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    Summary of Mike Piper's Social Security Made Simple
    Summary of Mike Piper's Social Security Made Simple
    Summary of Mike Piper's Social Security Made Simple
    Ebook20 pages11 minutes

    Summary of Mike Piper's Social Security Made Simple

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    Please note: This is a companion version & not the original book. Book Preview:

    #1 Social Security credits are earned by working at a job where you pay Social Security taxes, or by earning money from self-employment. The amount of earnings needed to earn a credit is adjusted each year in keeping with wage inflation. A maximum of four credits can be earned in a year.

    #2 You can earn up to four credits a year. Your full retirement age depends on the year you were born, and your primary insurance amount is the amount of retirement benefits you would receive per month if you started taking them at your full retirement age.

    #3 Your primary insurance amount is the amount of retirement benefits you would receive per month if you started taking them at your full retirement age.

    #4 If you’re a total newbie to the world of investing, and you plan on retiring at age 62 in the year 2012, then you can expect your primary insurance amount to be: 90 percent of any AIME up to $767, plus 32 percent of any AIME between $767 and $4,624, plus 15 percent of any AIME above $4,624. 8.

    LanguageEnglish
    PublisherIRB Media
    Release dateSep 15, 2022
    ISBN9798350029062
    Summary of Mike Piper's Social Security Made Simple
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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      Book preview

      Summary of Mike Piper's Social Security Made Simple - IRB Media

      Insights on Mike Piper's Social Security Made Simple

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 1

      #1

      Credits are earned by working at a job where you pay Social Security taxes or by earning money from self-employment. The amount of earnings needed to earn a credit is adjusted each year in keeping with wage inflation.

      #2

      The size of your monthly retirement benefit depends on your earnings history and how old you are when you first begin taking benefits. Your full retirement age depends on the year in which you were born.

      #3

      Your primary insurance amount is based on your historical earnings. It is calculated as your average indexed monthly earnings, which is a four-step process. First, adjust your earnings from previous years to today’s dollars. Then select your 35 highest-earning years. Add up the

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