Most Americans are counting on social security to provide at least at portion of retirement income. Use this calculator to estimate your social security benefit.
Enter your current age.
Enter your current income.
Wage Growth Percentage
Enter the percentage by which you expect your wages to grow. Typically, 3% - 5%
Enter the inflation rate you would like to use for this calculation. The historical average is 2-3%.
The table below outlines your estimated social security benefits at ages 62, 67
and 70. Your wages are projected forward based on the wage growth percentage you
entered. If you retire before age 67 your full retirement benefit will be reduced
by as much as 30%. The percentage of the full retirement benefit you receive will
increase monthly as you approach age 67.
If You Retire at Age 62
Your estimated social security benefit if you retire at age 62.
If You Retire at Age 67
Your estimated social security benefit if you retire at age 67.
If You Retire at Age 70
Your estimated social security benefit if you retire at age 70.
Southwest Colorado Federal Credit Union is a federally chartered Community Credit Union.15 Bodo DriveDurango, CO 81303www.swcolocu.coop
Social Security Questions" provides answers to common
social security questions.
SocialSecurity.gov is the official website of the
U.S. Social Security Administration.
WSJ.com's "Retirement Planning" section
offers articles on all aspects of retirement planning, including 401(k)s, investing,
and other ways to supplement social security benefits.