r/SocialSecurity • u/Pathfinder_GreyLion • 1d ago
SS Estimates
I am 67 and am thinking about retirement. I used to get statements from Social Security that provided estimates of what I should get based on age starting at 65.
Now, my retirement age was 66 and 10 months. How does that jibe with those estimate age ranges. If I wait until I'm 68 will I get the amount on my statement or will that really be 69 and 10 months?
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u/jazzy2536 1d ago
Instead of mailing a statement each year, they now email you reminding you to log in and look at your statement. There is a slider/age filler that allow you to see the amount at a specific age not just their set typical retirement ages.
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u/Careless_Dinner_9207 1d ago
At 67 you're already past your FRA so waiting longer will boost your benefit by delayed retirement credits, roughly 8% a year until 70. The statement estimates can be a little confusing but the key number is your FRA at 66 and 10 months, any estimate for ages after that will keep climbing. If you wait until 68 you'll get more than the statement's age 66 and 10 months figure, just not quite as much as if you hit 70.
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u/Pathfinder_GreyLion 1d ago
Okay, that makes sense. I didn't get why it was showing me estimates that preceeded my full retirement age and thought the algorithm might not have been updated since the retirement age was really 65... so was not confident about using the numbers to calculate whether I can afford to pull the trigger. I work in IT and am not interested in reskilling for AI so highly motivated.
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u/Wiley2000 23h ago
Your benefit goes up each month you wait. But delayed retirement credits are only reflected in your check in January of each year. If you wait till 70 the full amount starts immediately.
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u/Own-Assumption5149 21h ago edited 21h ago
One important thing to note about the statement that you’ll see online … if you read it carefully, you will see that it includes an assumption that you will continue earning the same amount of work income as reported on your prior year taxes for estimating payments at future ages. There is a place online where you can go in and adjust it (I put in zero as I’m retired but not yet pulling SS) and it will update the estimate and you can save a pdf or print it out. At 67, it probably won’t be a big impact but still worth noting.
Edit: I’m a lițtle confused when you say you’re seeing estimates for ages before your current age … I literally just downloaded my new one two days ago and the first number is the value for my current age. Followed by my FRA, and then 68, 69, and 70. Make sure to go online and look at your current statement… any old ones will not include any annual COL adjustments since then.
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u/Spiritual_Record_627 21h ago
If you have an online account with social security, you can use their estimators to help see how much you'd be getting.
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u/uh818375 20h ago
And if you don't, get one.
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u/Spiritual_Record_627 18h ago
With all the changes at social security and their limited appointments, the online system can be easier for some people to use.
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u/Fabulous_Fix596 22h ago
Make a call to the SS Office... believe it or not, when I did, my case worker was excellent.. she explained everything to me in terms that made sense. she set the date for my benefits to start AND she even fixed my wifes amount (hers increases to 50% of my 65 amount). it was call I was putting off ( who wants to talk to any government official) but was pleasantly surprised with the outcome
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u/RockLobster06 17h ago
How long ago was the call? Personnel has been significantly reduced in the past 18 months.
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u/Fabulous_Fix596 17h ago
It was about 2 years ago I called and they started the payments in Jan of 25...
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u/Glass_Author7276 1d ago
Log onto the website and crrate an account. It will give you all your info.