• Social Security
  • Retirement
  • Disability
  • Pension
  • Disability Insurance
  • Medicare
  • Viral
  • Stimulus check
  • COLA
  • SSI
  • SSDI
  • Taxes
Tuesday, January 31, 2023
Trends, wellness and entertainment news
  • Home
  • Money
  • Disability
  • Retirement
  • COLA
  • SSI
  • SSDI
  • Tax
  • IRS
  • Social Security
No Result
View All Result
  • Home
  • Money
  • Disability
  • Retirement
  • COLA
  • SSI
  • SSDI
  • Tax
  • IRS
  • Social Security
No Result
View All Result
Trends, wellness and entertainment news

Social Security Administration announces the best way to get the maximum benefit in 2023

Getting the maximum Social Security check of up to $4,558 per month in 2023 is only possible by meeting a few requirements

Abraham Quirós Villalba by Abraham Quirós Villalba
14/01/2023 03:47
in Money
Find out how to maximize your pension check in 2023

Find out how to maximize your pension check in 2023 - CANVA

ADVERTISEMENT

Which states have the highest property tax in the USA?

24 hours to get the new Supplemental Security Income (SSI) Social Security check

Disability users to receive new Social Security check next week

The United States Social Security Administration’s retirement benefit checks are different for each beneficiary. The final dollar amount for each Social Security beneficiary depends on factors that can be modified over the course of a worker’s lifetime. Likewise, these factors can be modified and maximized so that an age pensioner can receive the maximum check of $4,558 in 2023.

ADVERTISEMENT

This is the maximum pension check in this year 2023. Last year, year 2022, Social Security was issuing checks of up to $4,194 at most. The increase in these checks is because the COLA has caused a stimulus thus increasing the money in each check by 8.7%. This COLA increase is not just for the maximum checks, but for all SSA checks.

For that reason, pensions in 2023 go to a maximum of $4,556, which is 8.7% more than last year. On the other hand, the average dollar amount of these checks is about $1,827 in this current year. This will increase every year depending on the increase in prices and inflation. The final figure is always decided in October, but the increase in prices is what mainly influences the COLA.

How to get the largest Social Security in 2023?

To get the largest possible Social Security check in 2023 you have to maximize three elements.

ADVERTISEMENT
Social Security could be up to 4,558 dollars in 2023
Social Security could be up to 4,558 dollars in 2023 – CANVA
  1. Retirement age.
  2. Salary as a worker.
  3. Years worked.

These three elements are essential for the Social Security check to reach the maximum of $4,558 in 2023. It should also be noted that in order to receive the maximum check, it is necessary to start the retirement plan well in advance.

For one thing, retirement age determines the final amount we will receive. Even if we manage to contribute a huge benefit, if we apply for retirement before the age of 67 we will see a reduction in the monthly check.  Retirement at age 62 means losing 30% of the monthly check. If we wait until the age of 70, something that many experts recommend, we will get a very interesting increase of the Social Security check.

The salary as a worker influences the pension

In terms of salary as a worker and years worked, we can say that these two elements go hand in hand. Working a minimum of 35 years is indispensable in order not to have any kind of penalty. Each year not worked below that amount causes the Social Security check to add 0 to the average contribution. As for the salary, the idea is quite easy to understand. The more taxes we pay, the more money for our Social Security check we contribute.

ADVERTISEMENT

Maximizing these three factors will be the best way to have the best golden years possible. Mind you, getting the maximum check of $4,558 in 2023 is a very difficult task that requires years of planning, but it is not impossible. Also, keep in mind that it is not necessary to have such a high paycheck to live in many cities, so we can plan for retirement in a different way.

Tags: COLAmoneypaymentretirementSocial SecurityViral
ADVERTISEMENT
  • Legal Notice
  • About us
  • Privacy Policy & Cookies
  • Tododisca EN
  • Sitemap

© 2022 Tododisca - Social Security News

No Result
View All Result
  • Home
  • Money
  • Disability
  • Retirement
  • COLA
  • SSI
  • SSDI
  • Tax
  • IRS
  • Social Security

© 2022 Tododisca - Social Security News