Retirement Benefits

Will I Be Penalized For Taking Benefits Before Full Retirement Age?

I am planning on taking my social security benefit in August of this year, I will turn 65. I am currently working part time. My social security benefit is estimated at around 1,403 a month. My earnings for last year were 22,645.08. Will I be penalized for working and claiming benefits before full retirement age? I can't afford to lose income , my social security will be my only income. I am married and my husband works. Also, how long does it take to get benefits once you apply? I read that you can make up to 16,940.00 before you are penalized.


Do We Qualify For More Benefits?

I retired mid Dec 2015 and turned 65 the end of March 2016. I started receiving SS in April 2016. My husband is 11 years older and has been receiving SS for a long while. I also receive spousal benefits. Neither of us work. I am now my husband's caregiver. We have IRAs totaling more than $27,250. Do we qualify for more?


Based solely on the information in your question, it sounds like you are already receiving as much as you can get from Social Security.

Best, Jerry

Can I Start Drawing Benefits 6 Months Before Turning Age 66 And Still Get My Full Retirement Age Rate?

I am turning 66 in July of 2018. Can I apply in January 2018 and receive my full retirement age benefits 6 months early in the year i turn 66?


No, you can't. If you'll earn less than $44,880 (or whatever the exempt amount of earnings is set at in 2018) in the months prior to the month you reach age 66, you could start drawing benefits effective with January. However, your benefit rate will be permanently reduced by about 3.33% if you do so.

How Much Will My Wife Get If She Retires Now?

My wife wishes to retire now. She is She was 65 on Feb. 14. She has no income and will use my amount which is 19,120 a year. What will her amount be ias of April 1.
thank you


That depends on her earnings history. Social Security retirement benefits are based on an average of a person's highest 35 years of work-adjusted earnings (

Should I Delay Filing Until After Age 70?

I will turn 70 in December 2017. To maximize my benefit, I delayed applying for my SS benefits till age 70.
I am still working and expect to earn in 2017 more than the max SS taxable earnings cutoff ($127200)
Since I have less than 35 previous years with significant SS income, can I delay collecting until January 2018 and thereby add 2017 to the 35 years averaged for benefit calculation?
According to the online calculator, this will add $66 to my monthly benefit and will cover the lost month of benefits within 3.5 years.

Which Party Is Right?


Getting 2 opposing views from social security regarding computation of retirement benefits.

One party states that the retirement amount (at 62 or 66) is calculated using an average of the HIGHEST SS wages for the last 35 years.

The other states use of average SS wages for the last 35 years prior to the actual retirement date.

Is There Any Way That I Can Get A Better Estimate Of My Future Benefit Rate?

I have a copy of my latest benefits estimate from Social Security. I think it estimates my future earnings based on my latest year. I plan to stop working before I start drawing Social Security retirement benefits. I'd like to know how much that will reduce their estimated benefit. They have some clever calculators online, but none of them seem to do exactly what I want. I played with one of their calculators and I think I have a close estimate.

What Is The Social Security Maximum Benefit?

I'll be turning 70 on 6/2017. I'll start receiving my full benefits then. I've been receiving spousal benefits from age 62 though.

Please inform me as to what's the maximum social security benefits one may receive which is, of course, based on one's income and contributions over a lifetime.

Just curious to know what one could potentially receive with a top % income


Will You Explain The 6 Month Retroactive Benefit?

Would you please explain what the 6 month retroactive benefit is and how it works. I am 68 years old, my FRA was 66 and I am still working and haven't filed for my
S.S. retirement benefits yet


I'll try. Since you are older than full retirement age (FRA), when you file for benefits you will have the option to claim benefits up to 6 months prior to your month of filing. However, taking the retroactive benefits will come at the cost of receiving a lower monthly benefit rate for life.

Do You Have Any Advice About My Problem?

I am retiring in May 2017, age 67. I got a phone call from SS that my 1990 income was apparently reported twice. This skewed my benefits which became lower once the error was found (my bad for not paying closer attention to those earnings reports!!!) I was told on the phone by the SS rep that half the reported amount would be used as my income for 1990. Now I get a letter stating my income for 1990 is $0 and my benefits (including a retro payment to July 2016, if I choose to take it) are even lower. Of course I am disputing this but do you have any advice?