Maximizing Social Security Benefits: What You Need to Know.

To receive the maximum monthly Social Security benefit of $4,555, you need to have earned the maximum taxable income for at least 35 years. The Social Security Administration stops taking out Social Security taxes from your paycheck when doing so would no longer add to your future monthly checks. The calculation of your monthly benefits check is based on the 35 years you were paid the most. To maximize your monthly payment, wait until 70 years of age to begin collecting retirement benefits.