6 Social Security 2018 Tools To Get Your SS Estimations


You might behave several plans for you’re after retirement life and for a good and happy old day, it is important that you sign up for your social security benefits. To get an idea you can use the different tools like SS calculators. There are different retirements calculators that have been designed to aid the people to get their estimations. These tools definitely provide varying results for the similar searches. This happens due to the minor underlying assumptions. However, these calculators are being used over by the majority of the people to get the estimation after which they can carry on with the steps that will help them in maximizing the social security benefits. Here are the 6 calculators explained that will help you.

social-security-2018-tools-to-get-estimation

1. Social Security Benefits Calculator

AARP SS calculator allows you to input earnings of both you and your spouse at the same time after which you can compare the ages for retirement expenses that is possible. This is a user-friendly calculator that is having an interactive slider. It tells you about the claiming age impact, expenses estimation for few living expenses. It also shows how much benefit will be covered. It is like a graph that shows about benefits in case you are still working and the claim both at the same time.

2. Target Your Retirement

This is one precise Social security benefit tool that you get over the web by the center for retirement research  Boston. The tool automatically takes all the information related to your account from SS, pensions, retirement and gives you a complete estimation of the total income for retirement. This tool also suggests you about lifestyle changes which one can make to change retirement expenses and income, including dowsing home, working for longer periods, taking a reverse mortgage. It also finds several other ways that can reduce your retirement cost.  People will definitely find it difficult to plan for the retirement income and expenses without considering how much they are going to need and what they are going to receive from the other sources. There are interactive charts that help you in deterring emergency factors such as the death of your spouse, stock market drop etc. This tool will let you know how You Can Increase Your SS Benefits And What Affects Your Perks.

3. Planning For Retirement

The consumer financial protection bureau's tool provides people with an of their annual or monthly payments at different SS claiming ages based on the birth dates and highest annual income one has earned. There is one interactive graph that shows how claiming your SS benefits at the age 62-70 decreases or increases your annual or monthly payments and also the lifetime figure that one will receive at the age of 85. This tool also lets you have access to some personalized information such as marital status role, spending expectations, desired retirement, other retirement sources etc. These are the factors that can play a vital role when you are in the position of taking SS claiming decisions. These tools not using your real earning amount, so the figure is going to be less accurate.

4. Retirement Estimator

The social security administration's retirement tool is the only one that utilizes SS earning data to provide estimation for 3 claiming ages which are 62, the full age for retirement and 70. This is the estimation you can rely on because it is likely to be more accurate than any other tools on the list. It is going to be accurate for all those who are close to their retirement and having a long working history. You can use this tool, adjust future expenses and select the alternate ages to the age you will stop working and after that observe how the amount is changed. This calculator does not take spouse advantages into account or create any recommendations. This tool needs some of your personal data like SS number. If you have plenty of credits that make you qualify for the SS benefits only then you can use this calculator.

5. Social Security Retirement Calculator

 This tool is designed by the financial engines a financial service organization that provides claiming strategies for the couples, survivors, and spousal payments. The tool also points out to the best claiming age when you will be able to maximize your benefits. There are spousal changing rules and automatically these rules apply based on the birth date.

6. Social Security Calculator

The tool is designed by Bankrate’s and is a tool and easy to use tool that provides an instant estimation of your future SS benefits. You can also create a customized SS benefits report that will have an explanation about your annual and monthly payouts at different claiming age. How you compare this income, compare to the final working year. This tool is best for the married couples and also individuals where just one person is earning. You will have to complete your calculations twice if each of the spouses is claiming for the SS benefits based upon their own individual working record.  It also rounds the full retirement age to the nearest year, even if the individuals were born in the similar years and having specific retirement ages such as 66 years and 6 months, which will likely provide a slightly less estimation accuracy.

These are the 6 social security calculators, which are easily available on the web and can be accessed anytime. These are reliable tools; however, none of them can provide an accurate estimation. There are several factors that are responsible for the fluctuation of your estimations like delayed retirement, fluctuating income, infatuation, deduction of Medicare, legislative changes etc. These tools can give you a perspective to get ahead when you are planning to claim for your social security benefits.  using these reliable tools will let you have a closed estimation and idea how things can positively and negatively affect your Social Security benefits.  To get estimations to make sure to fill accurate information using your SS accounts.