We offer several options for entering your Social Security earnings and benefit information, balancing ease of data entry with accuracy. This guide helps you choose the right option.

If you change your mind about which option you want to use, click the "Clear" button on the screen (if you have an earnings record entered, you will need to clear that as well).


Full Earnings History

Use this option for the most accurate projections and full Social Security maximization analysis.

If you have no expected earnings in this or future years, we can use your current or estimated benefit information to "infer" your earnings accurately, making it very quick to use this approach. Look for the "Use Benefit/Estimate Amount" under "Covered Earnings History." If this option is disabled, you will need to import or enter your full earnings record. Importing from your SSA "my Social Security" account is very straightforward.

Impact and Limitations

None, this is the most accurate option


Benefit Estimate at FRA

If you are younger than your Full Retirement Age (FRA), you can get this number from your Social Security statement. This estimate is not accurate enough for us to maximize your Social Security benefits, but it can provide a quick and reasonably accurate way to project Social Security benefits for your overall financial plan.

Impact and Limitations

  • If you start benefits prior to FRA, your benefit will be lower than the estimate.
  • Impact of future self-employment earnings or wages:
    • Will not increase benefits since benefits are based on an external estimate.
    • If starting benefits before FRA, earnings may reduce or eliminate SS benefits if earnings exceed the earnings test limits in a given year.  Any reduction will be recouped somewhat after FRA when your reduction factor is adjusted.
    • Any future earnings will alter FICA taxes.
  • Auxiliary benefits (Spousal, Child, etc.) are supported but should be considered an estimate.
  • Benefit suspension/reinstatement (between FRA and age 70) is not supported.
  • Social Security maximization is not supported. Learn why


Benefit Estimate at Age 70

If you are between your Full Retirement Age (FRA) and age 70, you can get this number from your Social Security statement. This estimate is not accurate enough for us to maximize your Social Security benefits, but it can provide a quick and reasonably accurate way to project Social Security benefits for your overall financial plan.

Impact and Limitations

  • If you start benefits prior to age 70, your benefit will be lower than the estimate.
  • Impact of future self-employment earnings or wages:
    • Will not increase benefits since benefits are based on an external estimate.
    • Any future earnings will alter FICA taxes and the spending solution.
  • Auxiliary benefits (Spousal, Child, etc.) are supported but should be considered an estimate.
  • Benefit suspension/reinstatement (between FRA and age 70) is not supported.
  • Social Security maximization is not supported. Learn why

Current Benefit

If you are beyond the minimum filing age for Social Security benefits and have expected current/future earnings, we'll provide this option, which you can use if you are currently collecting retirement benefits. However, this option does not support maximization or calculating auxiliary benefits (Spousal, Child, etc). For greater accuracy, use the Full Earnings History option.

Impact and Limitations

  • The provided benefit amount will be included in your plan as Social Security income.
  • The provided benefit amount will be increased annually by inflation.
  • The provided benefit amount may be adjusted in the future using the Social Security future adjustment setting.
  • Auxiliary benefits (Spousal, Child, etc.) are not supported.
  • Social Security maximization is not supported. Learn why

No Earnings/Benefit Record

Use this option if you do not have or expect any Social Security covered earnings or benefits of your own. Social Security will not be calculated for you, though if you have a spouse with a Social Security record we will still calculate spousal benefits where applicable.