It's possible that the Social Security Trust Fund will last one more year than expected

It was announced in 2021 that the Social Security Trust Fund would run out of money by 2033. 

Social Security is primarily funded by payroll taxes on current workers, 

So this isn't quite as alarming as it sounds. Therefore, Social Security as

A whole is not in danger of running out of money. According to SSA projections, 

if the Trust Fund becomes insolvent, benefits will have to be reduced to 78% of current levels.

Fortunately, the Social Security Administration announced in the summer of 2022 that 

The Trust Fund will last until at least 2034, extending fully funded Social Security benefits for another year. 

Although this doesn't solve the problem, it's a step in the right direction.

Maximizing benefits hasn't changed

During your working career, your Social Security benefit is calculated based on your earnings 

And when you claim benefits. In 2022, the Social Security Administration will only count wages

Exceptions to the Calendar Rule

Up to the annual cap of $147,000, and only your 35 highest years of earnings will be counted.

If you want to earn the maximum Social Security benefit by the time you retire, 

you must reach or exceed the annual wage base for 35 years. By reviewing your 

Earnings record in August, you can determine whether you're on track to reach that goal. 

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