How can I get Social Security benefits to calculate correctly?

Submitted by Mary Franco on Sun, 09/14/2014 - 13:22

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Social Security

I was making a much larger salary until this year. I resigned and started my own business in 2014. Since my projected earnings from 2014 and future years are significantly lower than what I have been earning, the calculated social security benefit when I retire is artificially low. (There doesn't seem to be a place to show the planner that my 2014 income is not typical of what I have been earning in most years.) How can I correct this in the program?

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dan royer's picture

dan royer

Sun, 09/14/2014 - 16:56

In the Social Security area

In the Social Security area there is a place to enter future earnings. Normally we'd just copy forward those earnings from the earnings area, but you can also enter different future earnings--that is, enter them manually.

If you have the correct earnings history either pasted in or manually entered and you correctly indicate future earnings, the program will get this SS benefit exactly correct.

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