• Question
  • miss understood full retirerment ?

    Asked by someone from Phoenix, AZ on 6/6/2019

    i started the retirement prosses at 65 can i cancell it and do it next year at 66 05/15/1953

  •  
  • Categories: Pay Back and Restart, Social Security

Answers

  • Get a FREE 1-on-1 phone
    consultation with this advisor
  • If it has been less than 12 months since you filed for your benefit, you are able to withdraw your application. If you choose to do this you will be responsible for a lump sum to repay the money received including your own benefits, money withheld for medicare, money withheld for taxes and additional child benefits, etc.

    You can file form ssa-521 to initiate this process. You may want to call Social Security or go to your local office to make sure you have a full understanding of your liabilities before filing.

  • Login to rate this answer:   Answered on 7/8/2019
**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.