• Question
  • How will early retirement from work but delayed ss start affect my SS payments?

    Asked by someone from Rainier, OR on 2/24/2013

    I plan to retire at age 58 but not collect my SS until age 66.8 or age 70. Current esimtated benefit calculations are: age 62, $1400 per month, age 66 $2000 per month, age 70 $2600 per month. This is all based on current income.

    Will the lack of income from age 59-66 substantially affect my SS payments as they are estimated today?

  • Categories: When to Start?, Social Security, Work and Retirement


  • Editorial 


    San Francisco, CA

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  • Congratulations on doing the research and figuring out how to maximize your Social Security benefits.

    Yes, the lack of income from age 59-65 may impact your projected benefits. The answer depends on how long you have worked and how long you have worked at your current salary.

    Social Security benefits are determined by averaging the 35 years in which you earned the most. If you are earning more now than you did when you first started working, then your potential benefits may decrease.

    I would urge you to contact the Social Security Administration. They should be able to help you estimate your projected benefit if you were to retire now.

    Full contact information for the Social Security Administration is available here: http://www.ssa.gov/pgm/reach.htm

    We wish you all the best!

  • Login to rate this answer:   Answered on 2/24/2013
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.