The typical Social Security senior receives $ 1,543 per month. And while that sum, combined with distributions from a retirement savings plan, can make for a comfortable lifestyle, not everyone has a pile of money in an IRA or 401 (k).

The good news, however, is that while the average beneficiary today collects $ 1,543 per month in Social Security, you have the potential to collect much more. In fact, if you play your cards right, you could end up with as much as $ 3,895 per month, which is the maximum benefit you can get this year.

Here are three steps to claiming the highest Social Security benefit possible – and enjoying much more financial freedom during your retirement years.

1. Increase your income as much as you can

The social security benefit to which you are entitled is neither arbitrary nor universal. Rather, it is based on your specific salary history. And so the more money you earn, the higher your profit will be.

Now, to get the maximum social security benefits, you will need to earn the maximum salary subject to social security taxes. Each year, a salary cap is put in place to determine the amount of income taxed for social security purposes. In 2020, it was $ 137,700. This year, it’s $ 142,800.

Once your income exceeds this salary cap, it is no longer taken into account for Social Security purposes – and neither is it taxed. In other words, as long as you earn $ 142,800 this year, you will be preparing for the maximum retirement benefit.

One thing you need to know is that it’s not just your salary that counts towards the salary cap. If you make $ 130,000 a year but earn $ 12,800 more with a side job, that puts you at $ 142,800 for Social Security purposes.

Of course, not everyone will manage to earn an income equal to or greater than the annual Social Security salary cap. But if you’re at dawn, doing a little side work might get you there.

2. Work at least 35 years

Your career can last well over 35 years if you start working in your early twenties and continue until your late sixties. But it is only your best paid 35 years of work that counts when calculating your social security benefit.

What this does mean, however, is that it’s important to work 35 full years, even if you have a higher income. Otherwise, for each year you miss an income, you will have a $ 0 factored into your benefit calculation, which will leave you with a lower monthly benefit in retirement.

3. Delay your deposit as long as possible

Even if your annual income meets or exceeds the Social Security salary cap, that is not enough to get the highest possible monthly benefit. To do this, you will also need to delay your deposit beyond full retirement age.

Full retirement age is when you can claim your full monthly benefit. If you were born in 1960 or later, this age is 67. Otherwise it’s 66, or 66 and a number of months.

For each year that you delay filing after full retirement age, your benefits increase by 8%, up to age 70. At this point, you can no longer accumulate deferred retirement credits. But if you don’t claim any benefits until age 70, you could walk away with $ 3,895 a month.

Claiming the maximum of $ 3,895 per month in Social Security benefits is not an easy thing to do. But even if you fail to withdraw $ 3,895 per month from Social Security, these steps could help you get a higher benefit for life. And it’s a great way to give yourself financial peace of mind for retirement.