Reevaluating Social Security in Retirement

For a lot of retirees, filing for Social Security felt like crossing a finish line. But the strategy behind that decision doesn't have to stay frozen the day you filed. Life shifts, and so does the way Social Security fits into your income picture. Revisiting it can be an important part of a good retirement income plan that spans a 20- or 30-year retirement, and there are a few developments right now that make this a good year to take another look.

Life Changes

There’s a lot of life events that can change the calculations behind your original claiming decision. Marriage, divorce, health changes, or a spouse retiring earlier or later than expected are common ones, but plenty of stuff can affect your income or tax situation in a big way. Spousal and survivor benefits in particular follow their own set of rules, and a change in marital status may open up new options. Even without a major event, your income sources, expenses, and tax situation may shift year to year. Social Security should be viewed as one piece of a broader financial picture that evolves over time, not a decision made once and filed away.

What the Numbers Show

The timing of when you claim Social Security is important. As of 2026, the average monthly retirement benefit sits between $2,071 and $2,083, reflecting this year's cost-of-living adjustment.¹ But Social Security rarely covers the whole picture. Retirees over 65 receive only about 31% of their income from benefits, on average.² The rest, nearly 70%, comes from savings, investments, and other sources that change over time and affect how your Social Security income should fit alongside everything else.

The Tax Thresholds That Never Moved

Here's something worth knowing: the income levels that determine whether your Social Security benefits get taxed haven't changed since 1984. Back then, only about 8 to 10% of beneficiaries owed any tax on their benefits at all. Today, that figure is closer to half, and the Social Security Administration projects it could climb to nearly 60% by 2030.³ Every cost-of-living adjustment nudges more retirees over thresholds that were only supposed to catch the highest earners. If your benefit, pension, or investment income has grown since you first filed, it's worth checking where you land now. Some retirees find that changes to their withdrawal strategy can affect the tax benefits, and that's a conversation worth having sooner rather than later.

A Check-In, not a Redo

Revisiting your Social Security strategy isn’t always about changing course. It's about giving thought to whether your original decision still works with your financial priorities. A periodic conversation can help find adjustments elsewhere in your plan, ones that make sense given how things stand now, rather than how they looked five or ten years ago.

Your income strategy should be able to keep pace with your life, not the other way around. To learn more about your Social Security strategy, contact the office to schedule a time to talk.

^{¹"Average Social Security Check in 2026: How Much You'll Get and How to Maximize Your Retirement Nest Egg." 10 JUL 2026, CNBC.com, https://www.cnbc.com/select/average-social-security-check-2026/.   
²"How Much Social Security Pays in 2026 Depending on Whether You Claim at 62, 66, or 70." 5 JUL 2026, MSN.com, https://www.msn.com/en-us/money/retirement/how-much-social-security-pays-in-2026-depending-on-whether-you-claim-at-62-66-or-70/ar-AA26NUz3.
³"Social Security's 1984 Tax Trigger Still Hits Retirees." 27 MAR 2026, TheStreet.com, https://www.thestreet.com/personal-finance/social-security-has-a-1984-tax-trigger-that-still-catches-retirees.}