Millions of people rely on Social Security for their well-being in retirement. But few people understand how their Social Security benefit is actually calculated.

In the following slideshow, Dan Caplinger, The Motley Fool's director of investment planning, goes through the basics of figuring your Social Security benefit, with details on how Social Security takes into account your earnings and converts them to a monthly benefit check based on decisions you make on when to take Social Security.

Your Social Security Benefit in 4 Easy Slides from The Motley Fool.

Don't just rely on Social Security
Smart investing is a key to how rich you are in retirement. But in choosing stocks for your investment portfolio, there's a huge difference between a good stock and a stock that can make you rich. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.

Fool contributor Dan Caplinger and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.