Josh Scandlen Podcast

I can't begin to tell you how many times I receive an email where someone is concerned about their Social Security benefit being wrong. They look at their statement and see that they'll receive say $2,000 at FRA but when they calculate the numbers themselves they don't come up with anything close to that. Then they'll see Youtube videos and other blog posts saying "Your Social Security statement is WRONG!!!" And without understanding they'll simply believe what they see, hear or read. This is not good because it leads people to stay in their crappy, old job for many more years than they should, solely due to ignorance. So, let's look at how Social Security benefits are actually calculated. I've talked a million times to Sunday on the AIME (Averaged Indexed Monthly Earnings) numbers. You take your top 35 years of earnings, INFLATE THEM as per Social Security's guidelines) add them up, and divide by 420. That is your AIME. But your AIME is NOT your benefit amount. Your benefit amount is your PIA, which