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2 Must Knows On Social Security
It’s a complex program but near universal, as most Americans will collect a monthly check from Social Security in old age. But if there are at least two things one should understand, Maurie Backman says they are at the least how benefits are calculated and what percent of income will be replaced. In short, one’s 35 year working history is used to calculate benefits, and 40 percent replacement is roughly correct. Full details in the article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.