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What calculations go into determining your Social Security benefits?

Everyone gets a different monthly amount for Social Security, leading many to wonder, “Why do I get what I get?” Kailey Hagen explains in detail the Social Security benefits formula that is used to calculate your primary insurance amount. The formula is based on your average monthly earnings over your 35 highest-earning years, adjusted for inflation. Full retirement age is now 67, but people can collect a maximum benefit by waiting to start benefits until age 70. Full piece here.

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