{"id":803,"date":"2011-08-12T16:44:59","date_gmt":"2011-08-12T16:44:59","guid":{"rendered":"https:\/\/newlindisability.com\/?p=803"},"modified":"2024-04-29T11:48:02","modified_gmt":"2024-04-29T17:48:02","slug":"aarp-launches-social-security-benefits-calculator","status":"publish","type":"post","link":"https:\/\/newlindisability.com\/blog\/aarp-launches-social-security-benefits-calculator\/","title":{"rendered":"AARP Launches Social Security Benefits Calculator"},"content":{"rendered":"\n<p><strong><a href=\"\/\/www.aarp.org\/\" target=\"_blank\" rel=\"noopener\">AARP<\/a><\/strong> recently rolled out a new feature on its website to help seniors calculate at what age to begin collecting Social Security payments.<\/p>\n\n\n\n<p>The interactive tool is designed to help seniors meet their financial goals as part of the AARP\u2019s new <strong><a href=\"\/\/www.aarp.org\/work\/social-security\/info-05-2011\/10-steps-to-retire-every-day.html?cmp=RDRCT-4RETR_JUN02_011\" target=\"_blank\" rel=\"noopener\">10-step \u201cReady for Retirement?\u201d program<\/a><\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li ><a href=\"#how-the-aarp-retirement-calculator-works\">How the AARP Retirement Calculator Works<\/a><ul><li ><a href=\"#case-studies-and-examples\">Case Studies and Examples<\/a><\/li><li ><a href=\"#strategic-considerations-for-retirement-planning\">Strategic Considerations for Retirement Planning<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n\n\n<p>\u201cOur research shows that many Boomers are worried about retirement because they don\u2019t feel prepared,\u201d said Jean Setzfand, Vice President of Financial Security at AARP. \u201cWith our new easy-to-use calculator and our \u2018Ready for Retirement?\u2019 resources, we want to help older Americans understand retirement as a life transition, visualize their goals, and take the steps needed to build retirement security.\u201d<\/p>\n\n\n\n<p><strong><a href=\"\/\/coventry.patch.com\/articles\/aarp-launches-social-security-benefits-calculator\" target=\"_blank\" rel=\"noopener\"><em>Coventry Patch<\/em> points out <\/a><\/strong>that more than half of people who claimed Social Security retirement benefits in 2009 did so as soon as they became eligible at age 62. This was in spite of the fact that beneficiaries would be decreasing their lifetime retirement income by as much as eight percent for each year that they claimed benefits before reaching full retirement age.<\/p>\n\n\n\n<p>\u201cChoosing to claim benefits early \u2013 or late \u2013 is a highly personal decision made all the more difficult by the weak economy,\u201d said Setzfand. \u201cWith health, employment, lifestyle and savings among the many variables to consider, no one age is right for everyone. However, the later you decide to claim, the greater the potential benefits may be for you and for your family. Our calculator helps people weigh the variables and make an informed decision for their individual circumstances.\u201d<\/p>\n\n\n\n<p><strong><a href=\"\/\/coventry.patch.com\/articles\/aarp-launches-social-security-benefits-calculator\" target=\"_blank\" rel=\"noopener\">Read more<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-the-aarp-retirement-calculator-works\"><strong>How the AARP Retirement Calculator Works<\/strong><\/h2>\n\n\n\n<p>The AARP retirement calculator simplifies the complex considerations involved in retirement planning. Users input various personal details such as their age, health status, lifestyle choices, expected retirement age, and financial information. The tool then analyzes this data to project the benefits of different claiming ages.<\/p>\n\n\n\n<p>For instance, claiming Social Security benefits at the earliest age of 62 can lead to a permanent reduction in monthly benefits by as much as 30% compared to waiting until full retirement age (67 for most people born after 1960). On the other hand, delaying benefits past full retirement age can increase your monthly payouts by 8% each year until age 70, maximizing your lifetime income significantly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"case-studies-and-examples\"><strong>Case Studies and Examples<\/strong><\/h3>\n\n\n\n<p>To illustrate the practical use of the AARP retirement calculator, consider the scenario of a person planning to retire early. If John, age 62, uses the calculator, he may find that claiming benefits right away would result in $1,500 monthly. However, waiting until age 67 could increase his monthly benefits to $2,100, and delaying further to age 70 could boost his monthly income to approximately $2,640.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"strategic-considerations-for-retirement-planning\"><strong>Strategic Considerations for Retirement Planning<\/strong><\/h3>\n\n\n\n<p>Beyond just calculating benefit amounts, the AARP retirement calculator also helps users consider various factors such as health, employment status, and other income sources. These elements are critical as they affect both the necessity for early benefits and the ability to sustain oneself without tapping into Social Security.<\/p>\n\n\n\n<p>Do you think you\u2019ll find the AARP\u2019s Social Security Benefits Calculator helpful?<\/p>\n\n\n\n<p>If you need help with your Social Security Disability benefits, <a href=\"https:\/\/newlindisability.com\/free-consultation\/\" data-type=\"page\" data-id=\"4679\">contact the\u00a0Social Security Disability lawyers at Newlin Disability<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AARP recently rolled out a new feature on its website to help seniors calculate at what age to begin collecting Social Security payments. The interactive tool is designed to help seniors meet their financial goals as part of the AARP\u2019s new 10-step \u201cReady for Retirement?\u201d program. \u201cOur research shows that many Boomers are worried about [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":5755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[51],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts\/803"}],"collection":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/comments?post=803"}],"version-history":[{"count":1,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts\/803\/revisions"}],"predecessor-version":[{"id":5756,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts\/803\/revisions\/5756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/media\/5755"}],"wp:attachment":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/media?parent=803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/categories?post=803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/tags?post=803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}