially as soon as the early 2030s), benefits may be automatically reduced by around 23%, according to Kiplinger, meaning a retiree receiving $2,000 per month could see that drop to roughly $1,540 in the absence of legislative changes. This looming structural issue underscores why planning ahead and maximizing current benefit strategies is even more important.
Retirees today are adapting to longer lives and rising expenses by being more strategic than ever before with their Social Security benefits. By getting a good handle on how Social Security works and using official data to plan smartly, retirees can make their benefits go further and enjoy a more secure retirement in the years ahead.
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