On July 19, 2008, we will all have access to a new Internet tool courtesy of the Social Security Administration. It is called the benefit estimator, and will allow each of us to secure a reasonably accurate estimate, online, of our Social Security retirement or disability benefit monthly check amount.
The benefit estimator will use live SSA records to make the calculations. We will have to enter some identifying information on the SSA website for authentication purposes. We will then be able to check out different scenarios and see how our benefits would be impacted, such as taking early retirement at age 62, or waiting to full retirement age, such as age 66 or 67.
Check SSA's main web-pageafter July 19th for instructions.