AIME, PIA, FRA, DECs… WHAT THE????
Unfortunately, these are the acronyms used regularly in regards to YOUR Social Security benefits.
You really need to understand how these topics work together because many retirees rely heavily on Social Security. In fact, there are studies done that shows Social Security provides MOST of the income for retirees!
Given that, doesn’t it make sense to understand the Social Security system and how works? Doesn’t it also make sense to understand how the system can benefit you?
I believe it does.
So, in this episode we discuss:
***AIME – Averaged Indexed Monthly Earnings
***PIA – Primary Insurance Amount
***FRA – Full Retirement Age
*** DECs – Delayed Earnings Credits
We also discuss what happens when you file early, but I am not aware of any acronym that identifies that. So, consider that a bonus!
As ways, go to my website at www.heritagewealthplanning.com to learn more.
Go HERE for the video version of this episode.