How to Predict Your Social Security Payout

Reader Comments
Back to article

it is great to work longer for better benefits but when you work in a job where it is physically demanding and cant do it any longer you dont have a choice. besides we dont live forever and after working 47 years i think it is time.

don distasio of CT 9:25AM April 14, 2012

I WILL BE 68 IN SEPT. MY HUSBAND IS ALREADY 70 YEARS OLD. I AM DRAWING MY OWN SS .AND WE WERE WONDERING IF I COULD DRAW OFF OF HIS SS NOW. WHICH WOULD MAKE ME DRAW MORE MONEY. I HAD READ SOME WHERE THAT A WIFE COULD DRAW OFF OF HER HUSBANDS SS. IS THIS A FACT. PLEASE CHECK ON THIS FOR US . I DONT DRAW FROM MINE BUT $877. MONTH AND HE DRAWS JUST OVER $1100 MONTH

MARY ROBINSON of NC 12:41PM April 13, 2012

i want to retire december 2012 i have work for 10years completed 10 years working how much i get retired benifits

kirit desai of TX 10:01AM April 08, 2012

And now, because I was a teacher in Calif. (state employee ) My SS is reduced...I don't understand this. I see the Louisiana teachers asc. had info on this issue. It doesn't make sense to me...i worked for and earned it but they will take half away...?

jim of CA 9:46PM April 07, 2012

I am a retired military collecting $1630 a month. How much will I lose in SS benefits if I start collecting SS at age 64?

michael blanchard of NM 12:10PM April 07, 2012

And what is really interesting to me is that I read where there are those in the present administration that call Social Security that we have paid into our entire working lives, an entitlement. The wording is troublesome. It sounds like they are going to try to put a guilt complex on those that draw on Social Security despite paying into the system under the premise that it would be there upon retirement that now they are attempting to have us delay until we are close to our demise.

Allan of AZ 2:03AM April 05, 2012

I understand that my benefits will increase 8% more each year after I reach my full retirement age, if I don't collect. What is the percentage my benefits would increase each year from age 62 to full retirement age, if I don't collect?

Joe Frankiewicz of VT 9:45PM April 04, 2012

Paper statements please. Waiting for the webpage is a joke. Waiting on the phone is worse. SEND THE STATEMENTS IN THE MAIL. REMEMBER HOW THAT WORKS????

fedup of MD 2:22PM April 04, 2012

Interesting tidbit to consider.. Deferring your SS from 62 to 70, you take at least two chances. 1) You will live until 70, and 2) You will live past the break-even age. I did a hypothetical based on the numbers above and someone making $6,000/month and retiring at 62 and another deferring until 70. My numbers come out that you have to live beyond age 78 to really start gleaning the benefit of the deferring option. My calculation shows $6,000 (using the 90/32/15 rules above) will glean you about $2,100/mo. Deferring until 70 makes it about $4,200/mo. Although the deferral number looks good, if you were unfortunate enough to pass away at age 70, and you were the person defferring until age 70, you would have gotten nothing and the person who started at 62 would have gotten over $200,000. (Side note.. This does not take into account earnings on your personal investments that you now don't need to use because of the new income source - Which brings breakeven to age 80 or 81). So my question is.. "Do you feel lucky...huh.. Do ya..?" Remember, you can --only-- pass on what you have collected. The Government keeps the rest.

John Yowell of PA 8:47PM April 02, 2012

For a good laugh, just TRY to get on SS website to view your benefits. It hasn't worked in six months. Then, CALL SS to get your benefits explained by a person. First wait 45 minutes on hold, press all the buttons the computer asks you for, and have fun! And when you ask when their website will be working, they'll tell you they expect to have it working THIS YEAR. How about simply bringing back the paper statements? Send them to everyone 55 and above if you want to save a few trees, but DO SOMETHING besides just make excuses as to why nothing works anymore. The only thing government seems to be good at is padding their own pockets. SEND OUT THE STATEMENTS.

radiocity of NY 9:29AM February 21, 2012