The maximum Social Security check in 2023 is $4,555 per month. But if you're planning to start benefits soon, you probably shouldn't expect anywhere close to the maximum. In January 2023, the average monthly benefit for retired workers is just $1,827 per month.
Wondering if you could be one of Social Security's top earners in retirement? Here's the salary you'll need to score the maximum benefit.
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Who's eligible for the maximum Social Security benefit?
Qualifying for the maximum Social Security benefit isn't exactly easy. To receive $4,555 a month, you'd need to:
- Start benefits in 2023 at age 70. If you retired at age 62, which is when you become eligible for benefits, the maximum benefit is $2,572. For those starting benefits at the full retirement age, now 67, the maximum benefit is $3,627.
- Work a minimum of 35 years.
- Earn at least the Social Security maximum taxable income -- the amount of your earnings that are subject to the 6.2% Social Security tax -- for at least 35 years.
For most retirees, the third requirement presents the biggest hurdle.
How much do you have to earn to collect $4,555 per month?
Social Security's maximum taxable income increases virtually every year. In 2023, this cap is set at $160,200. If your earnings for the year exceed this amount, Social Security will still consider your income to be $160,200 in 2023. You won't pay the 6.2% Social Security tax on earnings above this amount, either.
Here's a look at Social Security's maximum taxable income for the past 35 years:
| Year | Earnings |
| 1989 | $48,000 |
| 1990 | 51,300 |
| 1991 | 53,400 |
| 1992 | 55,500 |
| 1993 | 57,600 |
| 1994 | 60,600 |
| 1995 | 61,200 |
| 1996 | 62,700 |
| 1997 | 65,400 |
| 1998 | 68,400 |
| 1999 | 72,600 |
| 2000 | 76,200 |
| 2001 | 80,400 |
| 2002 | 84,900 |
| 2003 | 87,000 |
| 2004 | 87,900 |
| 2005 | 90,000 |
| 2006 | 94,200 |
| 2007 | 97,500 |
| 2008 | 102,000 |
| 2009 | 106,800 |
| 2010 | 106,800 |
| 2011 | 106,800 |
| 2012 | 110,100 |
| 2013 | 113,700 |
| 2014 | 117,000 |
| 2015 | 118,500 |
| 2016 | 118,500 |
| 2017 | 127,200 |
| 2018 | 128,400 |
| 2019 | 132,900 |
| 2020 | 137,700 |
| 2021 | 142,800 |
| 2022 | 147,000 |
| 2023 | 160,200 |
Data source: Social Security Administration.
Each year, only about 6% of workers earn enough to hit the taxable maximum. Your lifetime chances of having earnings above this amount during a single year of your career are around 20%.
Suppose you're retiring this year and your 35 highest-earning years were 1989 through 2023. You'd need to have earned at least the amount listed in the chart for each of those 35 years. You can't collect the $4,555 maximum benefit if you fell short in a single year -- even if your earnings in other years significantly exceeded the limits.
This makes it easy to see why it's so hard to squeeze a $4,555 check out of Social Security. Earnings often peak during the later years of your career. Even if you're making well above the $160,200 threshold now, you probably had some years when your earnings were below the taxable maximum.
Should you count on getting Social Security's maximum benefit?
As of December 2021 (when the maximum monthly benefit was $3,895), only about 10% of retired workers received Social Security checks above $2,600. So the vast majority of people shouldn't plan to collect Social Security's maximum benefit.
If you've earned enough during your career to come within spitting distance of the maximum benefit, you probably won't rely on Social Security too heavily in retirement. It's those with lower earnings who need to focus on getting the biggest possible Social Security check, as they've probably had less opportunity to invest for retirement.
No matter what your salary, the three basic strategies for boosting your Social Security boil down to: Work longer, earn more money, and delay as long as possible. And of course, any extra money you're able to invest to supplement your future benefits will help make your golden years a lot more enjoyable.
