Many retirees today rely heavily on Social Security to cover their living expenses. And there’s a good chance you’ll wind up in the same boat.

That’s why it’s a good idea to get an estimate of your monthly Social Security benefit ahead of retirement. And there’s a fairly easy way to go about that.

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All you need to do is create an account on the Social Security Administration’s website and access your most recent earnings statement. It should contain a summary of your wages as well as the projected benefit you’ll receive in the future.

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But don’t get too hung up on that number. Your Social Security benefit could end up coming in smaller than expected for these reasons.

1. You file early

If you want your complete monthly Social Security benefit based on your wage history, you’ll need to wait until full retirement age to file for it. If you sign up sooner, which you can do starting at age 62, you’ll have to accept a reduced monthly benefit — usually for life.

But remember, not everyone who claims Social Security early does so because that’s optimal for them. For some people, signing up early becomes a necessity when they find themselves out of a job. So it’s important to try to save a decent amount of money in case you end up getting less monthly income from Social Security in retirement than expected.

2. You work while collecting benefits

Social Security allows recipients to work while getting benefits. And once you reach full retirement age, you can earn any amount of money without negatively impacting your benefits.

But since you can sign up for Social Security as early as 62, and you may not reach full retirement age until 67, there’s a pretty big window in between. And during that time, if you exceed the program’s earnings-test limits, you could see a chunk of your Social Security benefits withheld.

Social Security’s earnings-test limits change every year. In 2025, the limit is $23,400, or $62,160 if you’ll reach full retirement age this calendar year. Income earned from a job beyond these thresholds results in having a portion of your Social Security withheld, so be careful and know the rules.

3. You lose some of that money to Medicare premiums

Medicare eligibility starts at 65. And if you’re on Social Security and Medicare at the same time, you’ll have your Part B premiums paid from your benefits automatically.

But Medicare premiums aren’t cheap. This year, Part B will cost you $185 a month if you’re eligible for the standard cost. And so you may not get to keep your Social Security benefits in full if you’re required to pay for Medicare.

Also keep in mind that higher earners are charged more for Medicare Part B, which could whittle down your Social Security checks more substantially. Granted, if your income is high enough to face a Part B surcharge, it means you may not be as reliant on Social Security as someone with less income. But it’s an important factor to keep in mind regardless.

All told, there are several reasons why you may not get as large a Social Security benefit as expected. Keep these points in mind and have a backup plan so you’re not left scrambling in retirement.

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