Social security question

**sweeps** · 03-01-2007, 01:45 PM

The first statement could be true. Social security counts your highest 35 earning years to figure your benefit. If your friend's husband hit the maximum annual earnings amount 35 times in his career, then there's not much more he can do to boost that amount.

I'm skeptical of the second statement. Maybe your friend is mistaken?

**JoyJoy** · 03-01-2007, 05:23 PM

Ima, you can call the SS Administration and ask them these questions directly. You don't have to give your name. Just ask them if this information is true and they will tell you.

**JBinKC** · 03-02-2007, 07:45 AM

He probably earned the maximum amount of the benefit allowed based on his previous years earnings credits however in order to receive 100% of the benefit he still will have to work to 65 10 months to get it.

If he draws before the date the benefit will be prorated. You could figure that rate based upon how much of the benefit assuming the percentage of the benefit you would have been given at age 62 which have been 76.25% of the benefit. I have calculated at age 65 years the benefit would be 94.84% of the total.

**Ima saver** · 03-02-2007, 08:16 AM

He has never made much money. I always thought if you made above, about $13,000 a year, you would have to pay some back.
Also, why would he be the only person allowed to have his money early? He was not planning to take any social security until he turns 70. He will have to work until he dies. They have no savings.

**scfr** · 03-03-2007, 02:15 PM

I listened to Suze Orman's new show on PBS this afternoon, and a woman in her audience asked esentially what you are asking. I was scrubbing the floor while listening so I don't remember every word she said, but I caught this much (again this is according to Suze and I'm sure it would be a good idea to reconfirm with the SS office):

- The age at which you can retire to receive full benefits depends on your birthday. So, the age at which you can retire and receive full benefits could be different for your friend's husband and for you. It might be 65 years, or 65 years and 6 months, or 65 years and 10 months, or 67 years, etc, etc.

- If you wait to start receiving benefits until you have reached whatever your "full retirement age" is, then it doesn't matter how much money you make, you'll get it all. It's only if you retire before you reach that age that you will have to give some of it back if you earn above a certain amount.

**Ima saver** · 03-03-2007, 02:24 PM

Thanks, he was born in 1942, so he should get his at 65 years, 10months.

Social security question