Social Security

How Are Social Security Benefits Calculated?*

The purpose of social security is to replace a portion of the income you earned over your life once you are retired. How exactly your social security benefit amount is calculated is dependent upon several factors. Earnings The Social Security Administration looks at your highest 35 years of average monthly inflation-adjusted earnings. In other words,…


Changes to Social Security Claiming Strategies

The 2016 budget bill signed into law by President Obama on November 1st, 2015 included several changes to how social security benefits can be claimed. First, let’s review some of the Social Security basics. Prior to the new budget bill going into effect, a Social Security participant could claim a reduced benefit as early as…