How Much Will I Get In Social Security Benefits? Things You Need To Know

How much will I get in Social Security benefits? Here are the things you need to know on how to estimate your retirement benefits.

How much will I get in Social Security Benefits? Check out! [Photo: LaPorte]

How Do They Estimate Your Social Security Income?

Understanding their Social Security benefits is an important part of retirement planning in the United States. Many Americans are curious about how much they will receive from their Social Security. Social Security you will receive depending on your lifetime income history, the age you will claim the benefits, and some cases marital status, according to the source.

How much will I get in Social Security benefits? First, it will depend on the income history. Those who worked for more than 35 years will receive a higher payment. But, those who don’t work for 35 years will have zeros averaged and receive smaller payments. To calculate the benefits Social Security Administration looks at the 35-highest earnings years.

How much will I get in Social Security benefits? Second, it will depend on claiming age. The benefits you will receive depend on when you will start to collect your retirement benefits. You can start to collect at the age of 62  but take note the more you wait until the age of 70 you will receive a larger monthly payment. Lastly, it will also depend on your marital status. If you are married it will be based on what type of benefit you will receive.

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