General Question

martys42's avatar

Social security benefits break-even calculator, chart or graph?

Asked by martys42 (2points) July 28th, 2009

At what age do the total benefits equal one another, when one starts receiving them at 62, 65 and 70 years?

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1 Answer

basp's avatar

I’m not sure what your question is exactly but there is a finite amount of money in your social security “bank” and that amount is based on what you paid into social securityduring your working years. So, if you start drawing social security benefits at a younger age, your monthly check will be less but you will recieve this monthly checks for a longer period of time. If you start drawing your social security at an older age, your monthly checks will be more, but for a shorter period of time.

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