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The subject of Social Security benefits only seems to get increasingly muddled as the years go on. Finding out what you may or may not be eligible for seems to be more confusing as well. Luckily, calculating your benefits has gotten easier.
To get a rough estimate of how much you will receive, you have many tools at your disposal. Instead of counting on your Social Security statements, there are more efficient ways of going about calculating your estimate.
With technology, comes the internet, with the internet, comes online calculators that you can utilize for calculating your social security benefits. You can go to this Social Security page to find your basic information online through a sign up process. However, they do not account for inflation, so a rough estimate is what you will get at best, but still, isn't it better than going through a pile of yellowed Social Security statements?
You also have a number of online and downloadable calculators at your disposal. These calculators can give you a quick look at your future benefits. In the calculators section of the SS site, you can gain access to each calculator. The power of these calculators are even further compounded if you employ more than two estimates at the same time. This will help you employ a comparison of different retirement options at the same time: early vs. late retirement and full-time work until retirement - and those are just two options which can be calculated with these tools.
In the age of confusing information, we must fight back. Knowledge is half the battle, so we must equip ourselves with the best weapons possible. These calculators should be a standby in everyone's kit.