While most people 65 and older are receiving some sort of monthly Social Security benefits, the amount received can vary widely. Find out why and how some receive $50 per month while others collect nearly $5,000 from their monthly Social Security benefits.
Join Marvin Musick, Chief Educator at Medicare School as he covers common social security terminology, which formulas are used to calculate your social security benefits, and how to maximize your social security benefits when you approach retirement.
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Video Chapters
00:00 Social Security Terminology
12:43 Formulas to Calculate Social Security Benefits
19:55 Monthly Benefit Calculation Example
24:29 "Special Minimum" Benefit Formula
28:32 2024 Maximum Social Security Benefits (Break Even)
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