Could You Raise Your Social Security Income By $1000 A Month? Hot Conversation

The recent discussion on this board about Social Security lead me to wanting to share an article I recently published:  retirees could dramatically increase their Social Security checks by reapplying for Social Security benefits.

It’s entirely legal; it was an opportunity that had lay unnoticed for years. It was soon discussed on National Public Radio and PBS, and in USA Today and a number of in financial magazines. Let’s discuss it here.

Hit “restart” and reset your RIB. Everyone eventually applies for Social Security, but few people reapply – and that’s the key to this strategy, which can potentially bring retired couples $1,000 or more in additional RIB (retirement income benefits). It’s called “restarting the Social Security clock”. If you are in good health and have retired within the last few years, it is a move worth considering.

You can start collecting Social Security benefits when you’re first eligible, and then restart your payments at a higher rate later. You simply file Form SSA-521 (www.ssa.gov/online/ssa-521.pdf) to request a withdrawal of your Social Security application. After the SSA processes that form, you reapply for Social Security – and since you are older now than when you first applied, this time you will receive much higher payments.

Read on: http://bit.ly/biWrkh

Posted in news, work & money.

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12 Responses

  1. Generic Image SIZZELN says

    Rose, Thank you for this information, VN women will PROSPER when informed…TRACK

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  2. LilTigg LilTigg says

    Could you please tell me if this is only available in USA? I live in Canada.

    Thank you

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  3. persimian persimian says

    This is something I will definitely keep in mind when I retire.  Thanks for the info.

    0 like

  4. Generic Image nms says

    Thanks..I will lookinto this ASAP!

    0 like

  5. New-name New-name says

    I’d like to read more about this, but am timid about going to websites with unfamiliar suffixes (i.e. the .ly on this one).  Could you assure me it’s OK? 


    overly protective computer mother

    0 like

  6. DianeL DianeL says

    My Social Security is increasing $100.00 a month in Dec, 2010 after I call to change my source of SS. I started collecting benefits at 65+ and was surprised when they checked my sources. My husband who passed away had more money in his SS because of “cost of living raises.” So I am drawing benefits on his account. As of Dec, I will draw more on mine becuse it has been accumulating since I started.

    Also, divorcees need to check on drawing on their ex-husbands’ if I am correct? 

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  7. DianeL DianeL says


    I was reading this on Forbes blogs about the changes in the Social Security Do Over. This was dated Dec. 10 and says the Social Security Admininistration had changed the law to allow SS recepients only 12 months to reverse their decision to Do Over their decision to draw SS,  only once… E.g. If a person lost their job and was eligible to draw SS, went back to work, they could reverse it in 12 months but only one time…

    There are many scenarios, of course. You can go to http://www.socialsecurity.govor your County Aging services – County name Aging Servives. For the New Year, Check your Insurance policies to update your beneficiaries and if you are nearing 70 as I am, my accident Insurance will be cut to half value;  Consult with your insurance agents on changes and distributions on your investments and life insurance.

    I am not a formal Financial planner, but this is from my personal experience and working as an Assistant to Compliance/Investment Specialist.

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  8. pennylane100 pennylane100 says

    I realize that this is a topic that was first posted in 2010 but I thought I would give it a try and see if I could get a quick question answered.
    I took an early retirement at 62 with, of course, reduced benefits.   My husband is 66 years old and is still working.   He also gets retirement benefits and pays taxes on them and also pays  social security taxes on his current earnings.
    I recently found out that I could, as his spouse, receive a sum equal to fifty percent of his retirement .   However that amount is slightly less than my own pension,  so I would not benefit applying for it.
    Have I correctly understood the situation or am  I interpreting it incorrectly.

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    • DianeL DianeL says

      Go on http://www.socialsecurity.gov/ or call the Number for your location which is listed on the website.

      Every case is different but have your social security benefit papers, job information, etc. available so they can figure out which is the best way to go, plus your husbands. 
      I am changing my source of benefits back to my SS because I draw more on my mine. But As I said everyone is different…. Good Luck!
      Please tell me how it goes? If you are near an office, after the initial call, sometimes it is faster to go in.
      Go to Work and money above and type in “Direct Line to Social Security……

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  9. Generic Image Clairetta Anderson says

    This is totally out of the question for me. I could not begin to repay the benefits I’ve received, especially in a lump sum.

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