Social Security StatementBenefit EstimatesMicrosimulationSince 1999, the Social Security Administration (SSA) has mailed an annual Social Security Statement to individuals aged 25 or older showing their reported earniSpringstead, GlennWeaver, David
Taking Social Security: How to benefit by waiting For those who are able to do so, it may make sense to wait even longer, because you’ll receive a larger monthly benefit – even more than your full benefit. Every month past your full retirement that you delay, Social Security will incre...
how long you work and at what age you retire. Social Security benefits automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes ...
Social Security and is the co-author of the best-selling "Get What's Yours: The Secrets to Maxing Out Your Social Security," said that the mistakes can range from claiming benefits too early to following the wrong advice, such as claiming both a survivors benefit and retirement benefit at ...
Life insurance plays an important role in retirement planning because it can help the surviving spouse (and other family members) cope with income needs when one spouse passes away. Studies have also found that the purchase of life insurance is welfare-enhancing (see, e.g., Hong and Ríos-Ru...
Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more.
When it comes to preparing for a financially comfortable retirement, you're going to have to plan ahead. It's important to take advantage of your Social Security benefits, specifically. In order to boost your retirement income, you don't want to collect too early or make any major life dec...
issue, and the average life expectancy for those retiring may be longer than most people realize or have financially planned for. It's estimated that one in three 65-year-olds will live past age 90, and one in seven will live past age 95, according to the Social Security Administration....
You can collect Social Security benefits before you reach your full retirement age beginning at age 62, but doing so will permanently reduce your monthly benefit. This is high stakes for many Americans, especially the estimated 40% who rely on Social Security as their entire retirement income.3...
In its 2024 report, the Social Security Board of Trustees estimated that reserves in the retirement fund (OASI Trust Fund) will become depleted in 2033. This was unchanged from the previous year's projection. Ongoing tax revenue will be enough to pay only 79% of scheduled benefits after that...