"Maximizing Your Social Security: Strategies for Boomers and the Average Benefit by Age"
Baby boomers can increase their Social Security benefits in 2024 by being patient and delaying their claim to grow their benefits by up to 8% per year, working an additional year to replace a lower-earning year with a higher one in their benefit calculation, and utilizing the SSA-521 do-over clause within 12 months of claiming to undo an early claim and allow benefits to accrue again. However, the SSA-521 option requires repayment of all benefits received and is a one-time opportunity.