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How Much Will You Need To Retire? More Tools Popping Up Online

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CBS Detroit (con't)

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DETROIT (WWJ) – If you’re thinking about retiring you might be happy to learn you can do it online now. Mark Hinkle is the spokesperson for the Social Security Administration and says millions of people are already calculating their retirement by using the online tools.

When should you retire?

Hinkle says there is a lot of information to factor in:

“Their current cash needs, their current health, their history, family longevity and really what their plans are in retirement – how much other income they might have,” said Hinkle.

Hinkle says what’s great about signing up for your retirement online is that you can try a number of different scenario’s to see how much you’ll get back, based on your age.

There are three different ages you can retire but if you retire at age 66 you get your full benefits. The retirement age for those born after 1960 will soon move to age 67.

Find more information HERE.

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