How is your Social Security benefit actually calculated? In this episode, Roger explains how you qualify for retirement benefits, how your earnings history determines your benefit, and why the age you claim matters. Understanding these basics will help you recognize the areas where you have agency as you build your Social Security claiming strategy.


Roger also answers listener questions about survivor benefits, estimating taxes in retirement, and coordinating spousal benefits.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

  • [00:00] Understanding the context behind your Social Security benefit

PRACTICAL PLANNING: SOCIAL SECURITY PLAYBOOK

  • [01:33] How you qualify for Social Security and how benefits are calculated
  • [11:08] Reviewing your Social Security statement and understanding cost-of-living adjustments
  • [15:30] Understanding your Social Security claiming age options 

LISTENER QUESTIONS

  • [22:11] What Social Security resources are available for widows and widowers? 
  • [24:18] How to categorize income and expenses for tax planning
  • [30:43] Can my husband switch from his own benefit to a spousal benefit?

SMART SPRINT

  • [33:39] Review your Social Security statement

CLOSING THOUGHTS

  • [34:40] Reconsidering the words “should,” “must,” and “need to”

REFERENCES

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