Are you wondering how much you will receive from Social Security when you retire?
It depends on how much you’ve earned and how long you have worked under the Social Security system. Your retirement benefit will be based on your average lifetime earnings. Don't worry if you started out as a busboy and worked your way up to executive chef—only your highest 35 years of earnings will count.
The amount you receive will also be affected by whether you start collecting benefits early (you'll get less), whether you collect benefits late (you'll get more), whether you work after you retire, whether other family members receive benefits based on your earnings record, whether you collect certain other government benefits, and whether the cost of living rises.
The calculators listed below may provide you with general information.
You may also use the resources available through the Social Security website at www.ssa.gov to estimate your retirement benefit online based on your actual earnings record.
You can also sign up for a my Social Security account so that you can view your online Social Security Statement. Your statement contains a detailed record of your earnings, as well as estimates of retirement, survivor's, and disability benefits. It also includes other information about Social Security that will be very useful when planning for retirement.
Contact a VyStar Investment Services Financial Advisor today by phone (904) 908-2495 or email VISMarketing@vystarcu.org.
Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. VyStar Credit Union and VyStar Investment Services are not registered broker/dealers and are not affiliated with LPL Financial. The investment products sold through LPL Financial are not insured VyStar Credit Union deposits and are not NCUA insured. These products are not obligations of VyStar Credit Union and are not endorsed, recommended or guaranteed by VyStar Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. This site is designed for U.S. residents only. The services offered within this site are available through our U.S. Investment Representatives. LPL Financial’s U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all investments and services mentioned are available in every state.