USA Social Security Calculator
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2024 wage base limit: $168,600
FRA depends on birth year (66-67): 67
Need 40 credits (10 years) to qualify for benefits
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Enter your income and age details on the left to see your estimated Social Security benefits and retirement options.
What is Social Security?
Social Security is the US federal retirement system providing monthly benefits to retirees, disabled workers, and survivors.
How Benefits Are Calculated
Benefits are based on your highest 35 years of earnings, adjusted for inflation, using a progressive benefit formula with bend points.
Work Credits
You need 40 work credits (10 years) to qualify for Social Security retirement benefits.
Full Retirement Age (FRA)
FRA varies by birth year: age 66 for those born 1943-1954, gradually increasing to age 67 for those born 1960 or later.
| Birth Year | Full Retirement Age |
|---|---|
| 1943-1954 | 66 |
| 1955-1959 | 66 and 2-10 months |
| 1960 or later | 67 |
Frequently Asked Questions
When should I claim Social Security benefits?
The optimal claiming age depends on your health, financial needs, and life expectancy. Claiming at 62 gives you benefits sooner but permanently reduced by up to 30%. Waiting until 70 maximizes your monthly benefit with an 8% annual increase after FRA.
Are Social Security benefits taxed?
Yes, up to 85% of your Social Security benefits may be taxable depending on your combined income. Single filers with combined income over $25,000 or joint filers over $32,000 may pay taxes on benefits.
Can I work while receiving Social Security?
Yes, but if you're under full retirement age, your benefits may be temporarily reduced if you earn above certain limits ($22,320 in 2024). Once you reach FRA, you can earn any amount without reduction.