The Money Knight

Ep 56: How Are Social Security Benefits Calculated

December 16, 2021

Social security is one of the main pillars of retirement planning. However, many people do not realize how their benefit gets calculated. You need to have a plan when it comes to Social Security. Especially for a couple, maximizing your benefits is important.

This can be a complicated topic, but we’ll discuss how they break up the percentages of your income and how inflation impacts these numbers on today’s show. Wade will also discuss the primary insurance amount and how you can track your benefit online. If you are looking to learn more always feel free to reach out to Wade!

 

What we discuss on this episode: 

0:29 How’s Wade doing?

1:52 – How is your benefit calculated?

5:13 – Percentage of your income

6:49 – Primary insurance amount

10:33 – Should you track your benefit online?

 

More Resources: 

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 

 

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120