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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: firelight on July 11, 2016, 01:15:29 PM

Title: Any social security calculator for Mustachians?
Post by: firelight on July 11, 2016, 01:15:29 PM

Hi,
I'm getting close to 10 years of working (40 credits needed to be eligible for SS). I'm curious what my benefits will be if I stopped working once the 10 years is complete. All the calculators assume that I'll continue to earn the same amount I do now to estimate how much I'll get at age 67. I couldn't find any calculator that assumes earnings at 0 (or varied at different years) and still give the estimated benefits. Does anyone know of such calculators?

PS: I do know SS might not be around when I retire, but I'm curious to see how much its worth after so long.

Title: Re: Any social security calculator for Mustachians?
Post by: forummm on July 11, 2016, 01:27:48 PM

If you have 40 credits you can use this one. Enter in your actual earnings history, then enter 0 for 2017.

https://www.ssa.gov/planners/retire/AnypiaApplet.html

If you don't have 40 credits (say 36), then you can fake it by putting your salary in for the most recent 0 year (9 or 10 years ago). It will be a reasonable approximation (slightly overestimating since there's been some inflation in the last 10 years).

Title: Re: Any social security calculator for Mustachians?
Post by: ZiziPB on July 11, 2016, 01:35:42 PM

This article and the spreadsheet in it are very useful.

https://thefinancebuff.com/early-retirement-social-security-benefits.html