Turning 60 This Year? Here's How It Could Result in Lower Social Security Benefits

Turning 60 This Year? Here's How It Could Result in Lower Social Security Benefits

Millions of seniors rely on Social Security in retirement, and many look to those benefits as their primary source of income. Your Social Security benefits are calculated by taking your average monthly wage over your 35 highest-paid years of earnings and adjusting that wage for inflation. When that average wage declines, so too can your retirement benefits.