The configuration of Social Security payments in the United States depends on three essential elements. By combining those three elements we can calculate our Social Security retirement check. So if we take that into account we must also understand that there are states in which the payment will be higher than in others.
Among these elements we find the salary as a worker. Another element is the years worked and finally, the retirement age is also important. To get the biggest Social Security check possible we must squeeze these three details to the maximum. And in some states this is more possible than in others.
It is true that retirement age is something we can choose for ourselves. But salary as a worker and years worked can get a little out of our control. So in states where those two elements are more prosperous, it will always be easier to reach a high Social Security figure. And that is precisely what happens with this list of the states with the highest benefits.
Keeping in mind that the elements that make up this check can vary greatly from state to state we have an answer as to why retirees in one state get paid more than in another. So take a look at the list of states where we will get a higher Social Security to see if it is better for your future to go work in one of them.
STATES WITH THE BIGGEST SOCIAL SECURITY CHECKS
Before we look at the list of states, it is important to understand that just because you live in one of these states, you will not get a Social Security check. Each benefit is completely unique and individual. That is why each citizen gets a different check. It is possible to live in one of these places and have a small check, but in this list we will talk about the average payment.
These are the states where the average Social Security payment is highest:
- 10. Utah. $1,901 per month.
- 9. Massachusetts. $1,910 per month.
- 8. Michigan. $1,918 per month.
- 7. Minnesota. $1,924 per month.
- 6. Washington. $1,9333 per month.
- 5. Maryland. 1960 dollars per month on average.
- 4. New Hampshire. 1,994 dollars per month.
- 3. Delaware. 1,998 dollars per month on average.
- 2. New Jersey. 2,020 per month.
- 1. Connecticut. 2,020 per month.
Each and every one of these states exceeds the average benefit of $1,888 per month. So if you live in one of these places and have a Social Security benefit you need to know that you are likely to get a little more money than other Americans living in other states.
HOW TO INCREASE YOUR RETIREMENT CHECK?
To maximize your Social Security check, no matter where you live, you need to maximize the three elements listed above. We have to monitor very well the years worked, the salary during those years and the retirement age.
These are the three elements and the best recommendations with them:
- Retirement age. The best option is to wait until age 70 to get the best Social Security possible. If we apply for retirement at 62 we are going to get only 70% of the money we have contributed as a worker. The minimum age to obtain 100% is 67 years old.
- Salary. A high salary means that we pay more taxes. And if we pay more and contribute more we can have a better Social Security check in the future.
- Years worked. The Social Security check is calculated from the 35 years worked with the highest salary. If we work under 35 years, each year not worked adds $0 to the average. This lowers the check we will get at the end.
To get the maximum benefit in 2023 of $4,555 per month we must maximize all of these aspects. Even so, we can still get a good Social Security payment without the need to reach such a high figure.