Each Social Security category has a different set of maximum checks for its beneficiaries. Therefore, if we are thinking about requesting a retirement check in the United States it may be wise to check all the elements that make up this payment.
In some cases, the difference between one maximum check and another is really noticeable, so keeping this in mind at all times is important to be able to enjoy a large enough benefit to not have financial problems. So if we max out our check we will have a better standard of living.
Maximum Social Security checks by category
Depending on the category to which we belong, the retirement payment can reach a different maximum figure. In general, there are four basic categories when applying for retirement. On the one hand, there is the Disability check, which is not tied to the age of the beneficiary. On the other hand, we have three different categories within the retirement age.
It is not the same to retire at age 62 as it is to retire at age 67 as it is to retire at age 70. The difference in the maximum check between payment at age 62 and at age 70 is enormous. For that reason we should check well if we can wait and retire later.
The maximum checks in these categories are:
- Age 62 (Early Retirement Age): $2,710.
- Age 67 (Full Retirement Age): $3,822.
- Age 70: $4,873.
- Disability Benefits: $3,822.
As can be seen, the payment at age 62 is $2,710, while the maximum payment for retirees at age 70 reaches $4,873 in 2024. These figures are very different and there is a huge gap between the two, so it is wise to wait to get the payment at age 70.
How to get the maximum Social Security payment?
While it is true that waiting until age 70 grants us a larger Social Security check, the truth is that retirement age is not the only thing that influences the monthly retirement check. In addition, years worked and salary during those years are also key.
Thus, to get the highest Social Security payment we should:
- Retire the later the better. If we wait until age 70, the payment will be the maximum in this regard.
- Work for 35 years before retirement.
- Have a high salary during the working years.
Only Americans who maximize these three elements can get a high Social Security check. Not all checks reach $4,873, but it is possible that our benefit will be close if we manage to increase these figures.