![Get an extra $1,983 per Security Check [Photo: The Motley Fool]](https://omdnews.com/wp-content/uploads/2023/07/The-Motley-Fool.jpeg)
Social Security is a source of income that will be provided when you retire. Keep in mind, the benefits you receive from Social Security depend on how long you work and how much you make.
![Are you eligible for the maximum benefit of Social Security? [Photo: sharewise]](https://omdnewsnew.s3-accelerate.amazonaws.com/2023/07/sharewise.jpeg)
Are you eligible for the maximum benefit of Social Security? [Photo: sharewise]
How To Increase My Social Security Check?
Did you know that you can increase your monthly payment by avoiding early filing penalties and earning delayed retirement credits? According to Christy Bieber, you can earn the delayed retirement once you reached your full retirement age without claiming Social Security benefits. You can claim your benefits before FRA but instead of earning it you are hit with early filing penalties that will reduce your monthly check up to 30%.
When you claim benefits at FRA you will receive the benefit based on your wages over your career but if you claim the benefits after FRA the amount of your check will increase per month, with the delay your check increases 8% annually in every year you wait. The max monthly benefit of Social Security at 62 is just $2,572. If you can wait until 70 to start Social Security you can get an extra $1,983 monthly, a total of $4,555.
Unfortunately, not everyone has a chance to increase their payment by that amount since those are the max benefits. You are only qualified if you have earned a lot of money over your career. Social security assessing on income up to a certain threshold which is $160,200 and your benefits will be based on how much income you are taxed on. But you can still see the benefits increase by avoiding early filing penalties and earning delayed retirement credits.
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