Ssa retirement age calculator
Inflation Rate Annual Your Current Income Year. Average Investment Return.
Precisely When You Become Eligible To Receive Your Full Unreduced Social Security Retirement Benefit Depends Retirement Age Retirement Benefits Age Calculator
Expected Social Security Income Month estimate your number at SSAgov.
. Sixty-two is the current retirement age and the estimated retirement age for current workers is 64. If you choose to retire at 62. Full Retirement Age For Survivors chart Delayed Retirement Credits.
We would like to show you a description here but the site wont allow us. Your Age Now. Mary Ann qualifies for a retirement benefit of 250 and a spouses benefit of 400.
Keep in mind that you may have options to increase your benefit amounts. The law raised the full retirement age beginning with people born in 1938 or later. A 500 spouses benefit would be reduced to The spouses benefit is reduced by 5.
When comparing the break even age of 62 versus 70 a 2 cost of living adjustment decreases the break even point by 19 months. A 1000 retirement benefit would be reduced to The retirement benefit is reduced by 4. 66 and 2 months.
As an example of the impact of COLA consider an individuals 2000 benefit at a full retirement age of 67. As I note in my article failing to account for benefits increases due COLAs skews the final numbers. For example according to the SSAs retirement age chart if you were born in 1959 your full retirement age is 66 and 10 months.
The retirement age gradually increases by a few months for every birth year until it reaches 67 for people born in 1960 and later. At her full retirement age she will receive her own 250 retirement benefit and we will add 150 from her spouses benefit for a total of 400. Your Planned Retirement Age.
Income Needed After Retirement. Use our retirement age calculator to estimate projected retirement age number of contributions total investment and interest earned. Plan for the future.
Benefits By Year Of Birth. The median retirement savings for all workers is 97000. Women have smaller retirement savings overall with an average 57000 saved compared to mens 118000.
Other Income After Retirement Month pension rental property income. At Age 62 3. Full normal Retirement Age Months between age 62 and full retirement age 2.
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