Are You on Track for the Max Social Security Benefit?
The maximum Social Security benefit is currently $3,895 per month which equates to almost $47,000 annually, and that’s not including any spousal or family benefits their relatives qualify for. That would make for a comfortable retirement for nearly all who could get it, but good luck getting that amount. It takes patience plus a high income for over three decades and is achieved only by earning at or above the maximum threshold for paying Social Security taxes, which was $142,800 in 2021. Kailey Hagen takes readers through how to calculate what they will get, however, by sharing the formula in this piece.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.