# social security questions



## oczad (May 31, 2016)

Hello,
I'm almost 63, just lost my job of 20 years due to layoffs, and have had no luck at all finding work due to my age and other reasons. I was set on working as long as i could but was going to take SS at 66 when the amount you get is no longer affected by your job earnings. As i understand it if u keep working while collecting SS at 62 they will reduce your payments depending on your work income. At 66 whatever your amount is is what you get regardless of whether you have other incomes.  So my questions are... 

1-if i am able to find work soon,  if I take SS now instead of 66, will they stop reducing my amount dependant on other income when i reach 66?  For example, if i stated collecting at 62 and am getting $1000/mo and i start working again and lets say they only give me $500 due to my work pay, at 66 even if i am still working will they then start giving me the full $1000?

2-for the sake of example, say at 62 i am told i will get $1000 and at 66 $1400  If i don't find a job now at 62 and remain unemployed with no other income till 66 and start collecting then, will i only get the $1000 i was told i'd get at 62, or the $1400 i was told i would get at 66, or something in between? In my SS statement it says "if you collect at 62 you will get $XXX, if you *WORK* untill 66 you will get $XXXX. When they say 'work' until 66 i am not sure if that means you must work till then or whether it means if you decide to retire then. So what if you stop working at 62 and don't work again? At 66 would i get $1000, $1400, or something in between ? I would think $1000 because during those 4 years between 62 and 66 you weren't working and therefore not paying into SS. But i was told by someone they think you would get more. Anyone know what the fact is here?


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## Butterfly (May 31, 2016)

I believe that you would continue getting only what you get when you first take Social Security.  BUT, to find out for sure, call Social Security and ask them.  There's an 800 number  on their website and I've always gotten very good information from them.  They'll answer your questions to help you make a decision.  They were very helpful to me when I was first deciding what  to to.  You need to be sure you are getting accurate information on which to make a decision or you might make a bad decision that can affect the rest of your life, and the only way to be sure you are getting correct info is to get it from Social Security.  If you don't understand what they are telling you, keep asking until you do.


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## oczad (May 31, 2016)

Thanks. I didn't realize that because a year or 3 ago i went to the website in hopes of getting some answers and when i couldn't find what i wanted there i looked for a contact and i recalled finding that you can't just call them but have to make an appointment just to ask questions. Maybe thats changed or somehow i read something wrong, but i will go back see if i can find that 800 number and call. The only reason i posted the questions here is because thats what i recall finding.


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## Guitarist (Jun 1, 2016)

Check this out, oczad.  There is info about applying for retirement benefits and also an 800 #.

https://faq.ssa.gov/link/portal/340...apply-for-Social-Security-retirement-benefits


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## Butterfly (Jun 1, 2016)

Even if you need to make an appointment -- even if that's an inconvenience, it's well worth it to be sure you get the correct information for your situation.  There's a lot of misinformation out there that could wind up costing you money.


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## Myquest55 (Jun 1, 2016)

We've been looking at Soc. Sec. closely too as we get into our 60s and ready to retire.  

IF you file a claim to take Soc. Sec. at 63 instead of 62 - you get a little more $ than at 62 but not your "Full Retirement Benefit."

IF you decide you WANT that Full Retirement Benefit at 66 then you have to PAY BACK all the $$ you got and start over.

OR, you wait until 66 and claim then.  You can also wait until 70 and claim 8% more.

We are looking to retire early.  Since my husband is younger and has had more income, we will have to wait until HE is 66-1/3 in late 2022 for the Full Retirement Benefit- living off our savings.  I remember one of the Pres. candidates wanted to raise the Full Retirement age to 70 but I don't see why.  Even if you live a "healthy" life, things like Parkinsons, heart issues and other conditions an hit you - with no rhyme or reason.    

I hope you let us know what you find out.  Good luck!


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## oczad (Jun 1, 2016)

Guitarist said:


> Check this out, oczad.  There is info about applying for retirement benefits and also an 800 #.
> 
> https://faq.ssa.gov/link/portal/340...apply-for-Social-Security-retirement-benefits



Thanks for that. Also, i did know about the option of paying back what you've taken so far at 62 to apply for the 66 amount. I've actually been thinking about that a lot in trying to decide what i am going to do considering my situation, age, and probably lifespan.


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## debbie in seattle (Jun 4, 2016)

oczad said:


> Thanks for that. Also, i did know about the option of paying back what you've taken so far at 62 to apply for the 66 amount. I've actually been thinking about that a lot in trying to decide what i am going to do considering my situation, age, and probably lifespan.



Just went through paying back my benefits, 'only' took 8 months to do, talk about SS on the slow wagon.   I completely withdrew my application, paid back the $$ I received and will need to reapply at 65/66.   My husband looked at the numbers and decided the difference what I was going to get vs what I will get in 4-5 was well worth the wait.  Don't forget to calculate the cost of Medicare and supplement when you look at the $$ per month.      A word to the wise if you choose to take this route......received a letter on the amount due and we paid immediately and then about 3-4 months later received a second letter on the  'new' balance due.   Highly recommend going to the SS office and have them help you do this, seemed to be processed (our request to withdraw) slightly quicker.  The reason we had to pay two amounts?    The time it took to process my request and the benefits I continued receiving until all of this was processed.


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## mathjak107 (Jul 14, 2016)

you can only pay back money the first year , the option to go back years has been gone for a while .  what ever age you file is the benefit you get less colas. onoly exception is if you file and work  whatever you give back because you earned to much will be recalculated when your are fra and you will get a bit more .

so lets say from 62 to 65 you gave back a total of 6 months worth of money  , insted of being deemed collecting at 62 they will recalculate you at fra as if you retired at 62-1/2 and took ss 6 months later


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