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How to Tally Your Social Security Benefits

How to Tally Your Social Security Benefits

May 11, 2021

In an effort to save money, the Social Security Administration (SSA) stopped mailing annual statements nearly a decade ago. The yearly statements were helpful, as they helped workers estimate their Social Security benefits.


Despite this lack of formal reporting, the SSA offers an online option, Retirement Calculator, where you can estimate your Social Security benefits. You can access the tool at


The Retirement Calculator provides you with an approximate snapshot of your monthly retirement benefit based on your official Social Security earnings. It reveals early (age 62), full (ages 65-67) and delayed (age 70) earnings, allowing you to tinker with prospective scenarios and review the impact on your benefits.


If you intend for Social Security to play a role in your retirement income, it will be helpful for you to consult the online calculator at least annually to gauge if your savings align with your retirement goals.


Keep in mind that Social Security benefits do not automatically increase each year, but do so to align with an increase in inflation.