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Estimate Your Future Social Security Income at Your Target Retirement Age

Calculate Your Social Security Retirement Benefits

The following calculator enables workers to see what their prospective Social Security benefits will be if they retire at various ages & income levels.

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Understanding Your Benefits

Social security helps retired people cover their living costs. Working an additional couple years can have a big impact on the benefits available at retirement. As a hypothetical example, a current 44 year old could start recieving benefits as early as age 62, while getting their full benefits at 67. If they enjoy their job and are in good health they may want to consider waiting until they are 70 to access their benefits so they can keep doing work they enjoy and get a higher monthly payment while in retirement.

The Social Security program is likely to change over time, but given the current law, if the above person earned $43,000 annually while expecting a salary increase of 3% in an economy with a 2.9% rate of inflation, here are the benefits they could expect to earn as an individual.

Age Benefits Begin Amount Per Month Amount Per Year
62 $1,643 $19,712
63 $1,760 $21,120
64 $1,877 $22,528
65 $2,034 $24,405
66 $2,190 $26,283
67 $2,347 $28,160
68 $2,534 $30,413
69 $2,722 $32,666
70 $2,910 $34,918

If the person was married & had a non-working spouse those benefits would be as follows

Age Benefits Begin Amount Per Month Amount Per Year
62 $2,464 $29,567
63 $2,640 $31,679
64 $2,816 $33,791
65 $3,051 $36,607
66 $3,285 $39,423
67 $3,520 $42,239
68 $3,802 $45,618
69 $4,083 $48,997
70 $4,365 $52,376

Elder Couple in Mountains.

The Social Security Administration also offers a variety of helpful planning & calculation tools on their website.

Many homeowners also supplement their Social Security benefits & other retirement income by leveraging their home equity, taking out a HECM reverse mortgage.

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