If you're retiring this year at age 70, here's the maximum Social Security benefit you could collect

There is no official retirement age in the United States, and there is no single age for receiving Social Security. Because of this, you may decide to push yourself to work until age 70 and sign up for Social Security at that time.

Doing so can result in a very generous monthly benefit. That's true whether or not you're in line for Social Security's maximum monthly benefit.

You can enjoy a good salary

Based on your personal income history, you are entitled to receive your full monthly Social Security benefit Full retirement age (FRA) is coming. That age could be 66, 67, or somewhere in between, depending on your year of birth.

But every year you delay Social security If you file beyond FRA, your monthly benefit will increase by 8%. If it isn't clear, that boost is a permanent one for you to enjoy.

Leave a Reply

Your email address will not be published. Required fields are marked *