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Data source: Social Security Administration. Here's the maximum possible Social Security benefit at ages 62, 66, 67, and 70. Determining the best age to claim Social Security will come down to ...
To be eligible for the maximum monthly benefit, you must earn at least the wage base limit in each of the 35 years that Social Security uses to calculate your benefit amount. For perspective ...
Image source: The Motley Fool. The maximum Social Security benefits at ages 62, 67, and 70. Ages 62, 67, and 70 are key ages in Social Security. Age 62 is important because it's the earliest you ...
Data source: Social Security Administration. As you can see, the 70-year-old claiming the maximum benefit in 2024 receives $58,476 in annual income from Social Security alone.
The second thing you must do to earn the max benefit is to earn the maximum income subject to Social Security payroll taxes in each of your 35 highest-earning years. In 2024, that's $168,600. In ...
Even if you're not in line for the maximum possible Social Security benefit (yet), it often makes sense to delay benefits until age 70. A 2019 analysis from United Income found that 57% of ...
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