• Question
  • retire at 68 collect at 70

    Asked by a 74 year old woman from Strongsville, OH on 4/7/2013

    I am retiring at age 68 and not collecting SS until age 70 - How much does the SS increase per year if I am no longer working?

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  • Categories: When to Start?, Social Security

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • According to the Social Security Website - you should get an annual increase of 8% per year that you delay taking social security after your full retirement age up to age 70 your maximum retirement age: http://www.ssa.gov/retire2/delayret.htm

    If you are looking for other ideas about how to increase your retirement security try the NewRetirement Calculator: https://www.newretirement.com/retirement-calculator/default.aspx

    Hope this is helpful.

  • Login to rate this answer:   Answered on 4/8/2013
**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.