How Are Social Security Benefits Calculated?

Social security is an important part of retirement planning and yet, few people don’t understand how the benefits are calculated or what factors determine the amount received monthly or over its lifetime. Even when using a Social Security benefits calculator, not understanding the different aspects that go into determining the number can give you the wrong result and likely unnecessary worry. 

To better understand how social security benefits are calculated, read below and learn the different areas that contribute to your retirement benefits. 

AIME and PIA: Essential Retirement Benefits Factors

Understanding the calculation of your Social security benefits means diving deep into two primary concepts: Average Indexed Monthly Earnings (AIME) and the Primary insurance Amount (PIA):

Average Indexed Monthly Earnings (AIME)

AIME plays a key role in calculating Social Security benefits, but what exactly is it?

 AIME represents an average of your monthly earnings over your highest-earning 35 years, adjusted for inflation. The Social Security Administration doesn’t only look at your raw earnings; instead, it indexes them. This means that earnings from earlier years in your career are adjusted to account for inflation and wage growth over time, providing a more accurate reflection of your earnings in today’s dollars.

To arrive at the AIME, the SSA takes your annual earnings for each year (up to a particular maximum that might change annually), indexes those for inflation, and then identifies the 35 years in which you earned the most. By adding those highest-earning years together and then dividing by the total number of months in those 35 years (420 months), the AIME is figured out.

Primary Insurance Amount (PIA)

Once the AIME is calculated, it’s time to determine the PIA. The PIA is essentially the baseline amount you would receive at full retirement age.

To calculate the amount, the SSA uses a progressive formula that breaks the AIME into portions and then multiplies each segment by a specified percentage. For instance, the first segment of your AIME could be multiplied by 90%, the next by 32%, and any remaining amount by 15%. The sum of these results is your PIA.

What’s crucial to understand is that PIA is central to the benefits you’ll receive. While factors like choosing to take benefits before or after your full retirement age can influence the final amount, the PIA sets the groundwork.

Solving the SSA’s Approach: From Earnings to Benefits

At the heart of social security payments is a comprehensive process that is based on your earnings history and age. This formula recalculates your benefit annually, ensuring accuracy and fairness by tallying up the earned income you made in your top earning years and applying specific adjustments. The benefits also depend on other factors besides AIME and PIA: 

Factors That Can Influence Your Social Security Benefits

The other factors that can influence the amount of social security benefits an individual might receive include. Understanding the other factors that influence the amount of social security benefits received is essential to making informed decisions about when and how to claim benefits:

1. Claiming Age: As mentioned earlier, the age at which you start claiming benefits can impact the monthly amount. Claiming before your full retirement age will result in a reduced monthly benefit, while delaying can lead to increased monthly payouts, up to age 70.
2. Work While Claiming: If you claim benefits before reaching full retirement age and continue to work, there’s a limit to how much you can earn before the amount is temporarily reduced.
3. Lifetime Earnings: The more you’ve earned, and therefore paid into the Social Security system, the higher your benefit will be, up to a point. Social Security is designed to replace a percentage of your pre-retirement income rather than it being your only source.
4. Cost-of-Living Adjustments (COLAs): The SSA may adjust benefits to account for inflation to ensure that the purchasing power of your benefits doesn’t decline over time due to inflation.
5. Taxes: Depending on your overall income, a portion of your Social Security benefits might be taxable.
6. Government Pensions: If you receive a pension from a job where you didn’t pay Social Security taxes (such as some government positions), it could affect the amount of your Social Security benefits.
7. Family Benefits: If you have children or a spouse who are eligible for benefits based on your work record, it could mean a higher total family benefit, though individual benefits might be reduced.

Understanding Retirement is Crucial 

Navigating social security benefits can be daunting, but with the right knowledge, understanding, and professional guidance it becomes much easier. Here at Marken Law Group, we are extensively experienced with social security, having represented hundreds of claimants in Washington, Idaho, Montana, Oregon, and California to obtain what is rightfully theirs. We focus on your individual needs rather than treat all clients as the same, bringing our comprehensive experience to help guide you through. 

Whether you’re years away from claiming Social Security or on the brink of retirement, understanding these terms and how they factor into your benefits can make a significant difference in your financial planning.

