Your Social Security benefit also depends on how old you are when you first take it. You can get your earnings history from the Social Security Administration (SSA). Your monthly retirement benefit depends on how much you’ve earned over your lifetime at jobs for which you paid Social Security taxes and is based on the highest 35 years of your salary history. Your retirement benefit is based on how much you’ve earned over your lifetime at jobs for which you paid Social Security taxes. Our simplified estimate is based on two main data points: your age and average earnings. How does the calculator estimate my retirement benefits payment? It can also tell you how your retirement earnings will be affected if you keep working after you claim your Social Security benefit. Our tool also helps you see what percentage of daily expenses your payments can cover, and how you can increase your benefits by waiting to collect. The calculator provides an estimate of your Social Security benefits, based on your earnings history and age. What does AARP’s Social Security Calculator do?
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