The second round of May’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will go out to retirees in five days.

Very few people will qualify for the maximum Social Security benefit. According to the Social Security Administration, only around 6% of people earn over the wage base limit in a given year. That leaves a ton of people who will never qualify for the maximum benefit.

The full retirement age for Social Security – the age in which you get 100% of the program's benefits – has risen over recent years.