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retirementlawyer
retirementlawyer, Tax Attorney
Category: Social Security
Satisfied Customers: 17223
Experience:  13 years experience in social security
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I am in a family business and have taken only 500$ per week

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I am in a family business and have taken only 500$ per week as a salary for the past 13 years. i will be 60 in May 2014. If I increase my salary to 1500$ per week until I turn age 66
(6more years) will it positively and or substantially increase the amount I could expect to receive from social security when I turn 66?

retirementlawyer :

Hello and welcome. My name isXXXXX am a Licensed practicing attorney and my goal is to provide you with excellent service today.

retirementlawyer :

This is a common issue, by taking $1500 per week it could raise your beneftis but not much,

retirementlawyer :

social security determines benefits on the highest earnings of the last 35 years,

retirementlawyer :

not your last few years,

retirementlawyer :

the best way to increase your benefits is to take social security at a later age such as age 70, instead of age 66,

retirementlawyer :

every year you delay taking social security you increase your payment by 8%

retirementlawyer and other Social Security Specialists are ready to help you
If you have any further questions please do not hesitate to ask.
If you have any further questions please do not hesitate to ask.