Financial App Built with Claude.AI

Did you know that if you keep working after collecting Social Security early, your benefits may be reduced? Explore the impact and the effect with this calculator. 

 This is an AI app I wrote to help users make important decisions about Social Security retirement. 

Original Use Case

 Jack was unexpectedly laid off at the age of 62. He realized that even when he found a job in this economy, he was likely to earn about half his prior salary. So, though he had hoped to wait until age 67, his Full Retirement Age (FRA) to collect Social Security, he decided to explore the benefits and drawbacks of collecting now. 

Jack knew that his full payment would be reduced depending on when he retired (and the impact of that decision is another app we are working on). 

But he also knew that his social security benefits would be reduced depending on how much he earned if he returned to work. It's a complex formula, and the calculator at ssa.gov doesn't give you the bottom line, it just tells you how much your benefit is reduced. So, he asked us to create an app to solve this question for him. We used Claude. And here it is:

Try it! 

To use this, you need to know the year you reach FRA, and how much your benefit will be for the month you start collecting (or how much it already is). All of this can be learned if you login on ssa.gov. Or, you can just estimate and experiment with the numbers. 

Note: This app does not yet take into account some special rules about the first few months you collect. Right now, it tells you the ongoing income you will have during the years after you first apply through the year you reach FRA. 

A special, welcome note for your laid off folks, find out if your state considers unemployment income in the income reduced. Most do not. 

DISCLAIMER: THIS APP IS ACCURATE TO THE BEST OF OUR KNOWLEDGE. HOWEVER IT WAS DEVELOPED AS LEARNING/DEMO OF USING AI AND CLAUDE. PLEASE VALIDATE ONLINE AT SSA.GOV, OR WITH A TRUSTED FINANCIAL ADVISOR. AND CHECK BACK--IT IS CONTINUALLY BEING REFINED.