If you're gearing up to claim Social Security, you may be excited to finally get some money out of the program you've been paying into all of your life. But it's important to have a good understanding of how Social Security works before signing up to get benefits. With that in mind, here are three basic rules you should commit to memory before putting in your claim.

Your monthly Social Security benefit is calculated by taking your 35 highest-paid years of earnings and adjusting them for inflation. Your filing age will also play a role in determining how much monthly income Social Security gives you.

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Source Fool.com