retirement / retirement calculator / retirement planning; retirement; saving; Social Security

Calculators to help you decide when to claim Social Security retirement benefits

 “One of the most important retirement decisions you will make is when to apply for Social Security. Several retirement calculators have been developed to help you determine the optimal retirement age to start Social Security payments.” (Thanks to Emily Brandon writing for US News and World Report).

Here are 10 Social Security calculators worth trying:

“These calculators can help you begin thinking about what you can do to maximize the amount you will receive from Social Security in retirement.” 

Take note! “When out to maximize the benefits that both spouses collect, that’s different than maximizing when each person claims their own benefit,” says Wei-Yin Hu, vice president of financial research at Financial Engines. “It turns out to be quite important to look at both spouses in a household together, because there are some interesting interactions about when the two should claim benefits in terms of both spousal benefits and survivors benefits playing a role in the picture.”

Read the full article for more information about these calculators: https://money.usnews.com/money/retirement/social-security/articles/social-security-calculators-that-can-help-you-decide-when-to-claim

Source: Financial Planning for Women