|
Here's what a genuinely useful Saturday morning looks like for someone who's 58, or 63, or just hasn't thought seriously about Social Security timing yet.
Open your browser — not an app — and go to ssa.gov/myaccount.
Log in. Or create an account if you've never done it. It takes about five minutes the first time. You'll need your Social Security number, date of birth, and a way to verify your identity.
A few minutes later, you're looking at your Social Security statement.
And there, on a single page, are three numbers you've probably never seen side by side before.
Your estimated monthly benefit at 62. At your full retirement age. At 70.
For the average person reading this, those numbers might look something like: $1,450 at 62. $2,071 at full retirement age. $2,568 at 70.
That spread — $1,450 to $2,568 — is a difference of $1,118 a month. Every month. For the rest of your life.
Over 20 years of retirement, that gap adds up to more than $268,000.
And that's based on the average benefit. Your numbers might be larger. The gap between claiming early and waiting almost always is significant.
There's something else on that statement most people miss entirely. Your earnings history. Every year you worked. The wages reported to the SSA. If a year is missing — or an amount looks wrong — that error is quietly pulling your benefit estimate down right now.
Most people never look.
|
