Hi,

I have a question regarding working after reaching FRA while collecting social security benefits regarding whether benefits increase due to higher current earnings than in the 35 best years used to calculate benefits in 2020.

I am 74 ( born 1947) and have not contributed certain years therefore have gaps, maybe 7 or 8 years where i made no contribution to social security
i am still working part time and can give myself a salary and pay into social security
My understanding is that i still can improve my situation ( i get only $1370 a month ) by filling the years of no contribution.
My accountant doesn't think so, thinks it is a waste to contribute after 70.
What is your understanding?
Thanks

I was born in 1963. I have in 35 years of work. I have worked for a corporation for 29 years, but have retired from the company and will work for a school system for the next 5-7 years. My salary in 2022 is roughly 4 times what it will be for the next 5 years. People keep telling me that having the lower salary will lower my social security benefit. Some say that my benefit will only be based on the last 5 years. I don't understand why if I already have in 35 years. The ssa site calculator does show my benefit going down by $65/mth.

I am 52 and have reached my 40 credits needed for social security. I have been at my present job for 26 years but if I take a lower paying job does it affect how much social security I receive when I turn 62? Will the amount I receive be lowered?

Can you please expand on your answer: https://maximizemysocialsecurity.com/will-just-announced-cola-apply-bene...
I was born in April 1960 and I will start social security benefits this year in May 2022. How will my benefits compare to equivalent recipients born in either 1959 or 1961?

Larry answered "Just to clarify, though, benefits withheld due to the earnings test or FWT are not returned to the beneficiary. Instead, the person's benefit rate is adjusted as explained above to remove part or all of the reduction for age that was originally applied to their benefit rate"

This looks like it could be a strategy to evaluate. I assume your software can run this 'what if' scenario for all of this?

Hello Larry,

I am 67 yrs 9 months old with a Full Retirement Age of 66. I haven't started taking my SSA benefits yet and am confused by SSA.gov's benefit estimates and calculator. Prior to reaching FRA, they showed the benefit increasing monthly if filing is delayed. After reaching FRA, they show the benefit increasing only once annually. This is true for the social security pdf statements, the online estimator, and the anypia calculator. I've verified with friends who found the same result. I may want or need to start my benefits sometime next year.

Is there any update you can give re the wage price index issue for people born in 1960?

Hello. In reference to your answer to the previous question, I have another one for you. I am 64 and 8 months (born 1957). If I started to collect Social Security today I would receive $1741. I want to start collecting when I get to $2000. How do I figure at what age (yr/mo) that would be? The sliding scale on the SSA site does not include the 5.9% increase at this time as it is prior to it going into effect. Thanks in advance.