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Social Security’s Max Benefit Unattainable to Most

A $4,873 monthly benefit is more than some people make who work full time. But few will ever earn Social Security’s maximum benefit. Maurie Backman notes the typical recipient will get less than half that. Why? The max assumes a 35 year or more working history earning at or above the maximum in taxable wages ($168,600 in 2024). Few can meet that threshold. But Backman notes saving money outside of Social Security is the best strategy for all, rather than chasing the unattainable. Full article here.

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