Retirement benefits like Social Security make a world of difference for people in retirement.
So how much should you expect to receive from these benefits? And in addition, where does the money from these benefits come from?
In this episode, Zacc Call and Laura Hadley dive deeper into the ins and outs of Social Security by explaining how you can estimate how much you will receive, how to maximize your benefit if you are self-employed, how the government accumulates the money in the Social Security trust fund, and more.
Zacc and Laura discuss:
- What FICA tax is and how you benefit from it in the future
- “Primary insurance amounts” and how yours is calculated
- How to maximize your government retirement benefits if you’re self-employed
- What compensation you can expect from the government when retired