Los Angeles Retirement Benefits Attorney

A secure and comfortable retirement is every worker's dream. Considering that we are now living longer and healthier lives, we can expect to spend more time in retirement than our ancestors did. Hence, achieving that dream of a secure and comfortable retirement is much easier when you plan your finances early on. Having able to talk with a Los Angeles Retirement Benefits attorney can help you in understanding the complexities in applying for your retirement benefits.

Your Social Security benefits are the foundation on which you can build a secure life after retirement. Most financial advisors would say you'll need about 70 percent of your pre-retirement earnings to comfortably maintain your pre-retirement standard of living. Under current law, if you have average earnings, your retirement benefits will replace only about 40 percent, so there is really a need to supplement your benefits with a pension, savings strategy or investment plan. It is important that if you hire a Retirement Benefits attorney choose the one who is an expert on Social Security.

A Los Angeles Social Security attorney will provide detailed information about your retirement benefits under current law and will outline things you may want to consider as you prepare for your retirement in the future. You can ask a Los Angeles Retirement Benefits Attorney on the calculations of the different retirement ages or different future earning amounts. If you are already near retirement age, a Los Angeles Retirement Benefits attorney can give you instructions on how to apply for benefits and what supporting documents you will need to furnish

Calculation of Retirement Benefits

Retirement benefits are based on earnings averaged over most of a worker's lifetime. Your actual earnings are first adjusted to account for changes in average wages beginning from the year the earnings were received. Then your average monthly earnings will be calculated during the 35 years in which you earned the most. This is the amount you would receive at your full retirement age, which for most people is age 65.

As you can deduce from the above discussion, the benefit computation is quite complex and there are no simple tables that we can present to tell you exactly how much you will receive. However, a Los Angeles Retirement Benefit attorney is competent in making the calculation for you.

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