Does It Sound Like I'm Getting The Right Amount?

Sep 4 2017 - 6:22am

i am now almost eighty in 4 months been drawing social security since 62 i never thought I was being paid enough so after all these years I ask they told me that they would re figure it again I now get 1550 they take out 100.00 medicare end up getting 1450 I took 35 years of highest wages it came out to using their figures 1,047,652.00 does this seem it is correct i know taking it early u get a lower amount but i had pretty good salary

Hi,

The Social Security benefit calculation formula (https://www.ssa.gov/pubs/EN-05-10070.pdf) is too involved for me to be able to give you a yes or no answer. If you think that you might be getting the wrong amount, you may want to consider using the maximization software available on this website to check the calculation. I will say, though, that Social Security almost always get the calculations right, so it's very likely that you are receiving the correct amount.

Best, Jerry

i know taking it early u get a lower amount but i had pretty good salary
i know taking it early u get a lower amount but i had pretty good salary