How Social Security Works (Explained)
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How Social Security Works (Explained)
In this video, we will dive into how Social Security works. Social Security is designed to supplement, not replace, your income during retirement. If you've worked for 10 years or more and paid your Social Security taxes, you're eligible for Social Security retirement benefits. The Social Security Administration calculates your monthly benefit ...
106.1K viewsJul 21, 2020
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How does Social Security calculate your benefits? Why do most people who reach full retirement age tend to receive more in benefits than they paid into the system? Why do higher earners tend to receive less? Read our fact-based Social Security primer here: https://www.hoover.org/research/myths-and-facts-about-social-security | Hoover Institution
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