How to Boost Your Social Security Benefit Before You File in 2027

Ideally, you'll manage to kick off retirement with a nice amount of money in an IRA or 401(k). But even if you're someone with a fairly large retirement account balance, it's still important to get as much out of Social Security as you can.

Unfortunately, it's possible for your retirement savings to run out eventually. Social Security, on the other hand, is guaranteed to pay you a monthly benefit for as long as you live. So the larger your monthly checks are, the more financial breathing room you should get throughout your senior years.

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If you're gearing up to claim Social Security in 2027, the next few months are crucial. Here's what you can do to boost those benefits between now and when you actually file.

Maximize your earnings while you're still working

If you're planning to claim Social Security in 2027, it's not a given that you'll stop working at the same time. But if that's part of your plan, then now's the time to maximize your earnings.

Your monthly Social Security benefits in retirement are based on your personal wage history -- specifically, your 35 highest-paid years on the job. If you're at your peak earnings now, it's a good time to take on extra shifts or continue that consulting side hustle during the home stretch of your career. The more you earn in the coming months, the larger your benefits might be.

Check your earnings history for errors

Because your Social Security benefits are calculated based on your specific earnings, it's important to make the Social Security Administration (SSA) has the right wage information for you on record. If you have income that was underreported at any point in time or have years of missing income, it could impact your benefits formula, leading to smaller checks once you file next year.

The good news is that you may have time to correct potential errors on your record. To find out if they exist, create an account on the SSA's website and review your earnings statements.

Those statements give you an account of your reported wages each year and also contain an estimate of your future retirement benefits. If you need to correct your earnings record, you can fill out this form and send it to the SSA.

Understand the impact of delaying your claim

If you turn 67 in 2027, you'll reach full retirement age for Social Security purposes. At that point, you're eligible for your monthly benefits without having to worry about a reduction. But before you decide to file at full retirement age exactly, understand how much a delayed claim could pay off.

For each year you delay your Social Security filing past full retirement age, you're rewarded with an 8% boost to your monthly benefits, up until you turn 70. And that boost is a permanent one.

Of course, if you're turning 67 in 2027, you may not want to wait until 2030 to file for Social Security. After all, three years is a long time. But even waiting a little bit could pay off big time.

Let's say you're turning 67 in January, at which point you're eligible to collect your monthly benefits without a reduction. If you hold off until December, thereby waiting 11 months past full retirement age, you can boost your monthly checks by about 7.33%.

Now, imagine that in January, you'd be entitled to $2,400 a month from Social Security. If you wait 11 months, you can start off collecting $2,576 a month instead.

And remember, Social Security benefits are eligible for a cost-of-living adjustment every year. The larger your monthly checks are to begin with, the more money each annual raise should put in your pocket.

You may be excited to sign up for Social Security in 2027 after years of paying into the system. These moves could be your ticket to boosted benefits, so it makes sense to focus on them before 2026 comes to a close.

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