Too Young to Claim Social Security? Here's Why You Should Pay Attention Anyway

Too Young to Claim Social Security? Here's Why You Should Pay Attention Anyway

The Social Security benefit calculation is a three-step process. First, the government calculates your average indexed monthly earnings, or AIME, which is your average monthly earnings over your 35 highest-earning years, with adjustments for inflation. Next, it plugs your AIME into the benefit formula designed for your birth year.