Social security calculators

[samcat]

I'm trying to estimate social security using different future incomes. We are a Sub S Corp so can change what our W-2 income is.

I tried the SSA website. It only allows you to estimate one amount for future years. I'd like to be able to change each year going forward. Anyone know a calculator like that? Thanks!

 

[Walt34]

I haven't looked at the ssa.gov site for a couple of years (I'm collecting now) but there used to be an option to get different estimates for varying periods of employment or no employment. As I recall it wasn't obvious, I think you had to get the first estimate and then look for the button for further estimates.

So try getting one estimate and then look for an option for more estimates.

 

[Curmudgeon]

Have you used the downloadable 'Any PIA' tool from SSA? I thought that allowed you to enter any numbers you wanted. It's been a few years, though, so I may be wrong.

 

[samcat]

Thanks. Will look for both suggestions.

 

[Perryinva]

It really matters how many years away SS is. If more that 15, then the numbers are just WAGS because the multiplyer used to inflation adjust previous years is a total guess, as is the inflection point for determining what amount of average 420 period income is multiplied by 90, 32, and 15%. Even as an always max SS payer for over 35 years, my estimated amounts from 15 years ago are many thousands less per year than they will be in 2 years at 62. Basically, 90% of the first 10% of max income is used as a base amount, and then 32% from 10 to 60%, & once your income is within 60% of SS max, only 15% of the remaining 40% is added to your amount, ie, it is means tested. But the max monthly average increases every year.

 

[NoiseBoy]

You might try the Windfall Elimination Provision (WEP) calculator. It's for people who will collect a DB pension for years when they worked and did not pay any social security tax. It has more options than the basic calculator, so you might try supplying a very small WEP pension amount and see if it will work for you. It's all online, but sadly you still have to copy your own earnings into it.

 

[Independent]

This example on the SS website is easy to follow. https://www.ssa.gov/oact/progdata/retirebenefit1.html

Some of us copied it into our own spreadsheets. Then we can try any pattern of future income we like.

 

[samcat]

Thanks!