Why the $4,555 Max Social Security Benefit Is a Fantasy
The size of your Social Security check when you eventually claim benefits will ultimately depend on a variety of different factors including how long you've worked, how much you've made throughout your career, and when you choose to claim Social Security.
Retirees can receive as much as $4,555 in Social Security benefits per month, or $54,660 annually. While this would be a nice amount to help get you through retirement, the reality is that obtaining the maximum Social Security benefit is a fantasy for the vast majority of people. Here's why.
Certain aspects of claiming the maximum Social Security check are very doable. For instance, one thing people must do is work for at least 35 years because the Social Security Administration calculates the full amount of benefits retirees are entitled to by using a retiree's highest 35 years of earnings. Any years below 35 that a retiree did not work will automatically become a zero, which will hurt a retiree's potential benefits.
Source Fool.com
