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

Jan 23 2018 - 9:47am

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,

Not really, other than waiting until you are older to start drawing and/or with additional earnings (https://www.ssa.gov/pubs/EN-05-10070.pdf). When to start drawing benefits is a personal choice, but you may want to consider using the software available on this website in order to gauge the long term effects of your decision on your finances. You may also be interested in Larry's opinion on this subject: https://www.pbs.org/newshour/economy/collect-social-security-early-order....

Best, Jerry