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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. ... the 35 highest-earning years, adjusted ...
The maximum Social Security retirement benefit in 2025 will be $5,108 per month, or the equivalent of $61,296 per year. ... biggest impact on your final Social Security check. Each year, the ...
Social Security's full retirement age (FRA) is climbing to 66 years and 10 months in 2025. It's the final stop before 2026, when FRA reaches 67 for adults born in 1960 and later.
You need at least 40 of these in order to qualify for retirement benefits, and you can only earn a maximum of four credits per year. In 2024, you received one credit for every $1,730 you earned.
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 ...
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.
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.
Year. Average Monthly Benefit Among Retired Workers. Maximum Monthly Benefit at Full Retirement Age. 2014. $1,294. $2,642. 2015. $1,329. $2,663. 2016. $1,342. $2,639