How to Calculate One's Social Security Monthly Benefit Amount

Matthew Frankel, CFP, from The Motley Fool has written a step-by-step method to determine one's expected Social Security benefit.

Step 1: Determine whether you qualify for a retirement benefit

Step 2: Adjust all of your annual earnings for inflation

Step 3: Find the 35 highest inflation-adjusted years

Step 4: Calculate your average indexed monthly earnings (AIME)

Step 5: Determine your primary insurance amount (PIA)

Step 6: Adjust for your claiming age

Open the link to get all of the details, including formulas.


We welcome your comments and suggestions