Your 2026 Social Security Playbook: 5 Steps to Take Before Filing
Social Security is a key part of your retirement financial plan, but you need to take quick steps to make sure you’re maximizing your benefits.
Here’s a checklist of five steps you should take before filing for Social Security.
1. Check your income statement
The Social Security Administration (SSA) uses your lifetime earnings to determine what your benefit will be. Your lifetime benefits are an average of up to 35 years of your benefits. If you have not worked for 35 years, any years you have not worked will count as zero. And each year your highest earner replaces the lowest. Higher lifetime benefits can lead to higher benefits. You want to make sure your income statement is accurate.
You can update your statement by creating an account using the Administration website (or request it by mail). The statement will include information such as your annual income. Use your tax forms to determine if the information is accurate. You can request changes online or by phone. You usually have three years, three months and 15 days from the end of the tax year in which your wages were paid to request an adjustment.
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2. Start looking for conditions
Although you can receive your full Social Security benefit once you reach your full retirement age — between 66 and 67, depending on when you were born — each year you delay receiving Social Security benefits beyond retirement age until age 70, your benefit increases by 8%.
The SSA has tools and calculators to help you determine how much you will receive in benefits based on when you enter the program, including the advantages of waiting instead of claiming benefits now. Knowing this number and calculating your living expenses can help you gauge whether now is the right time to take out Social Security.
3. Talk to your spouse
If you have a spouse, you should coordinate how you will both approach Social Security to receive maximum household benefits. If you’re married, you can claim Social Security based on your work record or up to 50% of your spouse’s full retirement age. Depending on the difference between your income and your spouse’s, it may make sense for one of you to claim a spousal benefit.
It may also make sense for one spouse to claim their Social Security benefits and the other to delay their benefits. You will want to carefully consider the options with your spouse.
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4. Prepare taxes
Social Security taxes up to 85% of your Social Security benefits, depending on your income. How much you have to pay in federal taxes on Social Security depends on your “gross income,” which includes adjusted gross income, tax-free income and a portion of your Social Security benefits.
It’s important to understand what tax bracket you’re in and how much you’ll owe in Social Security taxes, and set aside money for those taxes.
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5. Prepare your application
You can apply for Social Security up to four months before you want to receive your first payment.
The SSA will ask for certain documents, such as your tax return and birth certificate or other proof of your age. Make sure you gather all the necessary documents before sitting down to apply.
