Calculate the Amount of Your Social Security Disability or Retirement Benefit

Recently Social Security decided to stop mailing out annual statements with information about benefits. There is an online source, easy to use, that will give you the amount of your retirement benefit, which is usually identical to the amount you would get if you became disabled. Check this article and follow the link to the site:

“As President Obama and congressional leaders continue to fight over how to reduce the federal deficit, people are rightly concerned about what they can expect to get from Social Security. Right now, you can take an early payout at 62, but you get a reduced monthly amount. If you wait until your full retirement age, you get more in your monthly benefit. Wait even later, until you’re 70 when you qualify for the maximum payout, and the monthly check is even higher.

“More than half of those claiming retired worker-benefits in 2009 elected to receive them as soon as they turned 62, according to AARP.

“The budget talks have certainly made what was always a complicated decision even harder. People are increasingly asking if they should claim their Social Security as early as possible, fearing future payouts won’t be what was promised.

“But since we can only deal with the now, let me suggest you try a new online calculator ( created by AARP. It helps estimate your benefits and then shows you the best time to claim Social Security.

“Right from the start, AARP says it pays to wait. But there are situations where it’s wiser to collect early. You’ll have to enter some personal information to find out which category is best for you.”

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