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The Maximum Social Security Benefit? Not So Generous As It Seems - Nasdaq.com
Sure, getting that 2022 maximum $4,194 Social Security sounds like a windfall to most of us. But pulling down that big check may not seem so attractive when you consider what you would need to do and how much you would have needed to earn over your lifetime to get it. This Nasdaq (National Association of Securities Dealers) article by Christy Bieber explains that you would have to earn more than the annual payroll wage cap over your entire lifetime, and wait until age 70 to claim Social Security, to snag that big Social Security payment - not something most beneficiaries can do. All of which suggests that you can’t live on Social Security alone, so saving and investing for your retirement is still crucial to a comfortable retirement. Click here to read more.
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