No, you should create a new user account for Quicken Social Security Optimizer by clicking here.
Quicken Social Security Optimizer is a web-based application. Our software can be used on any Windows, Mac, or Linux system using one of the browsers listed below:
Please visit our Take a Tour page.
Please visit our Glossary page.
Typically, 62 is the earliest age at which you can file for your own benefits, or 60 if you are filing for Survivor benefits. However, it is important to remember that the older you are when you file (up to age 70), the greater your monthly/annual Social Security benefits will be.
In general you don’t need to, as the Social Security Optimizer looks up FRAs automatically based on your birth year, and also lists it in the downloadable report. However, if you’re interested, the following table lists the current FRAs for each age group:
|1937 or earlier||65y|
|1943 - 1954||66y|
|1960 or later||67y|
Survivor benefit FRAs are slightly different from those for other types of benefit. Just add two years to each of the birth years listed in order to find the right FRA. For example, 65 years of age is the FRA for anyone born in 1939 or later for survivor benefit purposes; 66 years of age is the FRA for people born between 1945 and 1956, and so on. As for retirement and spousal benefits, the Social Security Optimizer looks these ages up for you automatically as part of its analysis, and incorporates the appropriate FRA into its calculations.
Your FRA Benefit represents the amount of monthly benefit you are entitled to if you file for benefits at FRA. Normally, this amount is calculated based on a COLA-adjusted average of your top 35 years of earnings in a job that participates in Social Security (i.e. that pays the FICA payroll tax). If you have not worked for at least 35 years at the time you start claiming Social Security benefits, then the remaining years would be treated as though you earned $0, bringing your average earnings down and therefore reducing your FRA Benefit.
Using your last year’s earnings gives a rough estimate of what your Social Security benefits could be, based on the assumption that you earned approximately the same amount (when taking into account inflation) over your top 35 earnings years. While this estimate is useful as a first step, it can be a lot less accurate than using your actual FRA Benefit, since typically a person’s earnings are not quite that consistent over time.
For more information, please visit the FAQ section of the Social Security Administration website at https://faq.ssa.gov/ics/support/default.asp?deptID=34019&_referrer=.
A fellow named Ernest Ackerman got a payment for 17 cents in January 1937. This was a one-time, lump-sum pay-out--which was the only form of benefits paid during the start-up period January 1937 through December 1939.
A woman named Ida May Fuller , from Ludlow, Vermont was the first recipient of monthly Social Security benefits.
The Bipartisan Budget Act of 2015 was signed by President Obama on 11/2/2015. Two aspects of the Social Security rules as analyzed by the Social Security Optimizer (SSO) are affected: