Nearly 52 million retired workers — or approximately 90% of Americans ages 65 and up — receive Social Security, according to the Social Security Administration. The average monthly benefit amount in June 2025 was $2,005.05, per Kiplinger, though this varies based on factors like when an individual retires and their highest 35 years of earnings.
As you go about planning your retirement, it might be wise to incorporate Social Security into your plan from the get-go. That way, you’ll have a clear idea of your future income and any changes you need to make to ensure you retire comfortably and on time.
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If you’re not sure how to do this, this guide can help.
Also see five money tips for supplementing Social Security.
Figure Out the Best Time To Collect
Typically, you can start collecting Social Security between the ages of 62 and 70. However, you won’t get the maximum benefit amount until you reach the full retirement age (FRA). The FRA is based on when you were born but is between 66 and 67 years old.
You’ll generally get the highest benefit amount if you wait until you’re 70 to collect. Knowing that, it helps to plan for other sources of income — or to keep working — so you can hold off on drawing from Social Security until you’re 70.
“Timing your Social Security is one of the most important decisions you’ll make when it comes to planning for retirement,” said Frank Davis, president of New Era Financial.
Everyone’s “best” timing is subjective. To figure out yours, Davis suggested taking the following steps:
- Create an account and check your earnings history on the official website.
- Confirm your working years are listed.
- Pay close attention to your highest-earning years, as these can directly affect your monthly benefit.
If crucial information is missing, contact the Social Security Administration to find out why.
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Use a Social Security Calculator
You don’t have to run the numbers yourself. An online calculator can give you an estimate of your benefits amount based on when you retire and your earnings.
But according to Davis, online calculators “don’t account for the full complexity of retirement planning.” He suggested looking beyond age and considering things like your overall retirement plan, budget and expected time in retirement.
Find Ways To Minimize Risk
According to an AARP survey, 64% are concerned they won’t have enough savings to get them through retirement.
“Many people gravitate toward making decisions to help them maximize the amount they get from Social Security,” said Aaron Brask, principal of Aaron Brask Capital.
However, it’s also important to find ways to minimize the risk of a “worst-case scenario.” For many, this is the risk of depleting your retirement savings and living only on Social Security benefits. If that occurs, Brask suggested having a “higher safety net of Social Security benefits to fall back on.”
Part of this could mean delaying your benefits. It also means having other sources of income in place (or even a part-time job) to get you through the intervening years — from the day you retire to the day you start collecting Social Security.
Account for Inflation
According to Brask, inflation is “a known enemy of retirement security.” Unfortunately, calculators don’t always factor this in.
For the 12 months ending in June 2025, the annual inflation rate was 2.7%. The cumulative rate of inflation from 2000 to 2025, meanwhile, is 87.3%. This means an item that cost $100 back then would cost $187 today.
While you can’t know the future, it’s wise to look ahead when retirement planning. Social Security benefits do get an annual cost-of-living adjustment to try to combat inflation, but it’s not always enough. For 2025, for example, Social Security and Supplemental Security Income increased by 2.5%.
“Having a larger SS benefit will translate into larger inflation adjustments down the road,” Brask said.
Plan as a Household
Figuring Social Security into your retirement plan as a married couple can be complicated — so consider doing it together or with a professional’s help.
Here’s an example of how spousal benefits work.
“If the first spouse that passes has the larger benefit, the surviving spouse will effectively lose their benefit and jump over to their spouse’s benefit,” Brask said. “In other words, the larger benefit will be around as long as either spouse is alive. As a result, it is often optimal for the spouse with the highest benefit to maximize it via delaying until 70.”
Make Income Projections
Don’t rely only on Social Security to get you through; factor it in among everything else.
“Understanding your full income and budget for the year will help you make a more informed decision,” Davis said. “This could include income from employment, dividends, pensions, withdrawals from qualified retirement accounts, spousal earnings and any other earned household income.”
When in doubt, you can also consult a financial advisor or planner with expertise in retirement planning to integrate Social Security with your overarching plan.
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This article originally appeared on GOBankingRates.com: Use This Step-by-Step Guide To Incorporate Social Security Into Your Retirement Planning
