Millions of older Americans today get a benefit each month from Social Security. And a 2020 report by the National Institute on Retirement Security found that 40% of Americans have only Social Security to rely on for retirement income.

Social Security retirees can get a check worth up to $5,108 every single month. According to the Social Security Administration, this is the maximum benefit payment available.  It’s also a lot of money,

To receive the highest Social Security benefits, you'll have to earn at least the maximum taxable amount annually. For 2025, that's $176,100. In 2015, the amount was $118,500. Any earnings made over the maximum amount isn't taxed and won't count toward your total earnings.

Since average earnings tend to rise over time, you'd expect to see younger workers -- those with higher average monthly earnings -- receive larger checks. And we do see this to some extent. A 70-year-old claimer took home an average of about $2,037.54 in December 2023.

Your Social Security benefits can be an important part of your retirement income — but when should you start collecting them? Joining us to discuss how to carefully consider your Social Security options was Jim Lyons from Edward Jones.

The average 67-year-old retired worker gets $1,883.50 per month from their Social Security benefit, which is $22,602 per year. This is slightly less than the $1,905.31 average ben

Navigating the complexities of Social Security can be daunting, especially if you haven't accumulated the required 40 work credits.

Millions of retirees in the United States rely on Social Security benefits to meet their basic needs. However, understanding how state taxes can impact these benefits is crucial for effective financial planning.