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12-13-2017, 06:04 AM
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#1
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Full time employment: Posting here.
Join Date: Sep 2017
Posts: 816
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SS benefit calculator?
I'm going through "what-ifs" on when I start pulling my SS.
I am turning 62 in a month and plan to retire in 2019 .... perhaps earlier if my tolerance for MegaCorp BS fails me! LOL
Anyway, is there a way I can input a target SS date and get estimated SS benefits? I've been looking at the SS website and I can't see any. All I see are estimates for 62yo, for FRA, and for age 70.
Thx,
Rob
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12-13-2017, 06:14 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Oct 2017
Location: Tellico Village
Posts: 2,596
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Quote:
Originally Posted by albireo13
I'm going through "what-ifs" on when I start pulling my SS.
I am turning 62 in a month and plan to retire in 2019 .... perhaps earlier if my tolerance for MegaCorp BS fails me! LOL
Anyway, is there a way I can input a target SS date and get estimated SS benefits? I've been looking at the SS website and I can't see any. All I see are estimates for 62yo, for FRA, and for age 70.
Thx,
Rob
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This ssa.gov calculator will give you the percentage of full retirement amount that you and spouse will receive at each age. Just get your full retirement amount and apply the percentage at the age you want to retire.
https://www.ssa.gov/planners/retire/1943.html
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12-13-2017, 06:23 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
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Its been a long time since I played with this. On the SS site there was an estimate benefits page that you have to put in personal info to get the estimate with the final being you SS income last year. Then it gives you the 3 examples you mention. On that page you can get additional estimate by giving the year you want to retire and what your income will be between now and retirement.
You likely have a enough time and lifetime earnings that the income difference will not be a big factor.
edit -- ssa site/ retirement estimater/get estimate / fill in your stuff and get your estimate/ bottom of the page -- just below the typical 3 estimates a button to get another estimate.
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12-13-2017, 07:47 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 2,778
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Quote:
Originally Posted by albireo13
I've been looking at the SS website and I can't see any. All I see are estimates for 62yo, for FRA, and for age 70.
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You were almost there. After running the initial estimate using the retirement estimator at ssa.gov, click the button at the bottom of the results page to "add a new estimate." That will allow you to enter different retirement ages (meaning the age when benefits are claimed). I compiled a range of answers in a spreadsheet.
Alternatively, you can download the detailed calculator here:
https://www.ssa.gov/OACT/anypia/anypia.html
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12-13-2017, 10:13 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,427
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It seems that those of us that came in under the wire for "restricted application" and went on spousal at full retirement age are not able to get a statement or use the calculators at the SSA site to get updated age 70 projections based on our own records. I use AnyPIA to get around the SSA ignoring my future entitlement to my own benefit.
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12-13-2017, 11:02 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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The program anypia.exe that one downloads shows the future benefits in today's dollars. One must remember to update it every so often if curious to see what the cumulative inflation adjustments have been.
I downloaded this program some time in 2014 I think, and spent the time to enter in our wage histories. To see the effect of inflation adjustment, I downloaded a new version recently, and found that the inflation adjustments have kicked my benefits up 8.5% in nominal terms. That's OK. My personal inflation rate is a lot less than that.
The new version can read the same data set that I saved, so it is painless the 2nd time around.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-13-2017, 01:34 PM
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#7
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Full time employment: Posting here.
Join Date: May 2007
Posts: 880
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If you like to fool around with spreadsheets, then you can calculate exactly what you'll get. Instructions at this link: http://moneyover55.about.com/od/soci...ty-Benefit.htm
__________________
"It is better to have a permanent income than to be fascinating". Oscar Wilde
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12-13-2017, 02:47 PM
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#8
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Full time employment: Posting here.
Join Date: Aug 2015
Posts: 987
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The simple no brainer version that allows you to vary COLA is SSAnalyze. Google it. All you need is your FRA amount as shown on the SS site. But only shows future dollars, not 2017 like SSA does. Allows easy estimates for every age and a total benefit collected.
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12-14-2017, 05:08 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,046
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12-14-2017, 05:39 AM
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#10
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gone traveling
Join Date: Dec 2016
Posts: 733
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12-14-2017, 11:57 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Jul 2014
Location: Undisclosed
Posts: 1,236
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Quote:
Originally Posted by Perryinva
The simple no brainer version that allows you to vary COLA is SSAnalyze. Google it. All you need is your FRA amount as shown on the SS site. But only shows future dollars, not 2017 like SSA does. Allows easy estimates for every age and a total benefit collected.
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If you set the top value in each column to 0, you get today's dollars instead of future dollars.
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12-14-2017, 12:34 PM
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#12
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gone traveling
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 1,406
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I am a big fan of spending $40 for https://maximizemysocialsecurity.com
You can really get a feel for temporal effects.
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12-14-2017, 02:20 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Oct 2012
Location: Colorado Mountains
Posts: 3,163
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Quote:
Originally Posted by NW-Bound
The program anypia.exe that one downloads shows the future benefits in today's dollars. One must remember to update it every so often if curious to see what the cumulative inflation adjustments have been.
I downloaded this program some time in 2014 I think, and spent the time to enter in our wage histories. To see the effect of inflation adjustment, I downloaded a new version recently, and found that the inflation adjustments have kicked my benefits up 8.5% in nominal terms. That's OK. My personal inflation rate is a lot less than that.
The new version can read the same data set that I saved, so it is painless the 2nd time around.
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I downloaded it and copied in the data from somewhere else in the SSA site. It was pretty easy. I'm collecting SS on the late DW's account, so I cannot use the other SSA tools either.
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12-15-2017, 07:13 AM
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#14
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Full time employment: Posting here.
Join Date: Aug 2015
Posts: 987
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Quote:
Originally Posted by N02L84ER
If you set the top value in each column to 0, you get today's dollars instead of future dollars.
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DOH! Of course it would. Zero inflation means 2017 and future dollars are the same. Don’t know what I was thinking!! Must have been 😴 💤
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12-15-2017, 01:21 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Apr 2013
Location: Beach and Mountain
Posts: 1,086
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In my case, the difference between retiring at 55 and 59 was very little. Maybe 3% more?
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