What kind of pension will I receive in America

If you are 18 or 25, or even 35 years old, you are not very interested in what kind of pension you will receive in America when the time comes. Honestly, I was not interested in this either, until several readers of my site asked me to learn more about retirement, writes Andrei Boychuk in an article for Immigrant Porada.

Фото: Depositphotos

There are two ways to check which pension you will receive:

1. Exact pension for today
2. Quick Evaluation Calculator

Method # 1. Exact pension for today

The first easy way to find out what your pension will be is to register on the website Social Security Administrations.

When you create an account there, they will show you how much you earned each year, or more precisely, what earnings you showed to the tax authorities. This is interesting information because it allows you to see how your salary has increased or decreased since you came to America.

Also in the middle of the page you will see the size of the pension, which you can receive now if you become disabled. Every year it grows.

How does this system function? You get money at work, pay taxes. From the taxes you pay, there are deductions for your pension. There are people who work for cash and do not pay taxes. Come and see what your pension will be in this case.

Фото: Depositphotos

Method # 2. Calculator

This is a quick calculator with which you can roughly determine, by today's standards, what kind of pension you will receive upon reaching retirement age. Here is a step by step instruction:

1. Go to link.

2. Enter a date of birth.

3. Indicate how much you officially earn. For example, I will enter $ 60 000 per year.

4. Then do not enter anything more, just click Submit Request.

5. The calculator will show how much you will receive. You will also find out how much your pension will differ depending on the age at which you decide to retire. That is, if I earned $ 60 000 per year and retired in 62 of the year, that is, in 2049, the state would pay me $ 1 470 per month.

About the Author: Andrey Boichuk - founder Immigrant porada (iporada.com) - platforms for Ukrainian immigrants in the United States. Cheerful husband beautiful wife and father of a joyful daughter.

This blog is translated from the Ukrainian language. The original article can be found on the website. "Immigrant Porada" (Ukrainian online advice platform for immigrants in the United States).

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