Social Security is an essential part of retiring in the United States. Nearly nine of ten people aged 65 and older receive benefits, which are based on your income, the year you were born and the age you decided to start taking money out. How it’s calculated, however, is anything but simple. CNBC Television explains how the math is broken down and how much you can expect to earn in Social Security benefits on a $50,000 salary (Note: Not affiliated with Social Security In 30 Minutes or publisher i30 Media Corporation).
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