Are You Eligible for the $4,194 Max Social Security Benefit?
It was never intended to serve as an individual's chief source of retirement income, but for most investors, Social Security will play a big part in funding their golden years. It only makes sense to maximize the benefit to the fullest extent possible, which for some workers can be surprisingly significant. In 2022, a handful of Social Security check recipients will be collecting the maximum possible payment of $4,194 per month.
If you plan on starting your Social Security benefits this year, are you eligible for this amount? Here's who will be able to claim this level of benefit in 2022.
It's an often-unrealized detail, since most workers don't earn enough to max out their yearly FICA (Federal Insurance Contributions Act) contributions. But not all of your income is taxed by the Social Security Administration for the purpose of building up your benefit base.
Source Fool.com