I understand that If I file for spousal benefits at my (FRA), that I will receive 50% of my husband's full unreduced retirement age rate (PIA) even though he started drawing his benefits at 62. I know what he would have received at full retirement age 12 years ago. My question is will that amount have grown over the ensuing years (by SS COLAs or whatever)? We are both pre-1954 born.

Hi,

I am hoping to wait until my FRA in 2/2020 to collect benefits. I am eligable for my benefits and divorced spouse benefits. If I decide only to wait till October 2019 to collect benefits how much of the 8% increase will I forfite if any? My spouse who retired at FRA makes quite a bit more than me, I am estimated to receive $1960.00 monthly at FRA. Could you help me understand how the two benefit amounts arrived at. Loved your/colleagues book, thank you

Hi,

My SS statement says I will receive $3571/month in benefits if I wait to draw SS when I reach 70. I am just turning 61 and have stopped working, so I have zero earned income. I maxed out my SS taxes for 27 of my 35 highest earnings years. I verified the benefit quoted on my statement via the online SS benefits estimator where it uses your personal information to compute the benefit. I enter ZERO for future earnings. I also downloaded the native Windows app available from the SS site and it also computes $3571 as my benefit when I manually enter all my historic wages.

I filed and suspended when I turned 66 (I'm 67 now). I salary increased substantially this past year so will my PIA be recalculated to reflect the higher 35 year average when I actually take benefits at age 70?

Hi,

Yes, Social Security automatically recalculates the benefit rates of beneficiaries who have earnings high enough to raise their benefit amount, even if their benefits are in suspense (https://www.ssa.gov/pubs/EN-05-10070.pdf).

Best, Jerry

I always read that social security benefits are based on your highest 35 years of work. Very occasionally I also read the disclaimer that this means the highest 35 years of work starting the year after you attain the age of 21. If so, that would exclude any years of work prior to age 21. When I read my earnings history it appear I paid into social security during my teen years and in ages 20-21.
So when exactly do those 35 years of work begin? Thanks for the clarification.

Hi,

I can't get help from SS since they say my monthly SS check is too high. (1540 in CA).
That is crazy since I live in CA where nothing is cheap. How can I get more money or
at least qualify for more to live here. I am 79 and no one wants to hire a person in that
age range.

Hi,

I am 62 and will retire from my job of 30 years with a pension that will provide 37% of my salary. I have enough saved in 401K plans and my employment annuity to hold off collecting social security. However, I am worried what 4 or 8 years worth of non-earning years will do to my social security benefit when I start receiving social security at either 66 or 70?

I am a single person (never married) and will turn 70 at the end of October 2016 (29th) and have NOT started to receive SS benefits yet. The first payment will be scheduled for the beginning of November 2016.

Using the IRS on-line calculator and entering the exact amounts from the SS statement received in the mail the following was shown: for the year 2016 earnings of zero (worse case since I am self-employed) was put into their calculator and the benefit amount came out to $3240 per month.