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Here are some ways to increase your Social Security benefits: Earn more. The formula that the Social Security Administration (SSA) uses to compute your benefits takes your 35 highest-earning years ...
Image source: Getty Images. How Social Security calculates your monthly benefit. Social Security calculates your monthly benefit using your average earnings during the 35 years when you earned the ...
It's likely the most important Social Security chart you'll see. ... For example, if the primary claimer receives $2,000 monthly, the person receiving spousal benefits can receive up to $1,000 if ...
Each calendar year, the wages of each covered worker [a] up to the Social Security Wage Base (SSWB) are recorded along with the calendar by the Social Security Administration. If a worker has 35 or fewer years of earnings, then the Average Indexed Monthly Earnings is the numerical average of those 35 years of covered wages; with zeros used to ...
Image source: Getty Images. 2. Earn the Social Security maximum in at least 35 years. In order to determine which 35 years of your career were the "highest," the Social Security Administration ...
Social Security spousal benefits allow people to receive benefits based on their partner's earnings record if one of the following applies: They're at least 62 years old They're caring for their ...
The not-so-secret formula to calculating Social Security benefits. ... For example, a 62-year-old born in 1962 whose total indexed earnings over her 35 highest-earning years were $2.5 million ...
If You Worked 30 Years: Social Security will add five zero-income years to reach the 35-year mark. Those zeros lower your average, meaning you'll have a smaller benefit than if you'd had a full 35 ...