1. Hold off on filing for benefits
Many people rush to claim Social Security at 62 because it's the earliest possible age to file for benefits. But if you're looking to boost those monthly payments, you'll want to hold off as long as possible -- which means waiting until age 70.
Though your Social Security payments themselves are calculated based on how much you earned during your career, the age at which you first file for benefits can cause that number to go up, go down, or stay the same. If you start taking benefits at what's known as full retirement age, or FRA, you'll get your base benefit amount, so to speak, in full.
Here's what your FRA will look like based on the year you were born:
Year of Birth
FRA
1943-1954
66
1955
66 and 2 months
1956
66 and 4 months
1957
66 and 6 months
1958
66 and 8 months
1959
66 and 10 months
1960
67
