Here’s how the Social Security retirement benefit formula works

Do you know how much retirement income to expect from Social Security?

Social Security is the largest retirement program in the United States, but far too many people don't understand how their retirement benefit is determined. Knowing how Social Security benefits are calculated can help you make smart decisions when it comes to claiming your own benefit, and can help you estimate your eventual retirement income for planning purposes.

With that in mind, here's a quick guide to how the Social Security Administration, or SSA, determines the size of your monthly retirement benefit checks.

Matthew Frankel | The Motley Fool

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