Views : 21,645
Genre: People & Blogs
Date of upload: Apr 28, 2024 ^^
Rating : 4.902 (27/1,074 LTDR)
RYD date created : 2024-05-07T01:27:34.844508Z
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In 2023, the maximum monthly Social Security benefit is $4,555 for those who wait until age 70 to claim their benefits. The maximum benefit for those who file at age 62 is $2,710 per month, while those who file at full retirement age (between 66 and 67) receive $3,822 per month. The maximum benefit for those who file at age 70 is $4,873 per month.
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Applying 35 years of inflation adjustments will inflate your nominal SS benefits exponentially, BUT, it's the same spending power as it was 35 years prior
It is just an illusion created by the power of inflation over time. The same power of compounding growth in the stock market over a 35 year period and a 5% - 7% real return (which would blow your SS payments out of the water)
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@iralevy4879
2 weeks ago
Social security benefits has nothing to do with the federal budget it’s an earned benefit paid by the employer and employee
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