What will SS pay at age 67?

[Calamity Jane]

Every year, Social Security informs Jane Doe what amount of money she can withdraw from the system at age 62, ~65, and age 70.

What if Jane Doe wants to start collecting at age 67? Will she get the "~65" figure or can she expect to get something higher, a figure somewhere between the money quoted for ages ~65 and 70?

How does that work? Is it a plateau system or mountain sytem?

 

[John]

You can call Social Security and ask them to run the numbers for you.

I called a couple of weeks ago and asked them to run the numbers for retiring now (age 52) vs. working until age 60 and starting to draw Social Security at age 62.

I've dealt with them a lot as I manage things for my elderly mom and disabled brother, and they've always been pretty helpful.

--John

 

[Nords]

Re:  Try the SS website calculators

Grab a copy of your SS earnings history (printed in your last statement or on your W-2s) and enter the data into calculator #2 at http://www.ssa.gov/planners/calculators.htm , and choose your own retirment age(s).

Or download calculator #3 and play with the results.