Social Security Max 2024 Contribution Over 60. Over the past five years or so, the social security tax limit has increased by an average of about $3,960 a year. You may want to supplement your retirement savings with an individual retirement account (ira), 401(k) or other savings.
The most a person who retires at age 70 in 2024 will receive from the government is $4,873. That’s enough to replace the average income in the u.s.