Here’s some bad news and good news about Social Security. First, the bad. The average monthly Social Security retirement benefit was only $1,981 as of February — which amounts to roughly $23,772 over the course of a year. That’s just an average, though. Clearly, millions are receiving more (and sadly, millions are receiving less).
Here’s the good news. The maximum Social Security retirement benefit in 2025 is far higher, at $5,108 — or about $61,300 for the year. That’s more like it, right? Unfortunately, it’s really, really hard to qualify for that maximum. For most of us, it’s impossible.
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Still, you may be able to make your future Social Security benefit bigger. Let’s dive into some details, starting with the three criteria you need to meet to qualify for that maximum.
1. Work for at least 35 years
First off, you’ll need to work and earn money for at least 35 years. That’s because the formula used to calculate benefits is based on your earnings (adjusted for inflation) in the 35 years in which you earned the most.
2. Earn the maximum for 35 years
Next is the hardest criterion to meet: earning the maximum in each of the 35 years that are counted. While all of your earnings may be taxed for Social Security each year, that’s not the case for higher earners. There’s a maximum taxable earnings sum that’s updated annually, and for 2025, it’s $176,100. Anyone earning more than that in 2025 won’t be taxed on income above that threshold.
That $176,100 amount is also the maximum earnings that count toward the calculation of benefits. So if you’re aiming for the maximum benefit in retirement, you’ll need to earn at least $176,100 in 2025 — and to have earned at least the maximum in each of your 34 other counted years. See? That’s a tall order. You probably have a decade or two or three of sub-maximum earnings in your record already and probably don’t have time to replace those earnings with fresh, maximum ones.
3. Delay claiming your benefits until age 70
While the first criterion is achievable for many people and the second one is not possible for many people, a fair number of folks will be able to achieve the last requirement for that maximum Social Security benefit: delaying claiming benefits until age 70.
Let’s set the scene. You can start collecting your benefits as early as age 62, and you can delay doing so until age 70, with your benefits getting bigger or smaller depending on when you claim. Much depends on your “full retirement age” (66 or 67, depending on when we were born) — the age at which you can start receiving your “full” benefits based on your earnings history.
The table below spells it all out rather clearly, showing the percentage of your full benefits you’ll receive depending on when you claim:
|
Start Collecting at: |
Full Retirement Age of 66 |
Full Retirement Age of 67 |
|---|---|---|
|
62 |
75% |
70% |
|
63 |
80% |
75% |
|
64 |
86.7% |
80% |
|
65 |
93.3% |
86.7% |
|
66 |
100% |
93.3% |
|
67 |
108% |
100% |
|
68 |
116% |
108% |
|
69 |
124% |
116% |
|
70 |
132% |
124% |
Source: Social Security Administration.
Whether you end up with average benefits or maximum benefits, various studies suggest that most of us will collect more in total benefits if we can delay until age 70. It’s not the best move for everyone, though, so be sure to think through the when-should-I-claim-my-benefits question carefully.
How to beef up your Social Security benefits
If it’s starting to dawn on you that you’re not going to be qualifying for the maximum Social Security benefit, take heart. Very few people will qualify. More important is this: You can probably make your future benefits bigger.
The three criteria above offer clues as to how. For starters, do work at least 35 years if you can. And even better, if you’re earning more these days than you used to earn (adjusted for inflation), every additional year you work beyond 35 will kick out a lower-earning year. That alone can beef up your benefits.
Next, even if you can’t earn that maximum amount that counts for Social Security, you may be able to earn more than you’re currently earning. Maybe take on a part-time job or side gig for a few years, for example. Maybe ask for a raise — lots of people who ask for raises get them. And again, aim to claim your benefits closer to age 70 than to age 62. Each of these things can help increase your future Social Security benefits.
Since Social Security — even that $5,108 monthly benefit — isn’t likely to provide all the retirement income you’ll need or want, be sure to have a solid retirement plan. You’ll need to estimate how much income you’ll need in retirement and then figure out how you’ll get it. It’s smart to aim to have multiple income streams for your retirement, too, so that if one ends up disappointing you, you’ll still have others.
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