PUBLISHED
FRI, NOV 6 202011:38 AM ESTUPDATED FRI, NOV 6 202011:40 AM EST
Robert Exley Jr.@ROBERTEXLEY
MacKenzie Sigalos@KENZIESIGALOS
WATCH NOW
VIDEO02:59
Calculating the maximum check you can get from
Social Security
More
than 69 million people
received monthly Social Security checks in 2019.
Nearly
nine out of ten people aged 65 and older receive Social Security benefits,
making it an essential part of retiring in the U.S.
Benefits
are based on your income, the year you were born and the age you decide to
start taking money out. But there are limits to how much you’ll
receive.
To
get the maximum benefit possible next year, you would need to retire making
137,700, according to the Social Security Administration.
Check
out this video to see how much the monthly check will be if you start
collecting benefits at your full retirement age.
More
from Invest in You:
How Walmart and other big companies are trying to recruit more teenage
employees
Americans are more in debt than ever and experts say
‘money disorders’ may be to blame
How much money do you need to retire? Start with $1.7
million
Disclosure:
NBCUniversal and Comcast Ventures are investors in Acorns.
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