How would you like to take home nearly $62,000 in Social Security benefits each year? That's the reality for some of the program's wealthiest beneficiaries. These aren't just people who earned a lot of money during their careers. They also had a deep understanding of the factors that influenced their Social Security checks.
If you'd like to join them, you have to do three specific things. You can start laying the groundwork right now, even if you're a long way off from signing up for benefits.
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1. Work at least 35 years before retiring
The Social Security Administration bases your benefit on your average monthly income during your 35 highest-earning years, adjusted for inflation. This is known as your average indexed monthly earnings (AIME).
You can still be eligible for checks with a work history of less than 35 years, but you might get smaller checks than you were expecting. That's because the Social Security Administration will add zero-income years to your AIME calculation. That, in turn, reduces the benefit available to you.
On the other hand, there's no downside to working longer than 35 years. If you're not earning a lot later in life, you won't have to worry about those low-earning years weighing down your average. More likely, you'll probably be earning more as you near retirement than you did earlier in your career. After you pass that 35-year mark, those earlier, lower-earning years will begin to drop out of your benefit calculation.
2. Earn the maximum taxable income during your 35 highest-earning years
To qualify for the largest Social Security checks, you also have to pay the maximum amount of Social Security taxes during your 35 highest-earning years. Most people pay Social Security taxes on all their income, but that's not true for wealthy Americans.
Social Security taxes have a ceiling. In 2025, it's $176,100, but it goes up a little every year. You must hit or exceed this cap annually to be eligible for the max Social Security check, which currently sits at $5,108 per month.
This is the barrier that usually stops people from claiming the biggest benefit. But you can still leverage this knowledge to grow your own checks. Anything you do today to increase your income will help you grow your Social Security benefit, as long as you're earning less than the maximum taxable earnings.
3. Delay your Social Security claim until 70
You become eligible for Social Security at 62, and many choose to sign up then. But doing so can shrink your checks by up to 30%. The Social Security Administration has an early claiming penalty for all those who apply for benefits before their full retirement age (FRA). This is 67 if you were born in 1960 or later. Older adults may have younger FRAs.
You also have the option to delay Social Security past your FRA. Your checks continue to grow until you qualify for your maximum benefit at 70. If you want the largest checks the program offers, you must wait until then to apply.
Of course, that also means you need to cover your living expenses on your own until 70. If that's not feasible for you, you may have to sign up early. Claiming early could also be the smart play if you have a short life expectancy. However, if neither of those things apply, you could get a larger lifetime benefit by delaying Social Securityuntil your FRA or later.
Ultimately, though, there is no wrong answer as to when you should sign up. Just make sure you understand how your claiming age and the other factors above will affect your checks before you fill out your application.
