Social Security and You
You have literally thousands of options
Choosing when and how to claim can significantly affect your lifetime income. We’ll help you cut through the noise and build a strategy that fits your goals, health, work plans, and spouse’s benefits.
Five Things You Should Know About Social Security (2025)
Understand the basics, avoid costly mistakes, and learn how timing and earnings affect your benefit.
Four Types of Benefits
Social Security pays Retirement, Survivor, Spousal/Dependent, and Disability benefits. Start by identifying which applies to you.
Retirement Savings Are Often Limited
For many Americans, Social Security is a core source of retirement income—planning early helps, but it’s never too late to improve your outlook.
A Program With History
Created on August 14, 1935, Social Security remains a key financial safety net and adjusts benefits over time via annual COLAs.
How Much of Your Income It Replaces
On average, Social Security replaces about 40% of pre-retirement earnings—most retirees will need additional income sources.
Average Monthly Benefit (2025)
The average retired-worker benefit is about $2,000/month in 2025 (varies by work history and claim age).
You Earned It — Maximize It
Benefits offer lifetime income and COLA protection. Smart timing and coordination can increase lifetime payouts.
“Davis Capital Corp helped me understand the trade-offs of filing at 63 vs. later. Highly recommended.” — Client Review
“Thank you—this was extremely helpful. The support your team provides is invaluable.” — Client Review
Frequently Asked Social Security Questions
1) When can I take my Social Security benefit?
As early as 62 (reduced), at your Full Retirement Age (100%), or delayed up to 70 (about +8%/yr after FRA). The right time depends on health, longevity, income needs, and survivor goals.
2) How your benefit is calculated
SSA uses your 35 highest earning years to compute your benefit. Filing before/after FRA permanently decreases/increases your monthly amount.
3) Working while receiving benefits: 2025 earnings limits
- Under FRA all year (2025): Limit $23,400; SSA withholds $1 per $2 above the limit.
- Reaching FRA in 2025 (before the month you reach FRA): Limit $62,160; SSA withholds $1 per $3 above that amount.
- At/after FRA: No earnings limit.
4) Spousal benefits
At FRA, a spouse may receive up to 50% of the worker’s PIA. Claiming early reduces the amount; caring for a qualifying child can affect reductions.
5) Survivor benefits
A surviving spouse can receive up to 100% of the worker’s benefit at FRA; reduced benefits may start as early as age 60 (age 50 if disabled).
6) Divorced-spouse rules
You may qualify based on an ex-spouse’s record if the marriage lasted 10+ years, you’re the appropriate age, and you’re currently unmarried (with specific exceptions for survivor benefits).
7) Are benefits taxable?
Depending on your combined income, up to 85% of benefits may be taxable. Thresholds of $25,000 (single) and $32,000 (married filing jointly) are unchanged for 2025.
8) How do I apply?
Online: Fastest at ssa.gov/apply. Phone: 1-800-772-1213 (TTY 1-800-325-0778). In person: Book your local office. Have SSN, proof of age, recent W-2/1099, direct-deposit info, and family details ready.
Note: Average benefit amounts update throughout the year. For personalized guidance, connect with us.
A Look Into Our Process
When establishing an effective retirement plan, we begin by assessing your willingness to engage in the funding process for your retirement. Following this, we will conduct a thorough fact-finding session and meet with you to gain a comprehensive understanding of your current financial situation, along with your unique goals and needs. This allows us to create a retirement plan that is customized specifically for you.
Readiness & Goals: Align on participation, priorities, and the outcomes you want from planning.
Fact-Finding & Fit: We review your current financial picture and clarify needs to tailor your plan.
Plan & Projection: We prepare a retirement income projection that accounts for all relevant sources.
Straightforward Option (when appropriate): If a full projection isn’t necessary, we may propose a simple allocation of a portion of assets to generate supplemental income while emphasizing safety and growth.