How much Social Security will I get if I make $60,000 / year?
Published: 6/15/2025
Updated: 6/15/2025
This guide provides an estimate of your potential Social Security benefits if you consistently earn $60,000 per year throughout your career. Understanding how your earnings translate into future benefits is crucial for retirement planning. We'll walk through the assumptions and calculations to help you get a clearer picture.
Assumptions for this Calculation
To calculate your estimated Social Security benefit, we'll make the following assumptions:
- You have 35 years of income at the equivalent value of today's $60,000 per year.
- After indexing, your Average Indexed Monthly Earnings (AIME) will be $60,000 / 12 = $5,000.00.
Calculating Your Primary Insurance Amount (PIA)
Your Primary Insurance Amount (PIA) is the benefit you would receive if you start collecting Social Security at your Normal Retirement Age. It's calculated using a formula that applies "bend points" to your AIME. For 2025, the bend points are $1,226 and $7,391.
Here's how the calculation works for an AIME of $5,000.00:
- 90% of the first $1,226: 0.90 * $1,226 = $1,103.40
- 32% of the amount over $1,226 up to $7,391: The amount between $1,226 and $5,000.00 is $5,000.00 - $1,226 = $3,774.00. 0.32 * $3,774.00 = $1,207.68
- 15% of the amount over $7,391: Since your AIME ($5,000.00) is not over $7,391, this portion is $0.00.
Your estimated Primary Insurance Amount (PIA) = $1,103.40 + $1,207.68 + $0.00 = $2,311.08 per month.
When to Start Benefits
The PIA is the amount you would earn if you started benefits at your Normal Retirement Age. However, your actual benefit may be higher or lower based on when you choose to start receiving benefits.
- Starting Early: If you start benefits before your Normal Retirement Age (as early as age 62), your monthly benefit will be permanently reduced.
- Starting Later: If you delay starting benefits past your Normal Retirement Age (up to age 70), your monthly benefit will be permanently increased through delayed retirement credits.
Get Your Personalized Result
This guide provides an estimate based on specific assumptions. For a personalized calculation based on your actual earnings record and specific filing date choices, visit the calculator at ssa.tools.