Savvy Social Security Planning Calculators

Calculator Screens

Help clients understand their claiming options and show them the lifetime impact of the various claiming scenarios. Four online calculators are available to members to help analyze clients’ claiming options in a variety of ways.

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Spousal Planning Calculator
Use for married couples. For each scenario enter proposed claiming ages for retirement benefits and spousal benefits as appropriate. The calculator will show lifetime benefits and survivor benefits after the death of one spouse. Recommend the scenario that will produce the highest lifetime benefits, consistent with the client’s overall goals.

Simple Breakeven Calculator
Use this calculator to show the breakeven age if a client is considering taking early reduced benefits versus delaying benefits and receiving a higher amount. This calculator shows the age at which cumulative benefits under the later-claiming scenario begin to exceed cumulative benefits under the early-claiming scenario. If the client expects to live longer than this breakeven age, recommend the later-claiming scenario.

Reinvest Breakeven Calculator
Use this calculator if the client will be investing Social Security benefits and drawing from other sources of income. Enter two proposed claiming ages and a projected rate of return. If the client expects to live longer than the breakeven age, recommend the later-claiming scenario.

Retirement Spending Breakeven Calculator
Use this calculator for clients who are retiring before age 70. Enter two proposed claiming ages and a defined spending need. The calculator shows how much of the spending need will be met by Social Security vs. other personal resources. After the breakeven age, fewer personal resources are required to meet the spending need. If the client expects to live longer than the breakeven age, recommend the later-claiming scenario.