Mike T 0 Posted January 12, 2019 Hi Devon, Love your Youtube videos. I have a question regarding the benefit amounts shown on my Social Security Statement. I am 56 years old now and say my amount for waiting until age 70 shows $3600, is that amount in today's dollars or does it accurately represent the actual amount I would get in 14 years? If it is today's dollars, would I be correct to apply a future value calculation at say 2% to cover expected COLA's over 14 years, which would show the amount I would actually receive then being about $4750? Thanks for any clarification you can provide. Share this post Link to post Share on other sites
jeffs 0 Posted February 6, 2019 I wonder the same thing. I use financial planning software. I am 60 years old. My last statement shows I would receive $2433 a month at FRA(66yr 10 mos). I plan to stop working at 62 but to delay collecting until FRA. When I look at the reports that look into the future, when I start collecting at FRA the amount is close to $3,000. I assume the program is calculating correctly but I hope Devon weighs in and clarifies this. Share this post Link to post Share on other sites
