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Social Security Calculator

Which age is the most profitable to start your Social Security benefits

Which age is the most profitable to start your Social Security benefits

Social Security Calculator

by Denton Kollar
Social Security Calculator
Social Security Calculator
Social Security Calculator

What is it about?

Which age is the most profitable to start your Social Security benefits? Age 62 with reduced benefits? Full retirement age? Age 70 for maximum increased benefits? What if you invest your benefits and receive compounding interest?

Social Security Calculator

App Details

Version
1.0.1
Rating
NA
Size
10Mb
Genre
Finance Utilities
Last updated
February 5, 2019
Release date
January 30, 2019
More info

App Screenshots

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App Store Description

Which age is the most profitable to start your Social Security benefits? Age 62 with reduced benefits? Full retirement age? Age 70 for maximum increased benefits? What if you invest your benefits and receive compounding interest?

The Social Security Calculator is a powerful estimating tool that can answer these questions and help you plan for retirement.

[ Features ]

• Estimates your most profitable starting ages based on your benefits and life expectancy

• Your date of birth and benefits at full retirement age are all you need to know (benefits at FRA can be found on your Social Security statement or by creating an account on SSA.gov)

• Optionally include other monthly income, an interest rate for income, monthly expenses, and an interest rate for expenses

• Optionally disable paying down expenses (potentially useful in situations when compounding income exceeds compounding expenses)

• Detailed results are presented as an interactive Summary, Spreadsheet, and Graph

• Calculation inputs can be labeled and saved for quick retrieval and comparison

• Robust in-app help via information buttons, getting started guide, glossary, and links to additional resources

[ Interactive Results ]

• Summary - a table of life expectancy ages with their most profitable starting ages for benefits. Rows can be expanded to show your estimated lifetime net income for every life expectancy age. The lifetime net income rows can be tapped to highlight the corresponding cell in the Spreadsheet.

• Spreadsheet - detailed spreadsheet format showing your estimated lifetime net income for all Social Security starting ages and life expectancy ages. Each lifetime net income cell can be tapped to show more detailed information.

• Graph - calculation results displayed as lines depicting estimated lifetime net income for each Social Security starting age. Any starting age line can be toggled on or off. Tapping a point on the graph will display more detailed information. The graph can be zoomed and panned.

[ Disclaimer ]

We have carefully followed the benefit rules from the Social Security Administration and have tested to ensure that our calculations are as accurate as possible. However, since we are not affiliated with the SSA, this app is only intended to be used for reference. Before making a retirement decision we strongly recommend reviewing SSA.gov and other resources for more information.

Also please be aware that this app currently does not calculate spousal benefits or survivor benefits. If you would like us to add functionality for either of these please let us know.

Disclaimer:
AppAdvice does not own this application and only provides images and links contained in the iTunes Search API, to help our users find the best apps to download. If you are the developer of this app and would like your information removed, please send a request to [email protected] and your information will be removed.