How Much Will You Receive in Social Security Income?

(Last updated December 2020)

Social Security is a key component of most people's retirement plan. Here's a quick estimate of the retirement benefits under the current rules.

Percent of Salary Replaced by Social Security Retirement Benefits

Percent of Salary Replaced by Social Security (approx)

The Percentage of Your Salary Replaced by Social Security is Determined by Your Salary Level

The chart above (click to expand) shows the approximate percent of your salary that Social Security will replace if you take full retirement at age 66. The actual calculation is complicated, and is based upon your lifetime earnings. For these estimates, I have assumed that you earn your current salary, adjusted for inflation, for the duration of your career (all previous and future years). The point here is to see the big picture; for an estimate specific to your situation see the links at the end of the post.

Inflation Calculator: Convert Dollars from 19xx to Now

Last updated Sept. 2020

Convert Dollars From One Year to  Equivalent Dollars in Another Year
Calculate Inflation Rates Between Two Years

This calculator is especially useful for converting salaries and asset values.

The brown/tan cells are input fields. For example, enter the start and end years and immediately see the inflation rate between the two years. Enter a price and convert between the start year price and end year price (e.g., from 1900 to 2019 dollars -- or vice versa).



Notes: On some phones you may need to double click to enter data. On some computers, you may have to enter some fields more than once for it to "take." Please leave a comment if you are having problems.