I am trying to get a handle on (age 57) what my future benefit might be at age 70. I have an idea, utilizing the SSC retirement calculator. What I don't understand is: 1. Are AWI calculations already baked in? If not, how would I figure those in and account for them - yearly averages, start with my estimated benefit at 70 and add the percentage every year until 62? 2. Same questions for COLA(62-70). Using a hypothetical of a current estimated benefit of $1000 at age 70, how do I figure out what my true estimated benefit might be if I account for AWI and COLA? Thanks

Hi. I have looked for an answer to this and can't find it. Even talking to Social Security they were too focused on when the first check would be sent to actually answer my question.

I turn 70 on July 8. I've read on the SSA website some bits of information that says you have to be 70 for the entire month.

I work at Target Distribution Center and wanna know when I could retire with full benefits I'm 60 years old!

Hi,

Hi Larry
I started claiming SS at age 66 in 2016- my retirement age (born in 1949) but then back to work in 2018 and I am
still working. I am now earning a salary that is higher than about 30 of my 35 years working that were previously

I am turning 66 on July 15, 2020 and would like to file for SS benefit that allowed for at my FRA. What month do I need to ask for on Application to receive my first check without reduction for filing before FRA at 66. Thank you, Ben

Hi Ben,

Hi Larry, When I started to receive SS benefits in Jan 2019, I received the maximum FRA (+4% for 6-month deferral) amount at that time. I’m continuing to work with a salary above the FICA yearly maximum; however, my benefit is no longer the maximum. How is the maximum benefit calculated and can I expect an adjustment later this year? Thanks, Paul

Hi Paul,

I began receiving SS and Medicare at 65. I am 71 and still work part time. Does the amount taken out of my paycheck for SS affect my SS check? Would my check increase? What happens to the amount taken out? Am I credited for that

Hi,

Hi Larry. I know a person's SSA benefit is calculated based upon one's highest 35 years of earnings (NOT adjusted for inflation). I plan to start taking my payments at age 70 but will continue to work full time through age 72 (health permitting). Presumably those extra two years of salary will be equal or greater than my current one, which is at the top of the value pyramid. Would replacing my two lowest-salary years (apx. $16K each) with the highest-salary ones (apx. $88K) increase my monthly benefit, or is it simply frozen at the point where I begin to collect?

I retired in 2018 at the age of 57 , and I am only collecting a pension. I have a forty year work history that’s documented with the SSA. In my ssa estimate can I assume the numbers will be accurate when I apply for early benefits at age 62? I don’t plan on working ever again but I do have those 40 years paid into ss.

Hi,

I am collecting my SS from my wife’s benefit, using the Restricted Application strategy you recommend, letting my own benefit grow until I turn 70. Before I started collecting SS I would receive annually a letter outlining my projected benefit at 62, 66, and 70. Apparently you no longer receive that letter when you start collecting SS. Is there a way to find out what my current projected benefit will be at 70 when I switch to my own benefit. I have checked the SS website and it does not have that information in my account.

Hi,