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Here's the Maximum Social Security Benefit for 2023. Do You Qualify?

TheMotleyFool

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Here's the Maximum Social Security Benefit for 2023. Do You Qualify?: https://g.foolcdn.com/editorial/images/713870/social-security-cards-2_gettyimages-488652936.jpg

In October, seniors on Social Security got some excellent news. They learned that due to soaring inflation levels, their benefits would be getting an 8.7% cost-of-living adjustment (COLA) in 2023. That's the largest boost to come around in decades.

Because of that COLA, the maximum Social Security benefit that will be available to seniors in 2023 is $4,555 a month. And that's clearly not a small amount of money.

But will you qualify for a benefit that large? Probably not. And that's really OK.

Source Fool.com

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