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Figure out your income in retirement

You'll likely have multiple sources of income in retirement. Here's how to determine exactly how much you can expect.

Social Security

You qualify for Social Security once you reach age 62, but delaying your payments will increase them. To get the highest payments, wait until age 70 to start collecting Social Security.

If you qualify for Social Security, your spouse will also be eligible for a benefit even if he or she never worked.

To figure out what your payments will be, go to or review the Social Security estimate sent to you by U.S. mail each year once you turn age 60. (Prior to age 60, you'll receive it every 5 years.)


If you worked for a company that offered a pension benefit, contact them to find out what your payment will be, as well as your options for taking it.

Some pension plans allow you to choose among an annuity stream that will last throughout your lifetime (and/or your spouse's lifetime), a lump sum, or a combination of the two.

Other income sources

There are many other ways to earn income in retirement, like part-time work or rental income. If you expect to receive any other income, add it to your list.

Calculate your retirement income

Our calculator makes it easy to see whether your income is enough to cover your expenses.

If you're like most people, you'll use your savings as a supplement to meet your spending needs in retirement. Make sure to withdraw from your savings in a way that will give you the most benefit.

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