This Social Security app will help advise you on the optimal time to begin collecting SS benefits. It is hands down the most accurate and easy to use tool for determining when the best age to collect retirement benefits begins for you. You will be able to compare how taking your MBA (monthly benefit amount) at different ages can affect your monthly and lifetime Soc Sec income projections.
The app also features many tips that can help you make the most of this very important decision. The calculator will give you a beautiful chart that compares your various options, it will calculate the break even age for when the different options begin to make more money, and you will have an easy to read table that breaks down how much your primary insurance amount will be, and displays your cumulative lifetime MBA.
You can collect benefits starting between the ages of 62 and 70. This application will automatically calculate any reductions or bonuses that your monthly payment will receive based on the birth year you enter. Additionally, the app can correctly apply cost of living increase bonuses based on deferring your monthly benefits (this is the only app that correctly does this on the Play Store as of now).
-There are no ads in the free or paid versions!
-You will have100% Personal Privacy and Data Privacy in this app.
-Numerous tips are provided that may offer insight to help inform your decision.
-The free version allows for calculations that do not include inflation.
-By upgrading you can calculate using inflation (COLA) and setting life expectancy.
This app is not affiliated with any government organization. It is an independent financial app designed to accurately calculate various income scenarios. All the information and tips presented are for educational and resource purposes only. While high accuracy is the goal, we don't guarantee the results of the tool and suggest that you use the information from this app in conjunction with the consultation of your professional advisor regarding your individual situation.
You've worked hard and paid into Social Security your entire life, now it's time to devise a plan for maximizing your benefits!