Savvy Senior: Social Security Calculators That Can Help You Decide When to File a Claim | Qa
Your first step in getting advice on Social Security claims strategy is to go to SSA.gov/myaccount to get your personalized statement that estimates your retirement benefit amount between age 62 and 70. These estimates are based on your annual income which is also listed. on your report.
Once you get your estimates for you and your wife, there are a number of online social security strategy calculators you can use to compare your options in order to make an informed decision.
The best that is free to use is Open Social Security (OpenSocialSecurity.com), which runs the calculations for every possible claim age (or, if you’re married, every possible combination of claim ages) and reports, telling you which strategy should provide the most dollars spent in your lifetime.
But if you want a more in-depth analysis, consider paid calculators, such as Maximize My Social Security (MaximizeMySocialSecurity.com) or Social Security Solutions (SocialSecuritySolutions.com). These two tools, which are especially useful for married couples as well as those who are divorced or widowed, will run what-if scenarios based on your situation and show how different deposit strategies affect total payment over the same time period.