It’s always nice to have a safety net when you live on a steady income.
For about 90% of American retirees, that help comes in the form of Social Security benefits.
But calculating exactly how much you’ll get when you start collecting can be tricky.
Your benefits are determined by “inflection points” in an equation. It’s like a tax bracket, but designed to give you money instead. The less money you have made, the higher a percentage of your salary you will get back. This is intended to help low-paid retirees.
How Much Can You Expect From Social Security If You Make $35,000 A Year? Watch this video for an overview of how much you get and how your monthly benefit is calculated.
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Disclosure: NBCUniversal and Comcast Ventures are investors in acorns.