Estimate Retirement Benefits Online

If you’re wondering when to take Social Security benefits, help just arrived. The Social Security Administration recently launched an online Retirement Estimator, which lets workers view their expected levels of Social Security payments for all possible retirement ages. The move is part of an SSA effort to have a more effective online presence.

Here’s how it works: Log on to the Retirement Estimator. Enter your name, birth date, Social Security number, mother’s maiden name and place of birth. The system calculates your benefit based on your current earnings and retirement date. You can also find out how payments might change if your earnings increase or decrease.

In choosing when to retire, says Jean Setzfand, director of financial security for AARP, it is important to have a realistic picture of your finances and the cost of living. “This gives you a good gauge,” she says.