Marken Law Group

Navigating Assisted Living Facilities in Albuquerque, NM: A Guide for Adult Children

Finding the perfect care for aging parents is a journey paved with both love and challenges. For adult children in the heart of New Mexico, the quest often leads to a choice between assisted living facilities in Albuquerque and Albuquerque home healthcare. This guide aims to shed light on these options, helping you make an informed decision that honors your parent’s needs and preferences.

Understanding Assisted Living in Albuquerque

Assisted living facilities in Albuquerque offer a blend of independence and support, making them an ideal choice for seniors who can live somewhat independently but require assistance with daily activities. These facilities provide a range of services from meal preparation, medication management, to Social activities, all within a safe and nurturing environment. Albuquerque’s facilities stand out for their commitment to creating a community where elders can thrive, offering peace of mind to both the residents and their families.

Benefits of Albuquerque Home Healthcare

For those who prefer the comfort of their home, Albuquerque home healthcare is a compelling alternative. It offers personalized care tailored to the specific needs of each senior, from basic assistance to skilled nursing. The flexibility of home healthcare allows for a more intimate care experience, with caregivers often becoming an extended part of the family. This option is particularly appealing for seniors who wish to maintain a sense of normalcy and independence in their familiar surroundings.

Choosing the Right Option for Your Parent

Deciding between assisted living and home healthcare involves several considerations. Begin by assessing the level of care your parent requires. Assisted living may be more suitable for those who seek social interaction and can manage with periodic assistance. In contrast, home healthcare is ideal for seniors needing more intensive, one-on-one support.

Budget is another critical factor. While assisted living facilities offer predictability in costs with a fixed monthly fee, home healthcare expenses can vary based on the frequency and type of services required.

Lastly, involve your parent in the decision-making process. Visit facilities together, meet with potential caregivers, and discuss preferences openly. Remember, the goal is to find a solution that best supports your parent’s health, happiness, and dignity.

Resources and Next Steps

Embarking on this journey requires patience and thorough research. Utilize local directories and online resources to explore the assisted living facilities and home healthcare options in Albuquerque. Reading Reviews and speaking with other families can provide invaluable insights.

Taking the next step means reaching out—schedule visits to facilities or consultations with home healthcare providers to get a firsthand look at what they offer. And remember, the best choice is one that feels right for your parent and your family.

Albuquerque’s Assisted Living Allure: Comfort and Care in the Heart of New Mexico

Albuquerque, a city where the sun kisses the horizon with a warmth matched only by the care found in its assisted living facilities. The landscape of assisted living facilities in Albuquerque is as varied as the stunning New Mexico sky, offering choices that cater to different needs and budgets.

Average Cost of assisted Living in Albuquerque Understanding the financial aspect is crucial. On average, assisted living in Albuquerque can range from $3,000 to $6,000 per month. This cost fluctuates based on the level of care required and the amenities offered.

Luxury Assisted Living Albuquerque For those seeking opulence, Albuquerque’s luxury assisted living facilities are like a soothing balm. They offer gourmet dining, spacious accommodations, and an array of recreational activities, all wrapped in a blanket of top-notch care.

Low Income Assisted Living Albuquerque But Albuquerque also understands the need for affordable care. Low-income facilities offer quality services without breaking the bank, ensuring that dignity and comfort are not a privilege, but a right accessible to all.

The city’s facilities don’t just provide a place to live; they offer a community. With activities ranging from art classes to local excursions, residents find joy and companionship in their golden years.

FAQs

1. What services do Albuquerque’s assisted living facilities provide? They offer a range of services including meals, housekeeping, medical assistance, and Social activities.
2. Can I visit my loved ones anytime? Yes, most facilities welcome family visits, respecting residents’ privacy and comfort.
3. Are there specialized memory care options? Absolutely, several facilities provide specialized care for residents with memory-related conditions.

Assisted Living Facilities In Albuquerque are not just buildings; they are communities where laughter echoes in the halls and care weaves through every interaction. Whether seeking luxury or affordability, one finds a blend of compassion and quality in the heart of New Mexico.

Can You Collect Social Security and Disability?

With retirement approaching, it’s a good idea to familiarize yourself with what can cost you your social security benefits or what you can collect on top of them. Also, if you’re receiving social security disability, will your retirement affect those payments? These are important topics to cover, just as knowing what SSI and SSDI are, when to file for each, or switching from one to the other. 

