As of 2009 the maximum amount of Social Security that you can receive is $2323.00 a month. This figure is based on maximum contributions to the system for every year from your 21st birthday until you retire. Your Social Security benefits will be based on credits earned throughout your working life and will be calculated at the time of your retirement. To receive better benefits when you retire you may wish to retire at a later age or contribute separately to the Social Security Administration to boost your lifetime credits.
How do I know what my Social Security Benefits will be when I retire?
There are two ways that you can track your retirement earnings from the Social Security office. Each year you will receive a benefits statement about 6 weeks before your birthday in the mail. At that time you will have all your benefits explained to you. The other way is to visit the Social Security website. This website has a way for you to enter your information and check what your current credits are and what your determined amount would be at this current rate. The site also has ways for you to improve your retirement benefits by paying more into the system throughout your life.
Where can I find out about my Social Security Income amounts?
Visiting the Social Security Administrations website will enable you to view your current benefits and any benefits you are entitled to in the future. You can find on this site information about retirement, disability and supplemental income programs that are available to the public. You may also call or visit your local Social Security office, but be prepared for a long wait. Accessing the site from the comfort of your home will save you much time and grief.