what is the maximum social security retirement benefit?

Find a SS benefit calculator on the web - the SS site itself has one I believe.

Enter 62 for your current age and the 70K or whatever as your income for the past most recent years - 5 in the case of your question, and your actual earnings in order after that for the previous years.

The result should/will be a fairly accurate benefit estimate - it will represent equivalent present and future value assuming your incomes will more or less track inflation as do SS benefits.

A rule of thumb is that the lowest maximum SS benefit will be approximately 18% of pre-retirement income for retirement at age 62 for an individual with max credits and earning at, over, or near the ceiling of SS taxes - approx 100K/year. Maximum SS benefit as a percentage of prior earnings increases as prior earnings decreases.

Check <http://www.fairmark.com/retirement/socsec/%3E for more details.

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Legal Gardinaship child entitle to Social security benefits under mind benefits

if I plan to retire at age 65 what would my social security benefit be

If I retire at 63 but continue work and make $70,000 per year until maximum retirement age will it increase my full retirement amount.

If I retire at 66 what are my benefits?

Social Security Disability Guide - http://disabilityhelp.siopu.com/?oQR

Marilyn Ross

To get the utmost, you may artwork till you're 70 (or a minimum of do no longer draw till you're 70) and artwork a minimum of 35 years (your SS income is predicated upon your customary income for 35 years - in case you do no longer artwork 35 years of creditable service, you start to amass 0's which drags down your customary earning). appropriate now, the utmost income for a individual retiring at customary retirement age (approximately sixty seven) is slightly over $2,500 in line with month ($30,000 in line with 3 hundred and sixty 5 days). although, in case you have been to proceed to artwork till you have been 70, that would upload one extra 6% on on your SS income, for one extra $a million,800/3 hundred and sixty 5 days bringing your income as much as approximately $31,800 in line with annum. undergo in ideas, although, this information is for 2012 purely. Social protection recipients get carry of a cost of residing Adjustment in line with annum so those quantities will pass up over the years. To qualify for a spousal income, of course the companion could qualify for SS and the marriage could have lasted 10 years or longer. does not count in case you're husband or spouse. Th espouse gets to decide for no count if to take their income or the companion's income (of course whichever is greater). To qualify for SS, a individual could artwork 40 quarters (do no longer could be consecutive). to determine that 1 / 4 to be creditable, the guy could earn $a million,one hundred thirty in that quarter (it incredibly is 2012 documents - this additionally transformations in line with annum). And as stated, to circumvent getting penalized, you may artwork the equivalent of 35 years. Your income is predicated upon your income, as a fashion to max out your income, you may earn as much as available in each quarter (specific, in some unspecified time interior the destiny, earning extra does not get you extra reward).

Glenda reed

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