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

Mar 23 2018 - 10:21am

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.


No, provided that the benefit estimate shown on your Social Security statement does not include future year earnings that won't materialize. Your Social Security retirement benefit rate will be based on your highest 35 years of wage-indexed earnings (https://www.ssa.gov/pubs/EN-05-10070.pdf). So, if the estimate that you received is based on your actual earnings to date, you couldn't lower your benefit amount by working for lower wages.

Our maximization software will enable you to determine your correct benefit amount based on your actual earnings up to now, and what effect if any your part-time wages would have on your benefit rate. The software will also allow you to compare all of your filing options so that you can identify your best strategy for claiming your benefits.

Best, Jerry