Estimating Your Social Security Benefits

The Social Security Administration (SSA) now has an online option (called my Social Security) for receiving annual benefit statements — however, if you do not wish to open an account, you may still estimate your Social Security benefits.

You may estimate your Social Security benefits by using one of the following tools on SSA.gov:

  • The Retirement Estimator gives estimates of your retirement monthly benefit, based on your actual Social Security earnings record. The calculator shows early (age 62), full (ages 65-67 depending upon your year of birth), and delayed (age 70). The Retirement Estimator also lets you create additional “what if” retirement scenarios based on current law.
  • If you do not have an earnings record with Social Security or cannot access it, there are also other benefit calculators that do not tie into your earnings record. The calculators will show your retirement benefits as well as disability and survivor benefit amounts if you should become disabled or die.

If Social Security is a part of your retirement income planning, make a point of checking your estimated benefits at least annually so you know how much to expect — and how much you’ll need to provide from your own savings.

Also, remember that Social Security benefits don’t automatically increase every year. They typically are raised to reflect an increase in inflation.

Because of the possibility of human or mechanical error by DST Systems, Inc. or its sources, neither DST Systems, Inc. nor its sources guarantees the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. In no event shall DST Systems, Inc. be liable for any indirect, special or consequential damages in connection with subscriber’s or others’ use of the content.

© 2019 DST Systems, Inc. Reproduction in whole or in part prohibited, except by permission. All rights reserved. Not responsible for any errors or omissions.

More Articles

June 30, 2020

A Letter To Our Clients June 30, 2020  Dear Valued Investor: The July Fourth holiday will be very different this year. Although it’s a time to enjoy family [...]

Proper Financial Planning: Critical for Women

Proper Financial Planning: Critical for Women A key goal of investing for retirement is making sure you save enough to make your money last throughout your lifetime. On [...]

June 4, 2020

A Letter To Our Clients June 4, 2020 Dear Valued Investor: As we look ahead to the summer months, we can’t help but think what a challenging year [...]

May 21, 2020

A Letter To Our Clients May 21, 2020 Dear Valued Investor: “Never confuse a single defeat with a final defeat.” — F. Scott Fitzgerald The economic struggles in [...]

Estimating Your Social Security Benefits

Estimating Your Social Security Benefits The Social Security Administration (SSA) now has an online option (called my Social Security) for receiving annual benefit statements -- however, if you [...]

A Plan to Reduce Credit Card Debt

A Plan to Reduce Credit Card Debt If you are contributing to a staggering sum of outstanding credit card debt in America, you need to start digging your [...]

Ready to talk?

Let’s start by scheduling a no-obligation introductory conversation. We can get to know each other, discuss your goals, and find out if we are a good fit.

Let’s Talk