Social Security retirement payments are a supplement to your savings, investments, and pensions. However, if you rely on these monthly benefits as the main source of your income as a retiree, you need to look for ways to boost your future checks or direct deposits. For example, you can earn delayed credits by filing for benefits at the age of 70.
In this way, you will receive 24% extra. But how can you know the estimate of your future Social Security payment? The good thing is the fact that you can do it for free and online too.
Get your Social Security estimate payment
On a recent post, the Social Security Administration reminds workers who are close to retirement age to find out about their benefits estimate. All you have to do is use SSA’s tool on: https://www.ssa.gov/prepare/get-benefits-estimate?utm_source=x&utm_medium=social&utm_campaign=smt-retirement-25&utm_content=awareness
Remember that to do so, you will need to log in to your my Social Security account. So, once you sign in, you will be able to check it. What is more, it will not just be for retirement.
For example, you could also check an estimate for SSDI payments if you have a qualifying disability and have earned enough work credits. The good thing is that you can see estimates depending on when you apply for retirement. Adjusting expected future income is also possible to see how it could affect your benefits.
Download a Social Security Statement
Another simple way to get plenty of information regarding future monthly payments in retirement is by downloading a Social Security Statement. Once more, it is a free tool.
With this Social Security Statement, you will see the personalized monthly retirement benefit estimates at ages 62 through 70. Then, you will be able to compare them and see the age that suits you best.
Apart from retirement, you will get information regarding disability benefits, medicare, survivor benefits as well as your earnings records. Get is ASAP to learn more about your future retirement checks.