Hello. In reference to your answer to the previous question, I have another one for you. I am 64 and 8 months (born 1957). If I started to collect Social Security today I would receive $1741. I want to start collecting when I get to $2000. How do I figure at what age (yr/mo) that would be? The sliding scale on the SSA site does not include the 5.9% increase at this time as it is prior to it going into effect. Thanks in advance.

Hi. I would start by calculating your primary insurance amount (PIA), which is the amount you'd be paid if you start drawing at your full retirement age of 66 & 6 months. For each month that you start drawing prior to your FRA, your benefit rate would be 5/9ths of 1% lower than your PIA. Or, for each month you wait past FRA to start drawing your benefit rate would be 2/3rds of 1% higher than your PIA.

The benefit calculator included in our software (https://maximizemysocialsecurity.com/purchase) could do all of the necessary math for you, as well as analyze all of your filing options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry