Retirement Benefits

When figuring out the highest 35 years for the AIME, using indexing, some of my years before I turned 22 are higher than the years now as I approach my 35 years. In researching if the income can be included, some information on SSA shows that only the years after you turn 22 are calculated in the AIME but most articles on the Internet do not specify 22 and it looks like all income earned in any year of your life can be used.

Hi Larry, my question is along the lines of an earlier one with a slight twist. I retired early (age 48) from a well-paying job (around 100K/year for the last five years of work), so didn't have 35 total years in the workforce. I'm now 52 and took a part-time, minimum wage job as a AVID Tutor not because I need the money, but because I want to give back for my education. Will this low-paying job reduce my Social Security Benefit when I take the retirement benefit (planned at age 67)? Would it be smarter financially to not work at all? Thanks!

Hi,

I am 66 and currently have a retirement of around $43,500 with SSA at age 70 if I continue with the same income. I plan on working until 70. Is there a maximum amount you can Receive from SSA? It seems to max out at $45,000 per year. Or if I increase my salary will I be able to receive more than $45,000 per year?

Hi,

I am 59 and plan to stop working at age 60 to collect survivor benefits (my husband passed away in Jan 2017). I think I will work very part time for a few years (keeping it under the earnings limit of $17k to avoid reducing my SS benefit). I plan to switch to my retirement benefit at age 70 when it is at its maximum. My question -- will my retirement benefit at age 70 be reduced if I work part time for a few years? Will it change my monthly benefit amount? I've been working since about age 15 so certainly way more than 35 years.

Hello Larry.
1. I will be 64 in October (DOB 10/8/1955) 2. My Full R age is 66y, 2m.
3. I stopped working in October 2018. (I'm ok as I draw from a family real estate LLC that pays me & income taxes)
4. My SSA statement says 2841 Full or 3766 maximum benefit.
If I do not take another payroll based job, how will my Full and Max benefits be affected?
Thank you so much.
sk

Hi SK,

I was planning to work until I'm 70. However, I have some friends about the same age who are continuing to work but have filed already for SS. How does that work? Should I file for SS now? I'm a little confused.

Hi,

I began receiving my social security Medicare benefits 8 years ago, due to financial issues of my employer, which left me with a reduction in pay. However, I have continued to work even through now. So, I am continuing to pay into social security and do not see myself retiring for at least another 3 or 4 years. My question is: What is the possibility of my social security monthly benefits changing when I fully retire? Thank you so much for this column!!!!!

Hi,

My friend just started collecting SS. Born 1952 ,started collecting at 67. She got a lump sum. This sounds to good to be true. It sounds like it might affect your monthly amount. She continues to work. I ve been thinking of starting my receiving mine when I turn 67 this October 2019. Please advise.

Hi,

Hi,
My FRA is 67 yrs. I plan to retire/stop receiving earnings income at 65.However I wanted to wait until I'm 70 to start my SS benefits. How would I calculate my benefits? Currently earning $80K/yr.
Thanks,
William

Hi William,

Will benefits still be recalculate and possibly increase as I am still working and am 72

Hi,