How Do You Calculate Estimated Social Security Benefits?
Social Security benefits are paid out to those contributing to the Social Security program over their lifetime. The funds are meant to be a source of income for retirement. They can also be used as survivor benefits (for children or spouses of those who die) as well as disability benefits. Calculate the estimated Social Security benefits you will have at retirement using these methods. Read your Social Security Statement, sent by the Social Security Administration yearly. It shows you how much money you have put into the system, how much you would get if you were disabled (or stopped working) and estimates benefits at retirement if you continue making money the way you currently are. Visit the Social Security Administration website to request a statement. Gather your specific information including your past wages and use the detailed online estimation calculator supplied by the Social Security Administration on their website. This updated tool gives you an accurate look at your current
