THE EFFECT OF WHEN YOU START COLLECTING  
  SOCIAL SECURITY  
  The purpose of this calculator is to help you determine when to begin collecting Social Security.      
  This calculator will provide:    
  * Your estimated monthly benefits at age 62, 65 and 70  
  * Your cumulative benefits at various ages  
  * How many years it takes to break even with different alternatives    
  * Your estimated life expectancy    
   
  Year of Birth    
  Normal Retirement Age (NRA)    
  Estimated Monthly Social Security Benefit at NRA   */**  
  Monthly Benefit at age 62    
  Monthly Benefit at age 65    
  Monthly Benefit at age 70    
     
  * You should receive an annual statement from the Social Security Administration with your estimated monthly benefit.  You can also get an estimate from their website  http://www.ssa.gov  
  ** The maximum monthly benefit for those retiring in 2006 at Normal Retirement age is $2,053.20  
   
  HOW MANY YEARS DOES IT TAKE TO BREAK EVEN?  
  Age 62 compared to NRA    
  Age 62 compared to age 70    
  NRA to age 70    
 
     
   
   
 
 
 
 
 
 
 
 
   
   
   
 
 
 
 
 
   
  TOTAL SOCIAL SECURITY      
      RECEIVED BY AGE    
 
  RETIREMENT AGE    
  62 NRA 70      
  65        
  70        
  75        
  80        
  85        
  90        
  95      
   
 
  LIFE EXPECTANCY  
  Current age    
  Life expectancy   ***  
  *** Life expectancy is based on the "single life table" in regulation §1.401(a)(9)-9    
 
   
 
   
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  Westwood, MA 02090    
  (781) 407-0300    
  www.gggcpas.com    
   
   
  Please refer your comments to:           mkoppel@gggcpas.com