My wife has worked for the airlines for 35 years. She is currently 62 and may be forced to retiree. She’s concerned if she retires now , doesn’t pull social security until 66 and 8 months, and no longer earns income until then, will her her social security benefits listed today remain the same or be reduced because she didn’t work for 4-5,years before pulling at 66 and 8 months. I look forward to your insight.

Hi,

Your wife's benefit rate would not go down if she stops working. But, if the estimated benefit rate that you are referencing includes future year earnings that don't materialize because she quits working, then her benefit rate may not be as high as the estimate indicated.

Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings. If you calculate your wife's benefit rate based on her highest 35 years up to now, that rate won't go down if she stops working. Stopping work would simply mean that she wouldn't have the potential to increase her rate by replacing lower earnings years that are currently included in her 35 year average with higher earnings years.

The benefit estimates provided by Social Security on the statements they issue generally assume that a person will continue working at their current earnings level until the age of the estimated benefit rate. So, your wife's estimate on her Social Security statement may be higher than her rate actually ends up at if the projected future earnings they used in the estimate don't materialize.

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to do your Social Security planning. The software would provide your wife with an accurate estimate of her benefit rate with and/or without future earnings so that she can gauge what difference (if any) that stopping work would have on her benefit rate. The software would also allow her to fully analyze the filing options available to her in order to determine her best strategy for claiming benefits.

Best, Jerry