Here's Exactly How to Optimize for the $4,555 Social Security Monthly Max
When planning to collect stable retirement income, Social Security naturally rises to the top of retirees' minds. To collect the maximum check in retirement, you'll need to check three major boxes throughout your working career. Regardless, focusing on increasing your monthly check -- even if you don't end up earning the maximum -- is a smart idea.
Here, we'll briefly review the three major actions that lead to a $4,555 monthly Social Security benefit.
The first step in achieving the maximum monthly payout for Social Security is to earn a substantial amount -- consistently -- throughout your working career. The maximum taxable wage base is the level of earnings at which Social Security taxation stops; if you're able to earn at least the taxable wage base, you'll earn the maximum Social Security credit for the year in question.
Source Fool.com
