Larry, I'm 59 and 2018 was my last year working. According to Social Security my benefit at FRA would be $2449.00 a month, but that's based on "future" estimated earnings. What should I really expect my benefits to be at the age 67 since I'm no longer working?

Hi,

Your benefit rate will likely be lower than the amount estimated on your Social Security statement if your estimate includes credit for future earnings that don't occur because you stop working. How much of a difference, if any, depends on how your past earnings compare with the future earnings estimates that Social Security used. Your Social Security retirement benefit rate will be based on an average of your highest 35 years of wage-indexed earnings, so the fact that you retired early may or may not have a significant impact on your benefit rate (https://www.ssa.gov/pubs/EN-05-10070.pdf).

You may want to consider using our software (https://maximizemysocialsecurity.com/purchase) to obtain a more accurate estimate of your benefit rate and to compare your filing options. However, due to the indexing rules used by Social Security, exact benefit amounts can't be calculated until a few months prior to the year in which you reach age 62.

Best, Jerry