The maximum Social Security benefit for an individual turning full retirement age in 2020 is $3,011. That’s a lot of monthly income! But how likely is it to get that amount or even close to it? After all, the average benefit is about half that amount at $1,503 per month. So how do you get your benefit from the average - to the maximum? The simple answer is earnings but it may not take as much as you think. πSocial Security Questions? Join my FREE member's group on Facebook π
πHave you bought my bestselling book "Social Security Basics"? Find it on Amazon
RESOURCES
My video on how to calculate Social Security benefits
Your step-by-step guide to setting up your mySSA account (to get your earnings history)
Entire POMS section that deals with “Wage Development” which includes the pertinent sections on the maximum benefit.
SSA webpage on the Maximum Social Security Benefit
Historical maximum wages for the determination of the max Social Security benefit
SSA webpage on historical maximum social security benefit amounts
See Disclosures Below
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⚠️I am not an attorney or SSDI advocate. Furthermore, since I don’t really know you, I can’t give you advice. Please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. If you want to find out more about officially hiring me for non-SSDI related stuff, check out
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πHEAR YE HEAR YE: Some of my videos contain links to third party products, apps, and services. If you click through, I may receive a small referral fee to my media company (Carroll Media Properties) through their referral program. Rest assured, I only recommend products or services that I believe will be helpful and informative to my audience.
#devincarroll #socialsecurity #socialsecurity2020
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