TaxGuyBill
Level 15
10-09-2023
09:27 PM
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@HOPE2 wrote:
Yes for 35 years but as I knew the maximum Social Security benefit in 2023 is $3,627 at full retirement age. It's $4,555 per month if retiring at age 70 and $2,572 if retiring at age 62. If one reached the $4555 after 20 years or 25 years what is the advantage of the rest up to 35 years will be paying FICA.
You can't reach that full amount with less than 35 years. In order to get those maximum amounts you would need to 'max out' the Social Security wages for 35 years. Anything less than 35 years will result in a lower benefit.