Retiring soon? Here are 3 ways to earn $3,895 in Social Security monthly benefits in 2021 - USA TODAY
Christy Bieber, The Motley Fool Published 7:00 a.m. ET Nov. 4, 2020 CLOSE With a rapidly growing aging population, securing Social Security funds is now more crucial than ever. But how did we get here in the first place? USA TODAY If you file for Social Security in 2021, the maximum monthly benefit you could receive is $3,895. This is well above the average benefit most retirees will get, and it's $105 more than the $3,790 maximum monthly benefit retirees could score in 2020. Of course, only a very small number of seniors will get such a large Social Security benefit. In order to be one of them, there are three steps you need to take. 1. Work at least 35 years The size of your Social Security check is determined based on average wages in your 35 highest-earning years. If you work for less time, you'll have $0s dragging down the average your benefit is based on and won't be able to earn the maximum benefit. COLA: Social Se...