Social Security Q&A: Explaining How Retirement Benefits Are Calculated

Question: How are my retirement benefits calculated? Answer: Your Social Security benefits are based on earnings averaged over your lifetime. Your actual earnings are first adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average monthly indexed earnings during the 35 years in which you earned the most. Social Security applies a formula to...

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5 Homebuying Tips From Dad

It was a different world when Dad bought his first home. But oddly enough, a lot of his homebuying advice (unlike his socks-and-sandals choice) is back in fashion. Putting up a sizable down payment, holding back some cash reserves in the bank, and shopping smart so you can get the best deal on a home loan? You’ll make the old man proud. Here are five homebuying tips from Dad that will serve you (and him) just as well in today’s...

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