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I'm wondering how much will my pension be if I retire now. I…

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I'm wondering how much...

I'm wondering how much will my pension be if I retire now. I will be 65 Sept. 28. A previous research showed that I will only get about $700 per month. Is that right?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.

I have worked at T J Maxx for 20 years. I get $15,000 to $16000 per year now. I'm enrolled in the 401K and only allow 1% of my paycheck to be put towards it.

Accountant's Assistant: Is there anything else the Retirement Accountant should be aware of?

I have a second job as a caregiver and have had this job since March 2017. I get paid for 10 hours per week at $11.25 per hour.

Submitted: 11 months ago.Category: Social Security
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Answered in 6 minutes by:
9/19/2017
Social Security Expert: lev-tax, Tax Advisor replied 11 months ago
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,340
Experience: Taxes, Immigration, Labor Relations
Verified

I will help to estimate your social security benefits.
What we need - information about your earning for ALL years which were subject to social security taxes - that amount was reported on your W2 form box 3.
You may provide estimated amounts if you are not sure.
For instance
2017 - $16,000
2016 - $17,000
etc - for all years you worked.

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Social Security Expert: lev-tax, Tax Advisor replied 11 months ago

If you want to calculate on your own - here is teh publication and teh worksheet to use

https://www.ssa.gov/oact/progdata/retirebenefit1.html

Let me know if you need any help.

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