There are tools out there to help people make the most of their Social Security benefits, and millions of Americans collect benefits each month.
Navigating your Social Security benefits can be hard, but there are things out there to help.
Many choose to rely on these benefits in order to survive, so getting the most you can out of them matters.
When you choose to retire can have a direct impact on how much you’ll get each month.
Here are 4 tools to help you with your Social Security benefits
The website for the Social Security Administration
The Social Security Administration website offers plenty of information when it comes to managing or enrolling in benefits.
There are calculators you can use to find out your full retirement age and what your earnings can do to your account.
The website offers a specific calculator that lets you calculate what your benefits might be with their data.
Open Social Security Calculator
This calculator works similarly to the SSA’s calculators, but is more specific.
This one will take into account other details that impact your benefits.
This can include
- average lifespan based on gender
- possible benefit cuts
AARP has their own version of a Social Security benefit calculator as well.
This one will give you information on what living expenses your benefits will cover.
This calculator bases its results on average salaries, so while it can give you a general idea, it is not specific.
This tool costs money to use.
This isn’t a calculator, but instead a planner for your retirement.
It will help you determine your standard of living when it’s time to retire.
The software is specific enough that it includes retirement accounts, mortgage costs, and pensions.
The first year is $109 and following that year it drops to $89 annually.