Collecting Social Security and Disability

Many people confuse their social security retirement with supplemental security income, but they are entirely different programs and that matters a great deal if you’re hoping to collect social security disability. The issue here is eligibility and what those payments look like, while it’s tempting to think that applying for various forms of social security will make for higher payments, it isn’t how it works. Essentially, the social security office will only pay you whatever is higher if you’ve filed for both. In most cases, the SSI disability is higher until you reach the age for full retirement which will then automatically convert to your retirement benefits. 

There is a rare exception to the automatic conversion rule and that is when someone opts for early retirement but is then approved for SSDI benefits. This way you can receive early retirement payments until the disability insurance is approved and the additional money comes in on top of the early-retirement benefits, likely along with the retroactive benefits. 

Can You Switch from SSI to SSDI?

Yes, you’re able to switch from SSI to SSDI. If you file for early retirement and then suffer from a disability, you can apply for SSDI benefits. If approved, they will switch your early retirement benefits to SSI disability benefits. This is also true in reverse. This is one of the instances where you would want to speak with an SSI or SSDI lawyer before making any filings or claims, to ensure you’re not robbing yourself of a higher payment or missing an opportunity to benefit from what is rightfully yours. It isn’t uncommon for people to file for SSDI, only to find their social security retirement was much higher, and are now unable to collect. 

Filing for Disability and Social Security at the Same Time

This is another common “trick” people employ to try and receive both social security disability and social security retirement insurance, but it can have costly ramifications. People who retire early and apply for disability at the same time run the risk of their SSDI being denied, then being forced to collect lower benefits for the rest of their life. While this is an option for people who are quite impaired and it’s all but guaranteed they’ll get their SSDI benefits, you have to ask yourself if it’s worth the risk. 

This is another area where it pays to have a lawyer well versed in social security disability benefits and the social security administration. 

A Guide to Social Security Disability and Social Security Benefits

If you’re considering filing for both social security benefits and SSDI, it’s important you have the right guide to ensure you get what is rightfully yours. Being denied social security disability and getting lower SSI benefits is a scary and stressful time, especially if counting on that extra income makes you think you cannot afford an attorney. 

Getting what you need to live and have what you deserve is too important to leave to chance. Partner with an experienced ally that is by your side from start to finish to better secure your benefits. 

Secure What's Yours

Inlays and Onlays: What are They And When are They Needed?

You may have heard the terms “inlays” and “onlays” from your Dentist and wondered what they mean. Simply stated, they are a dental care treatment to repair cavities, tooth decay, wear from bite force, tooth trauma, and small fractures. 

Inlays and onlays are similar to filings and crowns, but differ in the following ways: 

• Fillings are used for small cavities and are best for the sides of teeth.
• Inlays are used in place of fillings when only a small amount of tooth structure has been lost to decay. Inlays are used when a cavity requires stronger materials to fortify the tooth.
• Onlays are for substantial cavities that don’t cover the entire tooth surface.
• Crowns are used when there is deeper decay or larger tooth fractures, and tooth reshaping is needed. 

What is an inlay?

An inlay replaces decayed tooth enamel. Once your cavity is removed, your dentist places your inlay on the chewing surface of your tooth. Your inlay is custom designed to fit the area between tooth cusps. Inlays are created using an imprint of the affected areas and are manufactured in a dental lab. This means they provide greater strength because they fit your teeth perfectly. Inlays are also better at preserving as much of your natural tooth as possible.

Inlays are made from tooth colored ceramic, porcelain or a composite material that is stronger than traditional fillings. Porcelain in particular can be perfectly matched to the color of your teeth. Porcelain naturally bonds to teeth. This bonding process improves the strength of your tooth.

Inlays vs. fillings 

There are many benefits of inlays compared to fillings:

• Inlays preserve as much of your natural tooth as possible. 
• With natural tooth structure in place, it’s easier to clean your teeth.
• Inlays work better than fillings for larger cavities in the center of the tooth.
• Porcelain inlays are more stable than amalgam or composite fillings which can expand and contract, causing cracks. This makes fillings ideal for the sides of teeth, while inlays are more durable for chewing surfaces.
• Porcelain inlays are a biocompatible material. They strengthen teeth and can handle 75% more chewing force.
• Inlays are custom-made by using an impression to fit perfectly to your teeth. 

Inlays have a few disadvantages in comparison to fillings. When choosing between the two, you and your dentist should take the following into account:

• Fillings can be placed in one visit. Lab-manufactured inlays usually require two visits.
• Fillings are less expensive. 
• In the event of damage, repairing an inlays is more difficult.

What is an onlay?

