Social Security Questions? Ask a Social Security Expert
Thank you for your question.
Please permit me to assist you this afternoon.
If I may ask, did you formally file with the SSA and pursue formal retirement yet?
If not, the Social Security Administration is not going to start sending you checks right away--you would have to first file with them and puruse their application so that your actual benefit could first be calculated.
i did apply for and have received my medicare.
i havent done anything with social security
i dont plan on retiring soon. i receive income from investments and from board of director dues
Those are somewhat separate from one another, an applicant can receive social security and not medicare, or vice versa
If you aren't yet planing on retiring, you won't yet receive social security payments
Reason is social security payments are somewhat income dependent
once you receive your benefit, there are wage limitations imposed on you on how much you can earn without it affecting and lowering your monthly checks.
assume my income from board dues and investments is over 100,000 a year
that is why many choose to not reitred right away, it freezes their amount of benefit in place, and with employment causes the checks to get lowered
then you'd lose all your SSA benefits, without qustion
sounds like i should hold off
That is correct
and the longer you hold off the larger your benefit will become
thanks, XXXXX XXXXX worth it :)
it will can grow even from 65 to 70
:) glad to hear it
Please let me know if I can assist you in any other way