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But the differences between the maximum possible 2025 Social Security benefit at 62, 67, and 70 show the value of delaying benefits as long as possible. ... It selects the 35 highest-earning years ...
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 ...
The basic idea behind the Social Security formula is that your 35 highest-earning years are indexed for inflation and averaged, and your monthly average earnings is applied to a formula with three ...
To be eligible for the maximum monthly benefit, you must earn at least the wage base limit in each of the 35 years that Social Security uses to calculate your benefit amount. For perspective ...
And if you earned the equivalent of Social Security's annual wage cap throughout your 35 highest-paid years in the workforce, you may be in line for a $4,018 monthly check if you sign up for ...
The maximum Social Security retirement benefit in 2025 will be $5,108 per month, or the equivalent of $61,296 per year. ... Your earnings history may have the biggest impact on your final Social ...
Data source: Social Security Administration. Earning above the maximum taxable earnings for at least 35 years of your career will put you in line for a very sizable Social Security check.
In 2024, the maximum earnings subject to Social Security taxes was $168,600. This means workers paying into the system are taxed on wages up to this amount, typically at the 6.2 percent rate.