Want the Max $4,873 Social Security Benefit? Here's the Salary You Need.
Few people can expect to retire on Social Security alone. The average Social Security retirement benefit in May was $1,868. That's just $22,416 on an annual basis. Without any extra sources of income, you'll probably find your retirement lacking.
If you earn enough during your career, however, you could receive a much larger monthly check. The maximum benefit in 2024 is $4,873 per month, the equivalent of $58,476 per year. And that amount gets an inflation adjustment every year. That might be enough to provide for a healthy and happy retirement.
But the requirements are tough, and only a minuscule percentage of Americans will qualify for the maximum benefit each year. Here's how to position yourself to be one of the select few.
Source Fool.com
