Social Security update: First round of December payments worth $4,873 goes out in 3 days

The first round of December’s Social Security payments, worth up to $4,873 for the highest-income earners who retire at age 70, will go out to retirees Wednesday.

The amount of Social Security benefits retirees receive depends on their age, the number of years they paid into the system, and the amount of money they paid to Social Security. The highest-income earners who retired at age 70 can expect to receive a maximum of $4,873 each month. Those who retire at age 62, the earliest one can begin to collect benefits, can collect a maximum of $2,710 each month.