Here's the Max Social Security Benefit for Retirees in 2024, and the Salary You Need to Get It
A recent survey from MassMutual found that 4 in 10 workers aged 55 to 65 expect Social Security benefits to be their largest source of income in retirement. That aligns precisely with historical trends. Research from the Social Security Administration shows that 40% of individuals aged 65 and older received at least half of their income from benefits in 2015.
Those statistics make it critical that workers get as much income from the program as possible. But there is a problem: Very few workers can correctly identify the factors that determine the maximum payout, and that knowledge gap can have a substantial impact on living standards later in life.
Read on to see the maximum Social Security benefit in 2024, and to learn the salary retired workers need to qualify for the biggest payout.
Source Fool.com
