Social Security Calculator

Social Security Calculator

Average Indexed Monthly Earnings (AIME) Claiming Age

Enter details and click Calculate.

 

Calculator for Social Security Benefits (Calculate your monthly benefits for retirement, disability, or survivorship) Input Your Details:

 Current Age: _______ (years)

 Planned Retirement Age: _______ (62–70; affects benefit amount)

 Average Income: $_______ per Year (During the 35 Best Years of Earning) Years Worked: _______ (if <35, $0 years are included)

 Benefits of the Spouse? ✅ Yes / ❌ No (if claiming as a couple)

 Calculate:

  Full Retirement Age (FRA): _______ (for instance, 67 for individuals born after 1960) At FRA, the anticipated monthly benefit is $_______. ⚠ Early (62) or Delayed (70) Retirement?  (Adjusts amount)

 How Things Work: Benefit Formula:

 Social Security uses your top 35 earning years (adjusted for inflation).

 If you worked less than 35 years, $0 years are added, reducing your average.

 Impact of Retirement Age: Early (62): Permanent reduction (e.g., ~30% less than FRA).

 Delay (70): Boosts benefits by 8% yearly after FRA.

 Spousal Benefits: Up to 50% of your spouse’s FRA amount.

 Example Calculation:

 Average Income: $60,000 for 35 years

 Full Retirement Age (FRA): 67

 Monthly Benefit at FRA: ~$2,300

 Early Retirement at 62: ~$1,600 (30% reduction)

 Delayed to 70: ~$2,850 (24% increase)

 Key Factors:

  Past Income: Higher earnings equal higher benefits ✔ Work Duration: Fewer than 35 years lowers payouts.

 ✔ Taxes: Up to 85% of benefits may be taxable if income exceeds limits.

 Tips to Maximize Benefits:

 Work 35+ years to avoid $0 years in calculations.

 Delay claiming until 70 for maximum monthly payouts.

 Check your statement: Create a mySocialSecurity account for official estimates.

 Try It:

 🔹 At 62: $/month

 67 at FRA: $ per month 🔹 At 70: $_______/month

 (Remember that estimates are only estimates. Use the official calculator provided by the SSA for exact numbers.)