Aug
4th
Wed
4th
Social Security: how much do YOU have coming?
Did you know that the Social Security Administration has an online calculator to to help you estimate how much you can collect? I didn’t either. But my colleague from Highlights did.
The calculator gives you three estimates*: the monthly amounts you could collect if you retire at age 62, at your actual retirement age (65 or 67 depending on your age), and at age 70. As my colleague pointed out, for many of us it looks like working until age 70 is probably a good idea if possible.
*The SSA emphasizes that this is merely an estimate that can’t control for factors like inflation and changes in income over time.
