Social Security’s 2026 maximum is $5,181 a month; getting it requires claiming at 70 after 35 years of earnings at each year’s taxable maximum. The 2026 cap is $184,500, and about 6% of covered workers earn above it in any given year, SSA data show.
Workers born in 1960 or later reach full retirement age at 67; delaying until 70 raises benefits by 24%, SSA says. Years without covered earnings count as zero, and below-cap years can keep a calculated benefit below the ceiling. Bipartisan Policy Center director Emerson Sprick said the program’s value is its guaranteed, inflation-protected income for life.
The Bipartisan Policy Center’s bridge approach uses 401(k) or IRA savings to cover expenses while delaying a claim until 70. A three-year bridge from full retirement age to 70 could require about $180,000, based on AARP’s estimate of roughly $60,000 in annual essentials spending for people 65 and older. Traditional 401(k) and IRA withdrawals during the bridge are fully taxable.
