4 Replies Latest reply on Nov 19, 2013 1:27 PM by KateS

    Drawing SS 10 months before Full Retirement Age

    grhl
      How much is the difference between drawing SS right after my 65th birthday in November and if I wait two months until I am in the year of my 66th birthday?  In other words, how much more would I get if I waited until I turn 66 in November? Thanks.  
        • Re: Drawing SS 10 months before Full Retirement Age
          MyR Community Manager
          grhl,
          Thank you for creating a new discussion thread! We appreciate and enjoy your participation in the MyRetirement.org online community and look forward to your future contributions.
           
          • Re: Drawing SS 10 months before Full Retirement Age
            ghiaray
            grhl said...
            How much is the difference between drawing SS right after my 65th birthday in November and if I wait two months until I am in the year of my 66th birthday?  In other words, how much more would I get if I waited until I turn 66 in November? Thanks.
            I am doing the same grhl, I turned 65 in Oct., and I have signed up to take SS in Jan., with my first check coming in Feb.
            I plan on working for a couple months next year. I understand I can make 44,000 in my full retirement year 
            • Re: Drawing SS 10 months before Full Retirement Age
              DrAllan
              I am actually considering the exact same strategy. I learned from SS the difference per month, in my case, is $193 per month less if I take SS at 65 vs 66. My full retirment monthly payment  woud be $2442. I am retired now but work as an independendt contractor, ie consulting. SS indictaed that the maximum I can earn is about $14,000 without penality.

              I am TRYING to wait to fill retirment age becasue my wife's benefit will actaully be based on mine since I was the high wage earner 
              • Re: Drawing SS 10 months before Full Retirement Age
                KateS
                There is a calculator on the SSA.gov website which will enable you to run the numbers, so that you can determine the difference if you decided to collect earlier in the year rather than at your actual Full Retirement Age. Best wishes!