social security benefit, if you check the married box, the total is increased to include an additional 50% of your benefit for your spouse. If your spouse will be collecting their own benefit, do no check the "married" box. You will need to run the calculator separately for their income...
To understand Social Security benefit calculations, you first need to understand one piece of jargon: “primary insurance amount” (PIA). A person’s primary insurance amount is the amount of their monthly retirement benefit, if they file for that benefit exactly at theirfull retirement age. If ...
Your primary insurance amount (PIA) is the amount of your monthly retirement benefit, if you file for it at your full retirement age. If you are younger than full retirement age, your Social Security statement will include an estimate of your PIA (more details here). You can also call the...
Retirement Calculator The bottom line Claiming Social Security is a complex process, but one of the biggest factors in your monthly benefit is how old you are when you start claiming. Because that monthly paycheck is fixed, generally speaking, it’s important to weigh the advantages of claiming...
“You can use personal savings to help bridge the gap, but ideally you should plan to work a little longer (and delay Social Security),” Neiser says. Check out Bankrate’sretirement income calculatorto figure out how much monthly income your savings will provide you. Then Bankrate’sSocial ...
Social SecurityEmployee BenefitsRetirementMortgagesFinancial PlanningPersonal Finance By Eric Reed Eric Reed is a freelance journalist based in Boston. Start Conversation TheStreet Daily Newsletter Sign up today for our free newsletter and you'll receive an exclusive report explaining hedge fund guru Doug...
For example, if you are eligible for $1,000 per month in Social Security payments at your full retirement age of 67, you could increase your Social Security benefit to $1,240 per month by waiting until age 70 to start your Social Security payments. These higher payments last for the ...
For many, delayed claiming offers a higher rate-of-return than alternative investments — and it’s guaranteed. Secret Strategies We know all the secret strategies for getting the most from Social Security retirement or spousal benefit claiming decisions....
Putting the maximum Social Security benefit closer to $2,710 per month. For a more personalized estimate of the benefits you could receive at various ages, visit the Social Security Administration website and use its calculator. The site also allows you to estimate your benefits by answering a...
Workers can get a projection of their benefits at different retirement ages by using acalculatorthat's provided on the Social Security Administration website. Social Security provides a special minimum benefit for long-term low earners that was first enacted in 1972. You must have income for at ...