Personal Finance

3 Social Security Moves for 2025 That Could Raise Your Future Benefits

Maurie Backman

Published: January 19, 2025 1:28 pm

As of November 2024, the average retired worker collecting Social Security received a monthly benefit of $1,925. Your monthly benefit, however, will hinge on a variety of factors, including the age at which you decide to sign up.

But that doesn’t mean you can’t take steps during your working years to set yourself up with more Social Security income later on. In fact, here are a few moves you can make as soon as this year to score a more generous monthly benefit down the line.

1. Check up on your earnings record

The monthly benefit Social Security pays you will be based on your personal income history — specifically, wages earned during your 35 most profitable years of earnings. It’s important to make sure the Social Security Administration (SSA) has accurate earnings data on file for you, since underreported income could result in smaller checks in retirement.

To that end, one yearly task to put on your calendar — and you’ll want to start in 2025 — is to sign into your Social Security account and check your earnings statement. It’ll not only contain wage information, but also and just as importantly, an estimate of your future monthly Social Security benefit. You can create an account on the SSA’s website if you don’t have one already so you’re sure not to miss an earnings statement.

2. Go after a raise

A higher paycheck could do your finances a world of good in 2025. But more so than that, higher pay could lead to a larger Social Security benefit in retirement.

So to that end, do some research to make sure you’re being paid fairly for whatever it is you do. Talk to recruiters to see if your salary makes sense for your role and physical location. And figure out what skills are needed to chase a promotion that could result in a higher salary.

Another thing you may want to do is see if your company offers a mentorship program. You may be able to pick up some valuable skills from a senior employee in your company — without having to spend a dime.

3. Get a side hustle

If you’ve been waiting to get a side hustle, now might be a good time to boost your income with a second gig. That’s money you can use to do everything from save for your upcoming vacation to bank funds for a down payment on a home.

The good news is that side hustle income counts toward your future Social Security benefits as long as the IRS knows about it. And since you’re legally required to report all of your income, that shouldn’t be too hard.

Another thing to keep in mind is that a part-time gig could lead to a higher monthly Social Security check even if you’re already collecting benefits. Let’s say you’re retired but didn’t have a 35-year work history. If so, earning a part-time income could replace some zero-earning years within your top 35 with actual wages, even if they’re modest.

You should know that you’re allowed to work in retirement even if you’re collecting Social Security. Once you reach your full retirement age (FRA), you can earn any amount of money without having a portion of your benefits withheld. Prior to that, you’ll need to be mindful of Social Security’s earnings-test limits. This year, the threshold is $23,400, or $62,160 if you haven’t reached FRA yet but will be getting there at some point before 2025 comes to an end.