 |
|
social security guesstimate
11-17-2016, 05:37 PM
|
#1
|
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: seattle
Posts: 43
|
social security guesstimate
Hello
I have a MacBook and so the detailed social security calculator from the government site doesn't work for me.
Most of my social security contributions are in years I've made the max contribution level (I'm ignoring all the years at <$8000/yr income)
I have been guesstimating social security by #yrs contributing max* current max (i.e. will be 127,000$ for 2017) divided by 35 divided by 12
all this in order to get AIME and then using the multipliers from there (i.e. .9 for first bit, then .32 for next, etc)
So my question is - is the wage adjustment really that simple - i.e. is the max income from last year 118,000 really now $127,000?
Basically I'd been kind of hoping to get to the 50% mark (i.e. the second bend point) and had thought it'd basically be 17-18 years contribution the max.
But the high increase to $127,000 this year based on wage index (not inflation) makes me wonder if thats really true...
Hope my question makes sense to someone...
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
11-17-2016, 06:11 PM
|
#2
|
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: seattle
Posts: 43
|
maybe clearer?
sorry -
realized that was completely incomprehensible.
so let me try with numbers
last year I guesstimated by eventual social security as
(118000* # of yrs worked)divided by 420=AIME
this year - using my method -
it would be
(127,500* # yrs worked) divided by 420= AIME
than benefit would be 1st bend point (approx 890$)*.9
plus second bend point (AIME-890)*.32
that would be a pretty big "raise" even if years worked stayed the same.
Is that correct?
Thanks
|
|
|
|
|
11-18-2016, 04:41 AM
|
#3
|
|
Recycles dryer sheets
Join Date: Jul 2016
Location: North East
Posts: 189
|
Why don't you just go to SSA.gov, create an account, and get the real numbers directly from them?
|
|
|
|
|
11-18-2016, 05:14 AM
|
#4
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: Midwest
Posts: 1,644
|
It seems like SS would have a way to access the info from Mac products. Have you contacted them?
|
|
|
|
|
11-18-2016, 05:41 AM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
|
 Quote:
Originally Posted by brucethebroker
It seems like SS would have a way to access the info from Mac products. Have you contacted them?
|
There is a tool that can be downloaded for a Mac.
Quote:
The downloadable files are stored in a self-extracting archive. The 2016.2 version of the calculator and data, updated through 2015, is in the Anypia.dmg disk image file. Click on Anypia.dmg (10,302,881 bytes) to download the Mac OS version.
https://www.ssa.gov/oact/anypia/download.html
|
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
|
|
|
|
|
11-18-2016, 03:13 PM
|
#6
|
|
Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 21,638
|
When I did the online estimator tool for SS I later found that it was very close, within single digits after I started SS. So I suggest just using that one and don't worry about it.
__________________
I heard the call to do nothing. So I answered it.
|
|
|
|
|
11-18-2016, 03:17 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,307
|
Quote:
Originally Posted by Walt34
When I did the online estimator tool for SS I later found that it was very close, within single digits after I started SS. So I suggest just using that one and don't worry about it.
|
Agreed. That estimator was very close to my actual number as well.
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
|
|
|
|
|
11-18-2016, 03:24 PM
|
#8
|
|
Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 16,667
|
The downloadable AnyPIA calculator's estimate was within pennies of the actual amount I received when I started taking SS.
|
|
|
|
|
11-18-2016, 03:41 PM
|
#9
|
|
Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 11,475
|
The online calculator (when you have an account so it's using your numbers) was very accurate for DH. Within $1/month.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 7%, rental income 18%
|
|
|
|
|
11-18-2016, 10:24 PM
|
#10
|
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: seattle
Posts: 43
|
thank you all for your responses. I've tried to download the calculator before.
on the site it says-
"Note that this Mac version will not work on a Mac running Lion or newer versions of the OS X operating system. We are currently working on producing a new Mac version which will work on newer versions of OS X, but this may take some time."
has anyone gotten it to work on an updated mac?
|
|
|
|
|
11-18-2016, 10:39 PM
|
#11
|
|
Thinks s/he gets paid by the post
Join Date: Apr 2016
Location: Dutchess County
Posts: 1,601
|
No it won't work on my MAC either.
|
|
|
|
|
11-19-2016, 05:30 AM
|
#12
|
|
Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 16,667
|
Quote:
Originally Posted by newtoseattle
thank you all for your responses. I've tried to download the calculator before.
on the site it says-
"Note that this Mac version will not work on a Mac running Lion or newer versions of the OS X operating system. We are currently working on producing a new Mac version which will work on newer versions of OS X, but this may take some time."
has anyone gotten it to work on an updated mac?
|
Lion was the 2011 version of the Mac OS, so the SS Mac calculator has been obsolete for five years now.
