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How Social Security benefits are calculated on a $45,000 salary
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Social Security is an important part of retiring in America.
Social Security benefits represent about 33% of the income of the elderly. And nearly 9 in 10 individuals age 65 and older receive money from the government program.
Benefits are based on your income, the year you were born and your age when you decide to start taking money out.
So how much should you expect in Social Security benefits if you make $45,000 a year? Watch this video for a breakdown of how much you will get and how your monthly benefit amount will be calculated.
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
#CNBC
#CNBC TV
Social Security benefits represent about 33% of the income of the elderly. And nearly 9 in 10 individuals age 65 and older receive money from the government program.
Benefits are based on your income, the year you were born and your age when you decide to start taking money out.
So how much should you expect in Social Security benefits if you make $45,000 a year? Watch this video for a breakdown of how much you will get and how your monthly benefit amount will be calculated.
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
#CNBC
#CNBC TV
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