Calculator to compare social security payout options including assumption of 21% benefit reduction in 2034?

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Topic Author
Muri
Posts: 107
Joined: Mon Jul 31, 2017 8:00 am

Calculator to compare social security payout options including assumption of 21% benefit reduction in 2034?

Post by Muri »

I received an estimated benefits statement from Social Security today. In bold letters it states:
The law governing benefits amounts may change, because by 2034 the payroll taxes collected will be enough to pay only 79 percent of the scheduled benefits.
I am planning on delaying benefits until age 70 (2029). Is there a calculator that can compare my options for collecting earlier vs. age 70 assuming a reduction in benefits starts in 2034?
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galeno
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Re: Calculator to compare social security payout options including assumption of 21% benefit reduction in 2034?

Post by galeno »

https://opensocialsecurity.com/

Check the "advanced" box. Have fun.
KISS & STC.
Topic Author
Muri
Posts: 107
Joined: Mon Jul 31, 2017 8:00 am

Re: Calculator to compare social security payout options including assumption of 21% benefit reduction in 2034?

Post by Muri »

This was exactly what I wanted. Thank you!
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JoeRetire
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Joined: Tue Jan 16, 2018 1:44 pm

Re: Calculator to compare social security payout options including assumption of 21% benefit reduction in 2034?

Post by JoeRetire »

https://maximizemysocialsecurity.com/ lets you enter both a reduction percent and a starting year for whenever you believe that benefits will be reduced.
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