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Maximum and Average Social Security Benefits

The differences between the average Social Security benefit of $1,657 per month and the maximum one of $4,194 are pretty stark. While most would prefer the higher amount, as Christy Bieber explains, that is unattainable to most. Here’s why. To get the max, one would have had to earn at or above the maximum taxable wages each year of their 35 year working career. For 2022 that would be $147,000., and that also means payroll taxes are not collected once the max is reached. Of course there are still ways to maximize one’s own benefit. Making sure to work at least 35 years (to avoid any “zero” calculation years) and waiting until age 70 to claim benefits are the best ways. Full piece here.

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.

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