Social Security

Our clients often ask us if they should take their Social Security benefits at an early age or wait until their full retirement age.  While each set of circumstances and situation are unique, we can determine how long it will take to recapture benefits "left on the table" and the age at which this occurs.

Instructions

  1. In the white block under the header "Social Security Now" enter your current age.
  2. On line #1 enter the monthly benefit for your current age, your benefit at age 66 and your benefit at age 70.
  3. Line #2 will calculate your total monthly gross payment.
  4. Line #3 will calculate years til you turn 66.
  5. Line #4 will calculate years til you turn 70
  6. Line #5 will calculate the total social security you will collect until age 66 and 70.
  7. Line #6 will calculate the # of months til you break even.
  8. Line #7 will determine the age when you will begin to receive extra social security benefits.

 

Click on the link below to download our social security calculator.

EG Tax Social Security Calculator