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Wonder how much you might receive in Social Security? Use this calculator to help you estimate your Social Security benefits. Remember, this is only an estimate. Your actual benefits may vary depending on your actual work history and income.
Definitions
- Social Security income
- Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire. Social Security benefits can automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits up to, but not over, the maximum. This calculator provides only an estimate of your benefits. Your actual benefit may be higher or lower depending on your work history and the complete compensation rules used by Social Security.
- Current age
- Your current age.
- Age of retirement
- Age you desire to retire.
- Household income
- Your total household income. If you are married, this should include your spouse's income.
- Expected salary increase
- Annual percent increase you expect in your household income.
- Are you married?
- Check this box if you are married. Married couples have a higher maximum Social Security benefit than single wage earners.
- Expected rate of inflation
- What you expect for the average long-term inflation rate. This has been calculated by the Consumer Price Index from 1925 to 2002 to be 3.1%.
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