3 Steps to Claiming the $4,194 Max Monthly Social Security Benefit
Social Security isn't designed to replace your pre-retirement paycheck in full. If you're an average earner, you can expect your benefits to take the place of roughly 40% of your former wages. If you're an above-average earner, those benefits might replace even less of the income you're used to.
Still, it's a good idea to get as much money from Social Security as you can. You might even try to chase the maximum monthly benefit the program will pay.
That number changes every year. But right now, it's $4,194. Multiply that by 12, and you're looking at over $50,000 in annual Social Security income by snagging the maximum monthly benefit. But to pull that off, you'll need to stick to these three steps.
Source Fool.com
