Are You on Track to Reach the $4,194 Max Social Security Benefit?
According to the Social Security Administration (SSA), one of the primary purposes of Social Security is to provide for the material needs of aging individuals and their families.
Yet in 2022, the average monthly Social Security benefit was just $1,668, far below the maximum benefit of $4,194. I don't know about your "material needs," but for me, $1,668 is only a fraction of my basic monthly expenses.
So, how does one receive the maximum monthly benefit of $4,194, which goes a lot further in providing for one's needs? To answer that, you first need to understand how the SSA determines your monthly benefits.
Source Fool.com
