Social benefits: What do you need to do to get the maximum payments?
Social benefits: What do you need to do to get the maximum payments?

Social benefits: What do you need to do to get the maximum payments?

WAs you approach retirement and start thinking about social security benefits, it is difficult to predict exactly how much you will earn per week through this program. This is because your amount of social security benefits depends on a number of factors.

Right now, in 2022, the maximum amount that can be earned in social benefits per. month, is $ 4,194 per. month.

In this guide, we will outline who can claim that top-level benefit and how to make sure you get the highest possible amount.

How do you get the maximum social security payments?

To qualify for the maximum Social Security payment, you must continue to reach the maximum taxable income limit throughout your career.

This is because your social security benefits are calculated by taking your average salary over the 35 highest income years of your career, with this adjusted for inflation.

In other words, to get the highest possible amount, you must have hit the maximum taxable earnings at least 35 times.

Another thing to keep in mind is the fact that your amount of social security benefits will change depending on what age you start claiming, which you could claim at age 62, 67 or 70.

By claiming from the age of 62 onwards, this reduces your check to 30 percent less than you would receive if you claimed social security at the age of 67.

By waiting until 70, you can earn even more, even if it is less common. Those who do not claim social benefits before the age of 70 can enjoy an eight percent annual increase in benefits.

Given that these “wage increases” last the rest of your life, it is a difficult decision to make. But to answer the question of how to maximize your social benefits, the formula is to earn at the top level for at least 35 years and wait until you turn 70 before making claims.


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