Retirement Benefits

Will Working For Lower Wages Adversely Affect My Age 70 Benefit Rate?

I'm a single 66.5 year old, and I recently "retired" from my Information Technology career. I'm trying to hold out until age 70 to collect my Social Security benefit. According to my Social Security statement, I would collect $3232 per month if I start at age 70. I have now started working part-time doing something I love, but I'm only making about $1,000 per month.......which is a fraction my previous salary. Will these lower wages during the next 3.5 years adversely affect the Social Security benefit that I will start taking at age 70? Thank you.

Hi,

How Can I Find Out What My Own Benefit Rate Would Be Now?

I am 68 and still working full-time. At MY own full retirement age, I began receiving SS benefits against my ex-husband's account. (We had been married 13 years.) I was advised by the SSA representative to receive ex-spouse benefits from his account until I turned 70, at which time I would stop receiving his benefit and begin to collect my own benefit.

How Accurate Is The Estimate On My Social Security Statement If I Only Work Until Age 59 or 62?

The yearly social security statement provided by the SSA includes an estimated benefits section that tells me how much I will receive if I work until ages 62, 63, etc. This estimate is based on my "current earnings rate." How accurate is this estimate if I only work until 59 or 62, but don't start drawing until 66 or 70? I have to assume that since the estimate is based on me continuing to work, that the SS estimate would be way off if I stopped working early, even though I didn't start collecting until later. Do I have this right?

Could My Benefit Rate Rise By More Than 8% Per Year From Age 66 To 70 If I Have Additional Earnings?

I took my SS at 66 on my husband's account. He is 77 and has been collecting since he was 64 due to health reasons. I believe they awarded me half of what would have been his full retirement since I filed at full retirement age. I will be switching at 70 to my own. These last four years of work have been my highest ever - three, sometime 5 times what I ever made in any year. I know my amount will rise 8% each year; but could it rise more due to my earnings?

Hi,

Am I Correct That I Should Wait Until Age 70 To Start Drawing Benefits If I Want To Receive The Highest Possible Rate?

I’m 60, my wife is 48. She earns much more than me. She plans on working for at least another 10 years. Me, not sure. I assume that I should wait until age 70 to begin receiving my full ss benefits. My goal is to collect the highest benefits possible, naturally. Am I correct?

BTW—LOVE the software!!! Thanks for the valuable service that your team provides! Peace of mind!!

Hi,

Is There Anything I Can Do To Increase My Benefit Amount At Age 62?

I turned 62 in the last part of Jan. and I have a good amount of money saved. Planned on taking Social Security as soon as I can so I don't have to used the money I have in my IRA. I collect a pension and my wife also collects a monthly check. The early check for Social Security check would be around $1900 a month.
Is there anything I can do to increase the amount at age 62.
Thanks in advance.

Hi,