In the United States, the annual COLA causes retirement checks to go up a little each year. So the maximum retirement check in 2022 is not the same as in 2023. Each new year we see an increase that brings benefits into balance with respect to price increases and inflation.
The maximum check we can get with retirement at age 62 is $2,572 per month. This does not mean that all retirees who apply for this check will reach that figure. It is quite possible that the check will not reach such a high amount. It all depends on the work history of each citizen.
In order to reach the $2,572 figure by applying for retirement at age 62 we have to maximize the check. When setting up the Social Security benefit we must take into account three different aspects. One is the age at which we apply for the check.
Therefore, since the age at which we apply for the check we cannot modify it, since the idea is to have retirement at age 62, we must take into account the other two aspects.
The first of these elements would be the years worked. In order to reach the highest Social Security figure possible, we must work 35 years before applying for retirement. It is not mandatory to work all this time in a row, since it is possible to work in different years.
The other element is the salary during those years worked. The higher the salary, the higher the benefit we will have later. The Social Security Administration takes into account the 35 years worked with the highest salary.
By maximizing these two elements we could have the best possible retirement, even at age 62.
However, if you don’t have a large check, you can always apply for Supplemental Security Income after age 65. This extra benefit will grant a check of up to $914 to eligible Social Security citizens.