Social Security retirement payouts boost your savings, investments, and pensions. However, if these monthly benefits are your primary source of income as a retiree, you should look into ways to increase your future checks or direct deposits. For example, filing for benefits at the age of 70 allows you to collect delayed credits.
In this approach, you will receive an additional 24%. But how can you get an estimate of your future Social Security payments? The good news is that you can do it for free and online too.
Get your Social Security estimate payment
In a recent post, the Social Security Administration reminded workers approaching retirement age to inquire about their benefits estimate. All you have to do is use the SSA’s tool at https://www.ssa.gov/prepare/get-benefits-estimate?utm_source=x&utm_medium=social&utm_campaign=smt-retirement-25&utm_content=awareness
Remember that you will need to log in to your my Social Security account. So, after signing in, you’ll be able to check it. Furthermore, it will not be limited to retirement.
You may, for example, get an estimate for SSDI payments if you have a qualifying disability and enough work credits. The good news is that you can get estimates based on when you apply for retirement. Adjusting predicted future income allows you to evaluate how it will effect your benefits.
Download a Social Security Statement
Another simple approach to obtain a wealth of information on potential monthly payments in retirement is to download a Social Security Statement. Once again, this is a free tool.
This Social Security Statement provides personalized monthly retirement benefit estimates for ages 62 to 70. Then you can compare them to choose which age best suits you.
Aside from retirement, you will receive information on disability benefits, Medicare, survivor benefits, and your earnings history. Contact us as soon as possible to learn more about your upcoming retirement checks.
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