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Computation Years: Social Security Benefits Calculation

Devin Carroll, CFP® 24 views

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Dude you’re all over the place You should have made three separate videos, one each for each type of benefit Also your intro of almost 60 seconds doesn’t respect viewers time Also graphics would help with comprehension
Comment from : @andre1987eph

why is the earning put into a bulk year? example year 2000-2010 earning is say, 1 dollar does that mean I earned 1 dollar for that 10 year? (fictional number), This contrast earning listed for individual year I'm trying to figure out the base years since I need to pay 30 years worth into social security to get full benefits
Comment from : @tisurmaster

When do they recompute the lag yearI retire on March 1 2023 so my 2022 year was not calculated in my monthly benefit amount
Comment from : @imarichmultimillionaire5509

So I only worked 27 years so I’m going to get screwed I am 20 disabled through the VA not sure that matters
Comment from : @gilllawson2214

and yes it is the thirty five highest years
Comment from : @88888gerald

do you not know people can read? its thirty five years
Comment from : @88888gerald

I'm fixin' to retire in a few months When I checked my social security income, it doesn't include last year's earnings which is a higher number than I've ever earned, so I know it would be counted in the 35 if they had the number From what I've read, they may not have that figure in their system for a year or two When they get the number, and it would have made my benefit higher, do they adjust my benefit to include last year's income?
Comment from : @bombdawg5916

HibrMy father is a USA citizen who currently living in Sri LankabrHe is 74 years old and suddenly government stopped the retirement benefits saying that he is not qualified for that because he got 38 creditsbr1How much he need to earn to get another 2 points for 2021/22 tax period?br2Currently he is paralysed and he can’t work can he get the disability benefit if he is having 38 credits?brbrCould you please help us to sort this issue and if you can give me your number I will call you privately
Comment from : @erangawijesinghe2571

I got my email/letter from Social Security today telling me my New IRMAA for Medicare
Comment from : @Laborkei

What if I only worked 13 year in the USA and I was born 1957 ? I was in in Europe 38 years ?
Comment from : @kennethmclaughlin9538

It would be fairer for Social Security to count the highest 30 years, instead of 35 Many people change jobs multiple times during their life Sometimes, you choose a lower paying job because you were not happy with your previous job Being happy with your job is just as important as making a high salary!
Comment from : @billquattlebaum1577

I think everyone over 70 should get a Federal welfare check, even if you did not pay SS taxes
Comment from : @billpasaki4769

Amen keep it up
Comment from : @williamjenkins3854

Are amounts adjusted for inflation when calculating dropout years?
Comment from : @topbitr9603

The thing that discusses me is that so many people who haven't worked nearly that many years goes on disability (I'm not talking about the truly disabled) and they get more than those who faithfully worked there whole lives Why is that allowed?
Comment from : @db5202

Just go to ssgov to see what you will earn if you were 62 it calculates everything this is does know alot but I got a headache and if was confusing
Comment from : @Gabriellabonanno

Its all a bunch of bull shit Government ripping off the people
Comment from : @masterdanprice2904

So any income after age 62 is not counted towards my ss benefit I'm planning on working until age 70 full time
Comment from : @tymigliore6390

So Devin, I’ve been working since age 16 But my last employment before retirement covered all of 41 years So from your explanation , my earnings were higher later on, than when I started, so the last 35 years were used for the calculation I would assume
Comment from : @mariaesantiago620

Devin, if you plan to explain calculations for Retirement, don’t include disability or survivor calculations because that is what’s causing CONFUSION among your listeners Keep the videos short but make them separate and detailed, maybe tag them as part 1,2 and 3 so people can listen to just the one that pertains to them Also try to speak slower with annunciation
Comment from : @mariaesantiago620

OMG, I am not looking to retirement lol I tried so hard to fig out what u r saying and i just gave up Not your fault but this is way too complicated for this college educated viewer lol
Comment from : @nighthawk_predator1877

What if you are on disability for 15 years but are drawing a retirement check on top of your SSDI Would that effect your SSA? When you turn 65??? and count to your 35 years??
Comment from : @DavidSmith-vo3nd

Devin, I just signed up for SS at my full retirement age, I am still working I always thought my spouse would get 1/2 of mine or hers which ever was highest The Social Security office is giving her and increase but not equal to 1/2, in fact $175 per month less that 1/2 Any idea why
Comment from : @mikebowling3228

What if the five highwst earnings years are from 62 to 67?
Comment from : @jerrymoore8364

Devin I just found out today that my HSA, Medical Ins, and my Vision Ins at work is not subject to Social Security taxes Thus lowering my SS wages almost $4400 That should lower my SS earnings quiet a bit I’m just turning 60 and these are my best earning years I know it’s a tax savings but do you fair better without it? Not too happy about not knowing this over the last eight years
Comment from : @mattlourer9692

Devin I just found out today that my HSA, Medical Ins, and my Vision Ins at work is not subject to Social Security taxes Thus lowering my SS wages almost $4400 That should lower my SS earnings quiet a bit I’m just turning 60 and these are my best earning years I know it’s a tax savings but do you fair better without it? Not to happy about not knowing this over the last eight years
Comment from : @mattlourer9692

Not reprise Sorry No payroll tax for a temporary period of time
Comment from : @kenholmes7027

BORN IN 1957 START 1974 HAVE 35 YEARS IN AS OF 2008 STOP AT 2008 SO IAM OK??
Comment from : @shipcaptainsview

How would a temporary reprise in the payroll tax affect current and future SS retirement benefits? It is currently being discussed by President Trump
Comment from : @kenholmes7027

Thanks Devin Your posts are always helpful
Comment from : @brentsmock1044

Only a gov bureaucrat could come up with such a convoluted formula Typical That way they are the keeper of secret knowledge, like priests of old
Comment from : @edinnorthcarolina--ovelhog5786