How to Calculate Income Based on Social Security Payments

by Valencia Higuera

If you're approaching retirement, you'll likely be interested in calculating how much income you'll receive monthly from Social Security. A percentage of an American's retirement income comes from Social Security benefits, and the amount an individual receives monthly often determines whether the person can afford to retire. The Social Security Administration has an online calculator to help you estimate your monthly Social Security payments.

1. Go to the Social Security Administration's website and use its benefit's calculator.

2. Enter your birth date in the appropriate field.

3. List the age that you plan to retire in the next field. Include the number in years and months. For example: 62 years and 10 months.

4. Calculate your Social Security income in today's dollars if you're retiring in the near future, or choose to calculate your income in future inflated dollars if you're estimating your retirement benefit years down the road.

5. Refer to old tax returns or W-2 statements and enter your earnings for each year that you've worked in the available fields.

6. Estimate your earnings for the present year, as well as for the next tax year.

7. Press the "Calculate Benefit" button to compute your monthly Social Security retirement benefit. This calculator also provides information on eligible disability and survivor benefits.


  • If you do not have Internet access or need to speak with the Social Security Administration office directly, call toll-free at 1-800-772-1213.

About the Author

I have been a freelance writer, copy editor and professional blogger for more than seven years, and I hold a B.A in English/Journalism from Old Dominion University. Published credits include online and print media.{{}}

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