The Social Security Administration offers the possibility to use 2 retirement benefits calculators. One of them is the Quick Calculator. All you will need to use it are a few details.
For example, to use this benefit Quick Calculator you will need to enter your birthdate. What is more, you will need to type the earnings you had this year so far. Make sure these earnings are covered by Social Security.
QUICK CALCULATOR & RETIREMENT OPTIONS
Do not forget that you can enter as many options as necessary. In this way, you can find out the different possible amounts at different ages. What is more, you may also be able to enter different amounts if necessary.
The best thing about this Social Security Quick Calculator is the fact that you can use today’s dollars and inflated dollars. Make sure you take into account inflation when you file for Social Security retirement benefits.
What is more, you will be able to see if you could get SSDI, disability benefits. Apart from you, your spouse, children, or even parents could be entitled to Social Security. Visit https://www.ssa.gov/OACT/quickcalc/ to do it now.
EARLY OR LATE RETIREMENT CALCULATOR
Social Security also offers the possibility to use an early or late filing benefit calculator. While early filers get about 30% less, later filers can receive 24% extra from the Administration.
62-year-olds can apply for Social Security if they have earned enough work credits. However, 70-year-olds should not delay retirement any longer because benefits will not continue increasing.
To use this early/late retirement calculator you just need to enter your birthdate, the exact date to start getting retirement benefits and the month you reach FRA. Do it now at https://www.ssa.gov/OACT/quickcalc/early_late.html.
As a bonus tip, you could avoid using Social Security calculators which may be inaccurate if you do not enter the correct information. Download a Social Security Statement instead and keep it simple.