Many people will tell you that Social Security doesn't provide enough money to allow you to retire comfortably. Many people will agree that this is true.What if you could collect $3,895 per month in Social Security? Is that enough to sustain a decent standard?This $3,895 number is not an unimportant number. It's actually the maximum Social Security benefit that you can receive in 2021.Let's now get to the good news. The $3,895 monthly benefit is not available to most seniors. Some people may be eligible. These are the steps you need to take to get that maximum payday.1. Minimum 35-years of workYour 35 highest-paid years are what determine the Social Security benefits you will receive in retirement. If you don't work for the full 35 years, your benefits calculation will include a $0 for each year that you are without income. If you want to get the maximum benefit, make sure that you work at least 35 years.2. 2. Earn a great incomeSocial security has a wage cap that is subject to change from year-to-year. This wage cap determines the amount of earnings workers are subject to taxation for Social Security purposes. It also determines how much your annual income is used in calculating your benefit.The wage cap for this year is $142,800. This means that earnings above this point won't be subject to Social Security taxes. You will not receive a higher benefit. There is a good chance that the wage cap for next year will be higher than it was in previous years. To be eligible for the maximum Social Security benefits, you must have earned enough to reach the wage limit limit for at least 35 consecutive years.3. Do not file until you are 70 years old.You will be able to claim generous Social Security benefits if you work for 35 years and earn a good salary. However, if you want to receive the maximum benefit, it is important that you delay filing. This means you should claim benefits before age 70.You should now know that your monthly benefit is based on your wages history and you are entitled to it much sooner than you think. You can get the full benefit once you reach full retirement age. You can retire at 66, 65, or 67 depending on your age.They increase by 8% for every year that you delay in claiming benefits. You can't increase your benefits beyond 70 years of age, but if you wait until then, you might be able to get the maximum Social Security payments.Do your bestIt is not easy to get the maximum Social Security benefits. It's not impossible to achieve the maximum Social Security benefit. Focus on what you can do to increase your benefit. This could be extending your career for another year, fighting for a raise at your workplace, or delaying your filing until it is possible.It is possible that you won't end up receiving $3,895 per month in Social Security. However, this doesn't mean that you won't be happy with the benefits you receive.
