Social Security - Early Retirement
|This will produce a table showing by month money you receive from retirement. It has two
columns. The first column is the amount you receive when you start retirement. The second column is the amount
you receive if you wait for full retirement. It sums up the amounts and subtracts the full retirement from the
start retirement column. When the sum of the full retirement exceeds the begin retirement amount, that's when you
break even. This does not take into consideration any money you would receive if you invested money received from
Social Security. If possible it is always better to take your Social Security as soon as possible.
The rules are changing, so you must enter you the age and amount you will receive at full retirement. You can get information from the social security department showing your retirement amount by age you retire. Generally speaking if you retire early your pay will be about 20% less than full retirement.
|Enter early retirement age, and early amount
Enter retirement age and retirement amount
Calculate age. In case you don't have a break even what age do you want to calculations to stop.
Shows the break even age.
Table showing each month and accumulated amount for early and retirement age and their difference.
When the Gain becomes zero or negative , that is your break even age.