How Long Do I Have to Work to Max Out My Social Security?
Although it should not be your only source of income in retirement, Social Security benefits will be an important contributor, replacing about 40% of preretirement income, according to the Social Security Administration (SSA). Because chances are good you'll need Social Security to help you cover costs as a senior, it's natural to wonder what -- if anything -- you can do to increase your benefits.
One common question many future retirees have is how long to work to max out Social Security benefits. The short answer is that you need to work at least 35 years, because the SSA bases your benefit on your average wages over 35 years. If you work for fewer than 35 years, your average wage will be brought down because some years of $0 wages will be factored in. However, there's even more to consider. Some of the factors that can affect your Social Security benefit include:
If you feel overwhelmed by so many abstract concepts, check out the detailed example below, which breaks down a full example calculation.
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