Digital Nomad
Dryer sheet wannabe
I can't get a straight answer to this question after hours of research. Please help!
I am getting the impression that the worst age to be for upcoming Social Security Checks is age 61. I am expecting to collect Social Security next year when I turn 62 years old. But read that people who are currently age 61 are in a donut hole for increases in future benefits increases.
The "impression" I get from my research says: I won't be eligible for the upcoming 8.7% Social Security inflation increase for 2023.
And I am not impacted by the large increase in the average annual wage that impacts how my historical pay is normed going back 35 years. That stops at age 60.
So if I understand correctly, my SS Amount at age 62 and going forward is not benefited from the 2022- or 2023 inflation increases, or the Average Annual wage figure because I am 61 years old.
I am getting the impression that the worst age to be for upcoming Social Security Checks is age 61. I am expecting to collect Social Security next year when I turn 62 years old. But read that people who are currently age 61 are in a donut hole for increases in future benefits increases.
The "impression" I get from my research says: I won't be eligible for the upcoming 8.7% Social Security inflation increase for 2023.
And I am not impacted by the large increase in the average annual wage that impacts how my historical pay is normed going back 35 years. That stops at age 60.
So if I understand correctly, my SS Amount at age 62 and going forward is not benefited from the 2022- or 2023 inflation increases, or the Average Annual wage figure because I am 61 years old.
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