Ask Larry

Retirement Benefits

Does It Sound Like I'm Getting The Right Amount?

i am now almost eighty in 4 months been drawing social security since 62 i never thought I was being paid enough so after all these years I ask they told me that they would re figure it again I now get 1550 they take out 100.00 medicare end up getting 1450 I took 35 years of highest wages it came out to using their figures 1,047,652.00 does this seem it is correct i know taking it early u get a lower amount but i had pretty good salary


Monday, September 4, 2017 - 06:22

Will My Earnings After Full Retirement Age Be Used To Calculate My Benefit Rate?

I am still working, turning 70 in October, and not drawing social security. Since I took my current job at age 66, I received a good increase in my salary. There have been no changes or increases indicated on my annual social security projections from the SSA for the last four years; and I am wondering if my future social security payments will reflect these higher earnings or if they will only be based on my earnings record until I reached "full retirement age." I have not seen this question anywhere and I thank you for addressing my issue and concern.

Thursday, August 10, 2017 - 07:27

Is There Any Advantage To Continue Working Until Age 62?

If I have made the maximum social security earnings for the past 35 years and I am financially secure outside of depending on my future social security benefits, does it make sense to work past 58. I am a FERs employee and plan to collect my social security @70. Is there any advantage to keep working to 62 & would I get a bigger benefit from social security? Love your book! thanks Steve.

Hi Steve,

Wednesday, August 9, 2017 - 07:43

How Are Reduced Benefits Calculated?

A friend of mine started receiving his social security benefit in August 2016. His 64th birthday was in December 2016, and he receives about $750 a month. He told me that someone said he would have received just as much if he had started his check in January 2016, because the payment is computed as of the end of the previous year. Is this true? I know that this is true for delayed retirement credits but that it is temporary. I know that, in the case of DRCs, eventually the full amount will appear in the monthly check, after it is computed at the end of the following year.

Thursday, May 25, 2017 - 08:11
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.
$40 Annual Household License
$250 Annual Financial Advisor License