The maximum Social Security retirement benefit that a person can receive depends on several factors, including their age when they begin collecting and their earnings history. The maximum benefit amount varies depending on the age of retirement. For example, if a person retires at full retirement age in 2023, their maximum benefit would be $3,627. However, if they retire at age 62 in 2023, their maximum benefit would be $2,572. If they retire at age 70 in 2023, their maximum benefit would be $4,555.

It is important to note that Social Security benefits depend on earnings, and the amount of a persons retirement benefit depends primarily on their lifetime earnings. The Social Security Administration gathers data on up to 35 of a persons highest-earning years and indexes those earnings for inflation. The more a person earns and the longer they wait to begin taking benefits, the larger their monthly Social Security check will be.

It is also important to note that there are limits on how much a person can earn while receiving Social Security benefits. For example, in 2023, if a person is under full retirement age for the entire year, the annual earnings limit is $21,240. If they will reach full retirement age in 2023, the limit on their earnings for the months before full retirement age is $56,520. Starting with the month they reach full retirement age, there is no limit on how much they can earn and still receive their benefits.