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The maximum Social Security retirement benefit in 2025 will be $5,108 per month, or the equivalent of $61,296 per year. Here's who can expect to receive that much next year. A check from the ...
Data source: Social Security Administration. Chart by author. Despite earning comparable salaries throughout their careers, the 70-year-old person can receive a monthly benefit 80% higher than ...
The wage base limit in 2025 is $176,100, so if 2025 will be one of the years used to determine your monthly Social Security benefit, that's the minimum amount you can earn and still be eligible ...
To receive the maximum monthly benefit, you'll need to earn at least the wage base limit in each of the 35 years that Social Security uses to calculate your benefits.
Collecting the maximum Social Security benefit does not require you to earn millions of dollars each year as there's an annual limit on the amount of individual wages the government taxes for the ...
The second thing you must do to earn the max benefit is to earn the maximum income subject to Social Security payroll taxes in each of your 35 highest-earning years. In 2024, that's $168,600. In ...
This means that someone earning $176,101, $1 million, and $10 million in 2025 will all pay the same amount of Social Security payroll taxes. To earn the maximum $5,108 monthly benefit, you must ...
In contrast to these maximum amounts, the average Social Security benefit is quite a bit lower – about $1,706 per month, as of August 2023. That’s less than half of the maximum benefit for a ...