Millions of seniors rely on Social Security for some or even all of their income in retirement, so it's wise to ensure you're making the most of your benefits. To maximize your monthly checks, though, you'll first need to know which factors determine your benefit amount. Social Security can be complex and confusing at times, so if you're unsure how your payments are calculated, you're not alone.

In fact, only 8% of U.S. adults can name all four factors that determine how much they'll receive in benefits, according to a 2023 survey from the Nationwide Retirement Institute. Here's everything you need to know about all four of these factors.

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Source Fool.com