Onlays are recommended when a cavity is too big to fill, but too small for a crown. Onlays are also called partial crowns. This is because they cover a portion of the tooth. Onlays are placed to preserve natural tooth structure. 

Onlays are custom manufactured in a lab. Our onlays are made of porcelain from an exact imprint of your teeth. The porcelain naturally bonds with your tooth to add strength. The porcelain used in both inlays and onlays is perfectly color-matched to your surrounding teeth. 

Onlays vs. crowns

Onlays and crowns differ in size and location. Crowns are an excellent restorative solution when significant wear or decay has occurred. They either extend down the sides of your tooth or cover the tooth. Onlays are smalle. They fit over the biting surface of your tooth and extend to cover the cusps. 

Dental professionals often recommend an onlay to: 

• Preserve as much of your natural tooth as possible.
• provide additional strength to your tooth. 

If you’re not sure whether you need inlays, onlays, crowns or fillings, we encourage you to reach out to a dental professional for a consultation! Alternatively, click the link below if you’d like to learn more about the services and procedures involving inlays and onlays! 

Discover Inlays

How Much Do Dental Crowns Cost?

Crowns are a common Dental treatment, but the cost of crowns can vary Once it is determined you need a crown, Dr. Frahm explains your  options. Ultimately, the cost of your crown depends on the materials it’s made of.  

What are dental crowns made of?

Permanent dental crowns are made from either porcelain, ceramic, base metals, composite resin, and even zirconia. Let’s break down each type and what you can expect for the cost:

Porcelain: is a non-toxic dental material that works with the body’s natural systems. Porcelain naturally adheres to your DNA, making it five times stronger than your natural teeth. Porcelain can also be perfectly matched to the exact color of your teeth. As for cost, according to Authority Dental, porcelain crowns can cost anywhere from $1,000 to $2,500.

Ceramic is a beautiful option for crowns. Their color and sheen match your tooth’s natural aesthetic. Ceramic crowns are long-lasting, making them a great option. Ceramic crowns typically cost about the same as porcelain at $1000-$2,500 per crown.  

Metals like gold, platinum or nickel are commonly used for crowns on back molars. These metals are incredibly strong and long-lasting. The downside of metal crowns are they do not match your tooth color and can cause allergic reactions in some people. Depending on the type of metal, each of these crowns can cost between $800-$2,500. 

Zirconia is the newest material being used for dental crowns. It’s a type of ceramic that offers superior strength and durability to withstand many years of wear. However, it can be difficult to match zirconia exactly to your tooth color. The cost of zirconia crowns can cost upwards of $1,000-$2,000 each. 

Composite resin crowns are a popular option since they cost less than other materials. However, resin crowns are more likely to crack and wear down. This means they will need to be replaced more frequently. Resin composite crowns average about $300. 

Please note: Depending on your location, the expertise of your dentist and lab fees, the cost for crowns and other dental treatments may differ. 

Paying for dental crowns

The prices listed above are out-of-pocket costs. Dental benefits typically cover a portion of crown costs.  One caveat to keep in mind: some insurance policies have waiting periods of one to two years before they’ll cover a crown. So, it’s always a good idea to review your dental benefits policy before treatment. 

Talk to Dr. Frahm about custom porcelain and ceramic CEREC crowns that can be fitted and placed in just one visit. If you are ready to see how quickly and beautifully custom crowns can transform your smile, click the link below!

Dr. Sarah Frahm

Finding the Best Testosterone Booster for You

If you’re looking to boost your testosterone levels, it’s essential to find the right testosterone booster that suits your needs https://www.timesofisrael.com. Testosterone-boosting supplements have gained popularity in recent years due to their potential benefits for men’s health and vitality.

Understanding the Role of Testosterone-Boosting Supplements

Testosterone is a hormone that plays a crucial role in various bodily functions, including muscle growth, bone density, energy levels, and sexual health. However, as men age, their testosterone levels naturally decline. This decline can lead to decreased energy, reduced muscle mass, and even issues with libido. Testosterone-boosting supplements aim to address these concerns by promoting healthy testosterone production.

The Benefits of Maintaining Higher Testosterone Levels

Maintaining optimal testosterone levels can offer numerous benefits for men’s overall well-being. Higher testosterone levels have been associated with increased muscle mass, improved athletic performance, enhanced cognitive function, and boosted libido. By choosing the right testosterone booster, you can potentially experience these advantages and regain vitality in your daily life.

