How Social Security Retirement Benefits Are Calculated In 2018
The Social Security retirement benefit calculation formula is based on a few variables. It takes your 35 highest-earning years into account, as well as your full retirement age and the age at which you choose to start collecting your retirement benefit. Here's how this calculation method works for 2018, and how early or late retirement could affect your benefits.
First of all, if you're already collecting Social Security benefits, your 2018 benefit will not be recalculated using the method I'm about to describe. Your current monthly benefit will simply be adjusted according to the 2018 cost-of-living adjustment, or COLA.
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Source: Fool.com
