Q & A
How are Social Security benefits calculated, and how do I find out how much I will get when I retire?
Answer: Your Social Security benefits are based on the number of years you’ve worked in jobs covered by Social Security, the amount you earned each year and your age when you start taking benefits. The size of your benefit is based on your 35 highest-paid years when you start to receive benefits. That means if you’ve already worked for 35 years or more, taking a part-time job for the last few years before you sign up for Social Security won’t reduce your benefits. Read more…
Source: Kimberly Lankford, www.kiplinger.com