Social Security Calculator
Estimate your Social Security retirement benefits and plan your retirement income
The Social Security calculator helps you estimate your monthly retirement benefits based on your earnings history, retirement age, and current Social Security rules. Use this tool to understand how different retirement ages affect your benefits and plan your retirement strategy.
Personal Information
Earnings Information
Advanced Options
Social Security Benefits Estimate
Enter your information to estimate Social Security benefits
Common Scenarios
Average Earner
$50,000 annual earnings, 35 years worked
High Earner
$100,000+ annual earnings, maximum benefits
Early Retirement
Retire at 62, reduced benefits
How Social Security Benefits Work
Benefit Calculation
Social Security benefits are calculated using:
- Average Indexed Monthly Earnings (AIME): Your highest 35 years of earnings, adjusted for inflation
- Primary Insurance Amount (PIA): Monthly benefit at full retirement age
- Bend Points: Progressive formula that replaces higher percentage of lower earnings
- Retirement Age Adjustment: Benefits reduced for early retirement, increased for delayed retirement
Full Retirement Age
Your full retirement age depends on your birth year:
Example Calculation
Worker Profile
Birth Year: 1960 (Full retirement age: 67)
Current Age: 62
Average Annual Earnings: $60,000
Years Worked: 35 years
Retirement Age: 67 (full benefits)
Estimated Benefits
Primary Insurance Amount: $1,800/month
At Age 62: $1,260/month (30% reduction)
At Age 67: $1,800/month (full benefits)
At Age 70: $2,232/month (24% increase)
Annual Benefit at 67: $21,600
Frequently Asked Questions
When should I start taking Social Security?
It depends on your financial situation and life expectancy. Taking benefits early (age 62) reduces monthly payments but provides income sooner. Waiting until age 70 maximizes monthly benefits. Consider your health, other retirement income, and financial needs.
How accurate are these estimates?
These are estimates based on current Social Security rules and your input. For official benefit estimates, create an account at ssa.gov and review your Social Security Statement, which shows your actual earnings history and benefit projections.
Can I work while receiving Social Security?
Yes, but if you're under full retirement age, your benefits may be reduced if you earn above certain limits. Once you reach full retirement age, you can work and earn any amount without affecting your Social Security benefits.
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