Recently, a claim has circulated on social networks and in online publications, suggesting that Social Security beneficiaries could receive a $16,728 bonus. However, there is no official program or policy that offers an additional check for that amount.
The claim is based on theoretical examples used by financial advisors to explain how certain strategies can maximize Social Security benefits over time.
In this article, we’ll clarify the situation, explain the reality of Social Security payments, and provide tips on how you can legitimately increase your monthly benefits.
Where Does the $16,728 Claim Come From?
The $16,728 figure is not a one-time bonus or a hidden government check. Instead, it’s a theoretical example that financial advisors use to illustrate how certain decisions—such as delaying Social Security claims or maximizing your work history—can increase your total Social Security benefits over the course of your retirement.
The claim is often used in a general sense to show what could happen if you make the right choices, but it is not an actual government payment or a guaranteed amount. It’s important to understand that this number reflects a potential increase in benefits over a long period, depending on how you manage your Social Security planning.
How to Increase Your Social Security Benefits
Although there’s no secret $16,728 bonus, there are real and proven ways to increase your monthly Social Security payments. Let’s break down some key strategies:
1. Work for at Least 35 Years
Social Security calculates your benefits based on your 35 highest-earning years. If you work for fewer than 35 years, the missing years will count as zeros, which lowers your average and results in smaller monthly payments.
Tip: Try to work for at least 35 years to avoid those zero years. The more you earn, especially in your higher-earning years, the more you’ll benefit.
2. Increase Your Income Over Time
Increasing your income, especially as you approach retirement age, can help boost your average monthly earnings, which directly affects your Social Security benefits. If you increase your earnings in the later years of your career, it can help push up your average indexed monthly earnings.
Tip: Consider ways to boost your income, such as taking on a higher-paying job or working overtime. This will help improve your Social Security payout.
3. Delay Your Claim Until Age 70
The longer you wait to claim your benefits, the higher your monthly payment will be. If you delay claiming your benefits beyond your full retirement age (which ranges from 66 to 67, depending on your year of birth), your payments will increase by 8% per year up until age 70.
Example: If you wait until age 70, you could receive tens of thousands more over your retirement years. The longer you wait, the bigger the monthly check you’ll receive.
4. Coordinate with Your Spouse (If Married)
Social Security offers spousal and survivor benefits. If one spouse is a higher earner, it may make sense for the other spouse to claim benefits based on the higher earner’s record. This strategy can maximize household income.
Tip: If you’re married, think about timing and how to coordinate your claims for the best overall benefit. While spousal benefits don’t increase if delayed, planning when and how to claim these benefits can help maximize your total payments.
Avoid False Promises of “Secret Bonuses”
There are many misleading claims online that suggest you can access a $16,728 bonus through secret rules or hidden programs. These false promises are usually tied to scams or exaggerated advertisements that want to lure in vulnerable people.
Important Reminder: Social Security does not offer special bonuses or secret programs. All reliable information about Social Security is available for free at the official SSA website (SSA.gov) or by calling 1-800-772-1213.
Key Takeaways
The $16,728 bonus is not an actual payment but a theoretical example used by financial advisors to show how strategic planning can boost Social Security benefits over time.
To increase your Social Security benefits, focus on working at least 35 years, increasing your income, and delaying your claim until age 70.
Spousal benefits can also play a key role in maximizing your total household income.
Be cautious of misleading claims online about “secret bonuses” or special programs related to Social Security. The best advice is to rely on official SSA resources or consult with a certified financial planner for personalized guidance.
While there’s no secret $16,728 bonus, there are legitimate ways to maximize your Social Security payments through smart strategies. By working for a full 35 years, delaying your claim, increasing your income, and coordinating with your spouse, you can ensure that you receive the highest possible benefits from Social Security.
Remember, it’s always a good idea to rely on official resources from SSA or consult a financial planner to create a solid retirement strategy.
