Retirees who meet all the standards and file their taxes in 2024 will get $3,822 every month from the government. Some workers can still get even more money from their Social Security checks and direct payments.
No one said it would be easy, but some American workers can make it happen. Your Full Retirement Age (FRA) is the first thing you should think about. Do you know when your FRA is?
Social Security’s Full Retirement Age in 2024
The Full Retirement Age is 66 years and 8 months old as of 2024. That’s the age at which you can start getting retirement benefits and get all of them, no cuts. No matter what, you won’t get any extra money.
You can get up to $4,873 if you wait to apply for Social Security until you are 70 years old. You can only get up to $3,822 if you file at FRA, so there is a big difference.
People who were born after 1960 or in 1960 have reached full retirement age at age 67. As you may have guessed, 65 is no longer the full retirement age. Instead, it has been slowly going up over the years.
Social Security check of up to $3,822 & eligibility
In the United States in 2024, you must work until you reach Full Retirement Age and meet other requirements in order to be eligible for a direct deposit worth $3,822. It will be easier to do some of them than others.
As an example, you have to work for at least 35 years. People who haven’t worked in a while will have their pay cut. Yes, this is important even if you can’t get the $3,822 payment. It helps you get more money. The other rules are these:
- Earn the taxable maximum (contribution and benefit base) for 35 years
- have jobs covered by SSA
- file for retirement benefits
- remain eligible to be able to collect Social Security payments (do not go to prison)