To maximize your Social Security payments, you need at least 35 years of work-based taxable income and strong earnings during those years, exceeding or reaching the program’s taxable income threshold. Waiting until age 70 to claim benefits can increase your monthly check by 24% or more. The maximum possible monthly payment is $5,108, almost as much as the median U.S. worker’s salary. While focusing on maximizing Social Security is important, remember it shouldn’t be your sole source of retirement income. Consider investing in your own retirement nest egg for better financial security. Only a small percentage of recipients receive monthly checks over $3,000.

Read more at Nasdaq: Will You Qualify for Social Security’s Biggest Paycheck of $5,108?