How Much Social Security Did High- and Low-Income Retirees Get in 2023?
Many people have unrealistic ideas of what Social Security can do for them. That's why it can be helpful to look at how much current retirees are actually bringing home, so you can plan for what role your benefits will play in your own life. Here's how much the highest and lowest earners can actually expect to receive when they get their monthly checks.
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In 2024, the maximum monthly Social Security retirement benefit is $4,873 for someone who retires at 70. It's $3,822 for those who retire at full retirement age which is 66 and 8 months for those turning 66 this year. , And it's $2,710 for someone who retires at the age of 62 in 2024. The minimum benefit is $50.90 for someone who had just 11 years of qualifying work, or $1,066.50 for someone who worked for at least 30 years. These are the extremes based on how much or little a person earned.
Source Fool.com
