Social Security Calculator: Estimate Your Benefits

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How to use this Social Security calculator

  1. Enter your date of birth. The Social Security Administration uses your date of birth to determine when you’re eligible for 100% of your retirement benefits, among other things.

  2. Enter the age at which you’d like to start taking your Social Security retirement benefits. How much your Social Security retirement check is depends in part upon when you decide to retire.

  3. Enter your current annual income. This helps us estimate your past and future earnings.

  4. Enter an estimate of your future annual salary to increases. This helps us estimate what you might earn between now and when you decide to retire.

How the Social Security calculator works

Three things greatly influence the size of your Social Security retirement benefits: your highest 35 years of earnings, when you were born and when you decide to start taking benefits. This Social Security benefits calculator accounts for those three things.

The math to calculate Social Security retirement benefits is complex, and the calculator also incorporates the following data from the Social Security Administration:

  • The average wage index series, which tracks average wages in the United States and annual changes in those average wages.

  • The annual wage base, which reflects the maximum amount of a person’s wages subject to Social Security taxes in a given year.

  • The SSA’s annual cost-of-living adjustments.

  • The bend points the SSA applies to a person’s average indexed monthly earnings.

  • Full retirement age by birth year, as set by the SSA.

  • The set percentages by which the SSA decreases or increases a person’s benefits depending on their birth year and when they apply for retirement benefits.

Shopping for Medicare plans? We have you covered.

Next steps: More answers about Social Security retirement benefits

🤓Nerdy Tip

Did you know that your Medicare Part B premiums are automatically deducted from your Social Security checks? Learn more about Part B premiums.

Additional questions you might want to look into include:

Key Social Security terms to know

Primary insurance amount (PIA): This is the Social Security retirement benefit a person receives if they apply for benefits at full retirement age.

Full retirement age: The age at which a person is entitled to 100% of their monthly Social Security retirement benefit (their PIA). The full retirement age for Social Security ranges from 65 to 67. The SSA decides a person’s full retirement age based on when they were born.

Eligibility age: The earliest age at which a person can begin taking Social Security retirement benefits. Typically this is age 62. The eligibility age is not the same as the full retirement age. Taking Social Security benefits before full retirement age typically results in a smaller monthly check.

Bend point: The PIA is the sum of three distinct percentages of portions of the worker’s average indexed monthly wages. The thresholds of these portions are the “bend points” in the PIA formula.

Spousal benefits: Social Security spousal benefits may provide a monthly sum to a retired worker’s spouse or former spouse. The amount is up to 50% of the value of the retired worker’s benefit. Receiving spousal benefits doesn’t reduce the retired worker’s retirement benefits; spousal benefits are on top of the retired worker’s benefits.

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