The wealthiest seniors will take home more than $64,000 from Social Security next year.
Social Security’s wealthiest beneficiaries will take home $5,358 per month in 2027, up from $5,181 in 2026. This is the largest the maximum benefit has ever been, and seniors lucky enough to qualify for this amount will receive more than $64,000 from the program next year.
There are only three boxes you have to tick to take home the maximum checks, but most people won’t pull it off. Still, if you understand the elements that influence your benefits, you may be able to increase your Social Security checks.
1. Work for at least 35 years before applying for benefits
The Social Security Administration bases your benefit amount on your average monthly earnings over your 35 highest-earning years. If you want to take home the $5,358 maximum check in 2027, you need to work at least this long before applying for benefits.
You can still qualify for Social Security retirement checks with as little as 10 years of work history, but you will have zero-income years factored into your benefit calculation. This will significantly reduce your monthly payment. On the other hand, there’s no downside to working longer than 35 years. Doing so could increase your benefits if you’re earning more now than in the past.
2. Pay the maximum Social Security tax in your 35 highest-earning years
To claim the maximum Social Security check in 2027, you must have paid the maximum Social Security payroll tax in all 35 of your highest-earning years. That means earning the equivalent of $184,500 in 2026 dollars or $192,300 in 2027. These limits were lower in years past, but they still represented a significant challenge to workers.
This is why most people never claim the maximum Social Security benefits. Most people never earn enough throughout their careers. But that’s OK. Even if you only manage to increase your income slightly, it will still lead to permanently larger checks.
3. Wait until age 70 to apply
You must wait until age 70 to apply for Social Security if you want to receive the maximum monthly checks in 2027. Do not wait any longer than this, though. It will not grow your benefit any further.
Signing up at 70 could be the right move for you if you have other ways to cover your living expenses in the meantime and you expect to have an average or above-average life expectancy. But those lacking personal savings or in poor health may do better by signing up earlier.
Explore a few different claiming ages before deciding which one is right for you. If you don’t manage to max out your benefit, that’s OK. Go with what makes sense for you, and then figure out how you plan to cover the rest of your expenses.
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