Social Security Income

If you are interested in estimating your Social Security income before you retire, just adhere to the following directions:

• Contact the Social Security Administration via the phone or Web at 1-800-772-1213 or www.ssa.gov, respectively.

• Obtain and submit Form SSA-7004, which requires standard personal and past and anticipated earnings information.

• Wait for the Personal Earnings and Benefit Estimate Statement to arrive in the mail.

What to Expect on the Personal Earnings and Benefit Estimate Statement
This form will provide

1. Your personal records;

2. An estimated future monthly income based on your a) planned retirement date and b) full (age 70) retirement date;

3. An estimate for survivor's benefits, which your children and spouse can collect until 18 years of age and beginning at 65 years of age, respectively;

4. An estimate of disability benefits (which accounts for the income allocated for children under the age of 18) for an injury or illness lasting at least one year or for a terminal illness; and

5. Earnings statements that span each year of employment meant for your review and possible corrections.

This information is presented to educate the reader and does not constitute professional tax and legal advice.

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