I have a few other applications that need Windows to run, so I have an old version of Parallels that I use when needed. That's how I ran the "regular" version of AnyPIA.
|
|
|
|
|
11-19-2016, 08:39 AM
|
#13
|
|
Full time employment: Posting here.
Join Date: Jul 2011
Posts: 723
|
Quote:
Originally Posted by newtoseattle
thank you all for your responses. I've tried to download the calculator before.
on the site it says-
"Note that this Mac version will not work on a Mac running Lion or newer versions of the OS X operating system. We are currently working on producing a new Mac version which will work on newer versions of OS X, but this may take some time."
has anyone gotten it to work on an updated mac?
|
Why not just go to the library and use their PCs?
|
|
|
|
|
11-19-2016, 09:42 AM
|
#14
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 5,668
|
I created a spreadsheet which mimics the AnyPIA calculator. Initially, I had trouble getting the AnyPIA program to work, but not because of incompatible operating systems. I was eventually able to get AnyPIA to work and the result was a few pennies difference from my spreadsheet so now all I do is use my spreadsheet and update it for any updates to the wage indexing factors which change a little every year.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
|
|
11-19-2016, 09:50 AM
|
#15
|
|
Moderator Emeritus
Join Date: Sep 2007
Posts: 17,741
|
Quote:
Originally Posted by panacea
Why not just go to the library and use their PCs?
|
If you have to input a SS number to use the calculator, it might not be a good idea to use a public computer.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
|
|
|
|
|
11-19-2016, 12:09 PM
|
#16
|
|
Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Limerick
Posts: 2,827
|
I just went to the SSN.gov website with my MacBook Pro and created an account. No problems at all.
|
|
|
|
|
11-19-2016, 03:46 PM
|
#17
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 10,370
|
The online estimator is very good. You Don't need any login.
you simply input each year of earnings, just watch the order of the year fields as I think they are odd.
Scroll down a bit on the page below and you will see the estimator.
https://www.ssa.gov/planners/retire/AnypiaApplet.html
|
|
|
|
|
11-19-2016, 04:42 PM
|
#18
|
|
Full time employment: Posting here.
Join Date: Jul 2011
Posts: 723
|
Quote:
Originally Posted by Bestwifeever
If you have to input a SS number to use the calculator, it might not be a good idea to use a public computer.
|
oh, well there is that. 
|
|
|
|
|
11-19-2016, 05:57 PM
|
#19
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 27,978
|
Quote:
Originally Posted by Walt34
When I did the online estimator tool for SS I later found that it was very close, within single digits after I started SS. So I suggest just using that one and don't worry about it.
|
Quote:
Originally Posted by REWahoo
Agreed. That estimator was very close to my actual number as well.
|
Quote:
Originally Posted by braumeister
The downloadable AnyPIA calculator's estimate was within pennies of the actual amount I received when I started taking SS.
|
Quote:
Originally Posted by rodi
The online calculator (when you have an account so it's using your numbers) was very accurate for DH. Within $1/month.
|
I downloaded and used their AnyPIA calculator. Now, what I need is a statement from the government certifying that they will not change the rule and reduce that amount when I claim mine. I already entered it into FIRECalc, and am counting on it.
Arghh. In most likelihood, when I get there, they will say "We promise you $xxx, but here's $yyy. The difference is the amount we withhold for the new tax and healthcare deduction". I can't win.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
|
|
|
|
|
11-20-2016, 06:52 AM
|
#20
|
|
Full time employment: Posting here.
Join Date: May 2007
Posts: 690
|
Do it yourself by creating your own spreadsheet. Here are the instructions: https://www.thebalance.com/social-se...-guide-2388927
__________________
"It is better to have a permanent income than to be fascinating". Oscar Wilde
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
