Retirement can be stressful to plan for, but according to a representative from the Social Security Administration, it is possible to estimate what you will receive in social security at different ages.
Jack Myers with the Social Security Administration appeared as a guest on the NewsTalk WTIM Morning Show. He says there are plenty of helpful tools on the SSA’s website, including a “Retirement Estimator.”
Myers says the Retirement Estimator tool is unique because it projects and uses future earnings to estimate a person’s social security benefits.
Myers says the Retirement Estimator is off in some cases if people choose to retire at a different age than they anticipate. But he says this tool lets you run as many scenarios as you would like to compare what would be best for your financial situation.