Posts Tagged ‘Security Benefit’
How do you understand a Social Security Benefits estimate letter from government?
rrsafety asked:
I am 42 years old and just got my yearly benefits estimate from Social Security. They estimate my benefit to be about $2000 a month when I retire… is that factoring in inflation or not, or should I assume that amount is likely to grow 2-3% higher per year over the next 23 years.
Also, if my spouse is also eligible for benefits, do we just add our two estimated benefits together or do they reduce one of them when both spouses are receiving benefits?
Gregory
I am 42 years old and just got my yearly benefits estimate from Social Security. They estimate my benefit to be about $2000 a month when I retire… is that factoring in inflation or not, or should I assume that amount is likely to grow 2-3% higher per year over the next 23 years.
Also, if my spouse is also eligible for benefits, do we just add our two estimated benefits together or do they reduce one of them when both spouses are receiving benefits?
Gregory
