Social Security benefits are typically computed using average indexed monthly earnings. This average summarizes up to 35 years of a worker's indexed earnings. We apply a formula to this average to compute the primary insurance amount . The PIA is the basis for the benefits that are paid to an individual.
https://www.ssa.gov/OACT/COLA/Benefits.html
Delayed retirement credits can be used to increase you benefit stipend above the maximum Social Security payment; this means if you qualify for the maximum amount, waiting a few more years to obtain Social Security could help tremendously.
https://ssofficelocations.org/whats-maximum-amount-can-receive-social-security-2018/
The Social Security Administration (SSA) uses the bend point multiplies to determine your maximum monthly Social Security benefit at your full retirement age. Full retirement age is based upon the individual’s birth year, so if you were born in 1956 your FRA is 66 years and 4 months, and if you were born during or after 1960, it’s 67 years old.
https://ssofficelocations.org/whats-maximum-amount-can-receive-social-security-2018/
Social Security Benefit Amounts. Social Security benefits are typically computed using average indexed monthly earnings.. This average summarizes up to 35 years of a worker's indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual.
https://www.ssa.gov/OACT/COLA/Benefits.html
What is the maximum Social Security retirement benefit payable? The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2017, your maximum benefit would be $2,687. However, if you retire at age 62 in 2017, your maximum benefit would be $2,153. If you retire at age 70 in 2017, your maximum benefit would be $3,538. When you’re ready to apply for retirement benefits, use our online retirement application, the quickest, easiest, and most convenient way to apply.
https://faq.ssa.gov/link/portal/34011/34019/Article/3735/What-is-the-maximum-Social-Security-retirement-benefit-payable
For 2017, the calculations reveal that the average monthly Social Security check is $1,377 with a maximum benefit of $2,687 a month. But in 2018 Social Security’s cost of living adjustment (COLA) and an increase in income that succumbs to payroll taxes will raise the average and maximum Social Security stipend benefit to $1,404 and $2,788.
https://ssofficelocations.org/whats-maximum-amount-can-receive-social-security-2018/
What's the Maximum You Can Receive? How much you receive in monthly Social Security benefits is determined by factors including how long you worked in a qualifying job, how much you made, and your age at the time you start collecting those benefits. The maximum Social Security benefit you can receive is set, and that amount changes each year. There is an incentive for people to wait until full retirement age (66 or 67 depending on when you were born) or even longer (until you reach age 70) to start collecting benefits. In 2015, the maximum monthly benefit is $2,663 if you are at full retirement age, but could be $3,501 if you wait to start to receive payments at 70 years old.
https://finance.yahoo.com/news/whats-most-money-social-security-100019695.html
For example, if you qualify for the maximum $2,788 in 2018, you’ll receive 129.33% of that amount if you wait to claim benefits until the age of 70. This will give you $3,605 each month. While it’s easy to get fixated on maximizing your Social Security check, you need to make sure to not only consider payment when reviewing your retirement options.
https://ssofficelocations.org/whats-maximum-amount-can-receive-social-security-2018/
What to Read Next. 1  Mick Mulvaney brags that he tricked Trump into proposing Social Security cuts Vox. 2  Retirement Planning for Couples Investopedia. 3  How John Kelly, a retired Marine general, reacted when Trump lashed out at him Business Insider. 4  Harvey's Made the World's Most Important Chemical a Rare Commodity Bloomberg.
https://finance.yahoo.com/news/whats-most-money-social-security-100019695.html
This person would receive a reduced benefit based on the $2,926.90 PIA. The first COLA this individual could receive is the one effective for December 2018. See the monthly benefit amount for this example and other examples with maximum-taxable earnings. Monthly Benefit Amounts Monthly retirement benefits derived from the PIA may be higher or lower than the PIA.
https://www.ssa.gov/OACT/COLA/Benefits.html
what is the maximum amount you can receive from social security
The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2017, your maximum benefit would be $2,687. However, if you retire at age 62 in 2017, your maximum benefit would be $2,153. If you retire at age 70 in 2017, your maximum benefit would be $3,538.