RetireBy90
Thinks s/he gets paid by the post
So I’ll be 69 this year and planning on SS in Jan 26 at 69 and 7 months.
I understand that you “earn” 2/3 of 1% for each month past FRA you delay, but I’m a bit confused about when that is credited. My FRA is 66 and 4 months, so Jan would be 39 months or 26% increase to my FRA amount.
So if above is correct, and I file to start Jan 26 would the entire 26% plus FRA be my monthly amount or would I get 36 months for 26 and then extra 3 months credited in Jan 27 ?
As you can see I’m just a bit confused.
Please assume my FRA at 66 and 4 months is $4,000
Thanks for help with this.
I understand that you “earn” 2/3 of 1% for each month past FRA you delay, but I’m a bit confused about when that is credited. My FRA is 66 and 4 months, so Jan would be 39 months or 26% increase to my FRA amount.
So if above is correct, and I file to start Jan 26 would the entire 26% plus FRA be my monthly amount or would I get 36 months for 26 and then extra 3 months credited in Jan 27 ?
As you can see I’m just a bit confused.
Please assume my FRA at 66 and 4 months is $4,000
Thanks for help with this.