Investing - Theory, News & General • How to understand ssa.gov estimated monthly benefit ? (Will I get the said amount even if I retire at 40 years old)

Hi,

When I login to ssa.gov it says

For example:
Your estimated monthly benefit at Full Retirement Age (67) is $1000.
Early(62): 700
Delayed(70): 1500

I already have 40 work credits needed to receive benefits

Are those numbers based on me expected to continue to work till the age of say 60 or 62 and then retire and get that money as monthly benefit

OR

I get that said money even if I retire early say at age 40. Use my taxable savings from age 40 to age 62. From age 62 I can expect to get the said $700

How to interpret the said estimated monthly benefit ?

Thank you.

Statistics: Posted by sharukh — Fri Jul 12, 2024 10:15 pm — Replies 2 — Views 295

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