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How do you find out what your Social Security income will be?

Writer Emily Baldwin

How can I get a Social Security Statement that shows a record of my earnings and an estimate of my future benefits? You can get your personal Social Security Statement online by using your my Social Security account. If you don’t yet have an account, you can easily create one.

How do I get a statement of my Social Security benefits?

How can I get a form SSA-1099/1042S, Social Security Benefit Statement?

  1. Using your online my Social Security account.
  2. Calling us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday, 8:00 am – 7:00 pm; or.
  3. Contacting your local Social Security office.

How to figure out your Social Security benefit amount?

1 Use your earnings history to calculate your Average Indexed Monthly Earnings (AIME). 2 Use your AIME to calculate your Primary Insurance Amount (PIA). 3 Use your PIA and adjust it for the age you will begin benefits. 1 

How does the Social Security retirement estimator work?

The Retirement Estimator gives estimates based on your actual Social Security earnings record. Please keep in mind that these are just estimates. Estimate Your Retirement Benefits. We can’t provide your actual benefit amount until you apply for benefits. And that amount may differ from the estimates provided because:

How does your income affect your Social Security benefits?

A final basic concept that will affect your benefit is that, in principle, the more money you earn during your working years, the higher your benefit will be. There are limits to how high it can go, however, because wages above the ceiling aren’t subject to Social Security tax and aren’t counted in your benefit calculation.

How is the inflation rate calculated for Social Security?

However, you could attribute an assumed inflation rate to average wages to estimate the average wages going forward and use those to create an estimate. The Social Security benefits calculation uses your highest 35 years of earnings to calculate your average monthly earnings.