Social Security, issue payments
Digest more
Social Security's Maximum Monthly Benefit Is Getting Harder to Qualify For. Here's Why. Social Security benefits are based on lifetime earnings. There's a maximum benefit you can qualify for based on your income history and filing age. It's getting harder to snag Social Security's maximum benefit for one big reason.
Many Americans rely on Social Security as income to cover their living expenses and basic needs. Each month, the Social Security Administration issues payments to these Americans so they are able to cover a variety of expenses, from food to housing to medical care.
Age 62 is a significant one in the context of Social Security. The reason? It’s the earliest age to sign up for monthly benefits. In fact, 62 has long been the most popular age for claiming Social Security because many seniors either don’t want to wait to get their money or can’t afford to