I reached my FRA in 66 in April, 2020.
Using the SSA’s AnyPIA calculator, I created a PIA which I then confirmed by manually recreating AIME and applying bend points to that AIME in Excel. I am fortunate in that my 35 highest years’ earnings all either exceeded maximum taxable earnings for that year or were indexed (for years before my 60th birthday) into a top 35 year.
I plan to retire from my job at 30 years 8 months service, I’ll only be 59 1/2 then. And claim social security at age 62. Will the two and a half years effect my Social security in a negative way from not working?
Retiring early will probably have an adverse effect on your Social Security retirement benefit rate, and starting to draw your benefits at age 62 definitely will.
This year I will be 65 years old. I am planning to continue to work. My wife has never worked. She is not in great health.
If I get my Social Security at 68 years and continue to work will my Social Security payout increase? My mutual fund's value around $500K by 72 years at 6% do you for an average can live comfortably? Thank you.
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!
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 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
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