Quickbooks, Bookkeeping and Accounting Blog

The Social Security Administration just added an easy to use retirement estimator to its website. The retirement estimator makes it easy to obtain an estimate of the monthly benefit you will receive when you retire. You simply input your name, social security number, and date and place of birth, and then input last years earnings (prior years earnings come from the Social Security database).

This retirement calculator replaces a tool the Social Security Administration used to offer which required users to input their own earnings history, which was time consuming and difficult for those people that don’t keep extensive records. Those people that want to estimate their retirement benefits based on different retirement ages and earnings scenarios can easily do so with this retirement calculator by clicking on Create Additional Scenarios after getting the initial estimates.

The new retirement estimator is available on the Social Security Administration’s website at http://www.ssa.gov/estimator/.