Which factors can affect the amount of Social Security benefits received?

The amount of Social Security benefits a person receives is primarily influenced by work history, age at retirement, and earnings during working years. Work history is crucial because Social Security benefits are calculated based on a person's 35 highest-earning years, ensuring that those who have worked longer and earned more typically receive larger benefits. The age at which an individual chooses to retire also plays a significant role; benefits can be claimed as early as age 62, but doing so results in a reduction compared to claiming at full retirement age or delaying benefits beyond that age, which can increase the monthly amount. Finally, the earnings during working years determine the earnings record, which is used to calculate the primary insurance amount (PIA), the basis for the benefits received.

Other factors mentioned in the choices, such as marital status and number of dependents, have some influence on benefits, especially concerning spousal benefits or dependents' eligibility for benefits, but they do not directly set the base amount of an individual's Social Security benefit. Educational background and job sector do not directly impact the benefit calculation, nor do location and cost of living adjustments fundamentally alter the benefits design, as benefits are based on individual work history and earnings rather than these additional factors.