How Social Security benefits are calculated on a $50,000 salary

12:20 PM ET Fri, 13 Sept 2019

Social Security is an essential part of retiring in the U.S. Nearly nine of ten people aged 65 and older receive benefits, which are based on your income, the year you were born and the age you decided to start taking money out. How it's calculated, however, is anything but simple. Here's how the math is broken down and how much you can expect to earn in Social Security benefits on a $50,000 salary.