Evaluating the Latest Research on Testosterone Boosters for Men

Before selecting a testosterone booster supplement, it is crucial to review the latest research and scientific evidence supporting its effectiveness and safety. Look for studies conducted on specific ingredients or formulations used in these supplements. Scientific evidence provides valuable insights into the potential benefits and risks associated with different products.

Reviewing the Top Testosterone Booster Supplements in 2023

To assist you in finding an effective solution tailored to your needs, we have reviewed some of the top testosterone booster supplements available in 2023. These reviews cover important aspects such as ingredient quality, dosage recommendations, customer feedback, and overall efficacy.

TestoPrime: A Powerful Supplement for Healthy Testosterone Production

One standout product is TestoPrime, a leading testosterone booster supplement that has gained popularity for its potent formula. TestoPrime is designed to support healthy testosterone production, increase energy levels, enhance muscle growth, and improve overall well-being. Its unique blend of natural ingredients makes it a promising choice for those seeking to optimize their testosterone levels.

Enhanced Performance and Increased Muscle Mass with TestoPrime

TestoPrime’s carefully selected ingredients work synergistically to promote enhanced athletic performance and increased muscle mass. By incorporating this supplement into your fitness routine, you may experience improved strength, endurance, and faster recovery times. These benefits can help you achieve your fitness goals more efficiently.

Unleashing Vitality: How Natural Testosterone Boosters Can Help

Natural testosterone boosters like TestoPrime offer a safe alternative to synthetic hormone replacement therapy. By utilizing natural ingredients known for their ability to stimulate testosterone production in the body, these supplements provide a holistic approach to boosting vitality without the potential risks associated with artificial hormones.

Exploring Formulated Success: Ingredients Stimulating Testosterone Production

Testosterone boosters often contain a combination of scientifically-backed ingredients that have been shown to support healthy testosterone levels. These ingredients may include D-aspartic acid, vitamin D3, zinc, fenugreek extract, ashwagandha extract, and more. Understanding the role of each ingredient can help you make an informed decision when selecting a testosterone booster.

Scientific Evidence Supporting the Use of Testosterone Boosters

Numerous studies have demonstrated the effectiveness of certain ingredients found in testosterone boosters in promoting healthy testosterone levels. For example, research has shown that D-aspartic acid can significantly increase testosterone production in men. Similarly, zinc supplementation has been linked to higher levels of free testosterone in the body. These scientific findings provide strong evidence supporting the use of testosterone boosters as a viable option for optimizing hormone levels.

Reclaim Your Vitality: Unlock Energy and Concentration with Testosterone Supplements

By selecting the right testosterone booster, you can reclaim your vitality and unlock benefits such as increased energy levels, improved concentration, enhanced physical performance, and a revitalized sense of well-being. Take charge of your health and consider incorporating a trusted testosterone booster into your daily routine.

2023’s Best Testosterone Boosters: Top Picks for Men

Are you tired of feeling sluggish and lacking energy? Do you want to take your workouts to the next level and achieve better muscle development? Look no further – the best testosterone booster is here to help!

Boosting your testosterone levels naturally can have a profound impact on your overall well-being. But what exactly is a testosterone booster, and why should you consider using one? Let’s delve into the world of testosterone and explore its benefits for men’s health.

Testosterone is a hormone that plays a crucial role in various aspects of our lives, from enhancing stamina to promoting muscle development. It affects our body composition, protein synthesis, and even our mood. However, as we age, our testosterone levels tend to decline, leading to fatigue, decreased libido, and reduced muscle mass.

That’s where a testosterone booster comes in. These supplements are specifically designed to increase your body’s production of this vital hormone. They contain active ingredients like tongkat ali or synthetic hormones that work synergistically with your body to optimize testosterone levels naturally.

Choosing the best testosterone booster for your needs is essential. With numerous options available in the market today, it can be overwhelming to find the right one. Factors such as ingredient quality, efficacy, safety profile, and customer reviews all play a role in making an informed decision.

In this blog post series, we will guide you through everything you need to know about finding the best testosterone booster for yourself. We’ll explore popular products like TestoFuel or Vigrx Tongkat Ali and provide insights into their effectiveness. So get ready to unlock your true potential with increased energy levels, improved muscle growth, and enhanced overall well-being!

Stay tuned for our upcoming articles where we’ll dive deeper into each aspect of choosing the best testosterone booster tailored just for you!