Retirees can receive 3.2% more than in 2023 for their retirement benefits. The Government, through the Social Security Administration, has increased payments due to inflation.
Although the largest retirement check was $4,555, it has also become larger in 2024. In fact, this maximum amount has increased more than the 3.2% boost. The average retirement benefit boost was $59 in 2024.
| Important links |
|---|
| Food Stamps |
| PAYMENTS |
| stimulus checks |
| SSDI |
Thus, those receiving the largest retirement benefit can get a lot more than those getting an average payment boost. But who can receive a check worth 44,873 in 2024?
LARGEST RETIREMENT BENEFIT & ELIGIBILITY
Even if it is too late for some American workers to get the largest Social Security payment, they can still let them grow. Of course, this is only possible if they have not filed yet.
For example, if you are 62 years old, you could wait and delay retirement until you are 70. This is the first step to get $4,873 in 2024. What is more, this will provide you with a 24% reward from Social Security.
The number of years you have worked for is also essential. If you have just worked for fewer than 35 years, you should work longer if you want to get more money. This step is fundamental to get $4,873.
HAVE YOU BEEN A HIGH EARNER FOR MANY YEARS?
Only high earners who have had a large salary for many years can get $4,873. Therefore, it is of vital importance to improve the amount of money you get every month as a worker.
If you have earned the taxable maximum for at least 35 years, you may succeed in getting $4,873 in 2024. As a matter of fact, you must meet 4 key requirements to get such a large monthly check.
Summing up, if you have worked in jobs covered by Social Security for 35 years and earned the taxable maximum all that time, you just need to file at the age of 70 to get $4,873 in 2024.