I have your software, and your calculation of our benefits matches what SS says our benefit will be. But I have tried to do the math long hand using the cost of living index on my earnings and what I believe to be the correct bend points. The issue I have is the formula tells you what your Bennifits is supposed to be at FRA, but I am claiming at 70. The formula does not account for cola and delaid credits for people waiting to 70. Can’t someone come up with a calculator for someone waiting until 70. If we can’t trust S.S to have the correct numbers Where do you go for the right figures to avoid another horror story.
You get 8% a year increase over your full retirement benefit, if you wait the extra 3 years until age 70 to claim. The PIA upon which your benefit is calculated includes the annual COLA, so your dollar increase will be slightly more than 8%. Since that is unknown until it happens, it is difficult to project — even after only 3 years. That’s actually included in Larry’s software at MaximizeMySocialSecurity.com calculator in today’s dollars.
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