Q: I just finished reading your article How Much Do I Need in Savings If I Want $X Per Year in Retirement and Not Run Out of Money? and have a question.
I am a federal law enforcement officer. I will be retiring at age 55. I am mandatory at age 57. Whenever I request my Social Security Statement, it estimates what I would receive at different ages, assuming that I am continuously working.
How do I figure out what I will actually receive in Social Security benefits if I retire at age 55?
A: Social Security has a tool for this. Go here: https://www.ssa.gov/retire/estimator.html and scroll towards the bottom to the blue button.
Type in your personal info and it should be able to find your account, assuming you have created an account with them.
At first, it will give you the standard ages for retirement and what benefit you would receive; but it assumes you continuously work until that age.
You can select a different age you stop working, and then it will pop up with the new benefit you would receive for early retirement (62), your standard retirement and at age 70. I just did it and it gave me my estimated retirement. Good luck!
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