The maximum monthly benefit a retired worker can receive from the Social Security Administration (SSA) in 2024 is $4,873. However, this amount isn’t payable to every eligible Social Security beneficiary. Here’s what you need to be eligible for a $4,873 Social Security check every month.
Hit the earning threshold
To stand a chance of receiving $4,873 in Social Security benefits when you retire, you need to meet the maximum income requirement for Social Security benefits. This year that amount is $168,000.
However, this maximum threshold increases every year. According to the SSA’s retirement benefits requirement, you must make the maximum income every year for 35 years.
This table shows the increase in maximum annual income since 1973.
| Year | Earnings |
| 1973 | $10,800 |
| 1974 | $13,200 |
| 1975 | $14,100 |
| 1976 | $15,300 |
| 1977 | $16,500 |
| 1978 | $17,700 |
| 1979 | $22,900 |
| 1980 | $25,900 |
| 1981 | $29,700 |
| 1982 | $32,400 |
| 1983 | $35,700 |
| 1984 | $37,800 |
| 1985 | $39,600 |
| 1986 | $42,000 |
| 1987 | $43,800 |
| 1988 | $45,000 |
| 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 |
| Year | Earnings |
| 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 |
| 2024 | $168,600 |
Hence, to get the maximum benefit in 2024 you would have had to have earned the maximum annual income since 1989.
Hold off on applying for retirement benefits
Hitting the annual earning threshold for Social Security benefits consistently is not enough; it does not guarantee that you will receive the highest Social Security benefit when you retire.
The 2024 maximum monthly benefit is only paid to workers who retire at 70 (or who wait until 70 to apply for benefits). Retiring at the full retirement age of 67 will only get you a maximum monthly benefit of $3,822. Likewise, retiring at the early age of 62 will get you a maximum monthly benefit of $2,710.
A strategic approach to Social Security benefits
Clearly receiving the highest payable amount in Social Security benefits requires satisfying some fairly strict requirements. Even where that may not be possible, you can still aim to increase your chances of receiving maximum benefits. For that you should aim to work for at least 35 years, earning as much income as you can and then delay your retirement (or applying for retirement benefits) until 70.
Even if you wouldn’t be eligible for the maximum payable benefits on your situation in 2024, depending on your circumstances you might be able to over time.
