# apply for ssa and then suspend it



## corvairbob (Dec 20, 2014)

tell me if i apply for ssa and then suspend it can i still work until 70 and then start to collect the higher amount? i'm 63 now will be 64 in march and i will most likely work until i'm 65. i hear that i may be able to apply for ssa and then suspend the payments then when i want them at 70 i can get them at the higher amount, taking into account the 0's for 4 to 5 years of not working. is that a true statement or did i get the information wrong? the wife is still working and i can live from my savings for the difference until then.


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## wmc1000 (Dec 23, 2014)

Correct - you will receive 32% more than you would a 66


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## Don M. (Dec 23, 2014)

You are correct in that delaying SS results in higher monthly payments.  The Big Unknown is Longevity....figuring out how long you will live and how much you will get is the Big Question.  The best approach is to get out the calculator, and make several calculations based upon different life spans.  I saw a report a few weeks ago that showed about 12 years as being the "crossover" point whereby you can get more money by taking SS early, vs. waiting for maximum benefits.  If Longevity runs in your family, and you live well into your upper 80's or low 90's, you can get quite a bit more out of SS by taking the early option.  Currently, the U.S. Male life expectancy is about 77.5, which means that if you delay payments until age 70, you will probably get back just about what you paid in, if you pass at that age.  However, taking the lower payments, over a period of 25 or 30 years, results in far more benefits than you have contributed.  It's a gamble, as no one knows for sure when they will pass, but looking at different options can certainly help make the best decision.  

Personally, I got in as soon as I was eligible, and have already gotten substantially more than I paid in.  Now, the wife gets a monthly payment, even though she never worked outside the home, and if we live to the ages of our parents, and most of their siblings, we will get at least 3 times...maybe 4 times...more than I paid in during my working career.


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## corvairbob (Dec 24, 2014)

thanks i figured you can get more but what i want is the most per paycheck. what good is 1000.00 per month every month and getting by when 2000.00 per month and having some fun with it is there. and if i die first that is the breaks i just don't want to be in the spot that i can't afford to do anything but set and watch tv. i want some spending money too.


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## rkunsaw (Dec 24, 2014)

corvairbob said:


> thanks i figured you can get more but what i want is the most per paycheck. what good is 1000.00 per month every month and getting by when 2000.00 per month and having some fun with it is there. and if i die first that is the breaks i just don't want to be in the spot that i can't afford to do anything but set and watch tv. i want some spending money too.



You're right Bob. Trying to get the most money from social security shouldn't be your goal. Getting enough each month so you can enjoy life to the fullest is the objective. Trying to guess how long you'll live is a waste of time.


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