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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16559
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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Previously, I asked about collecting my deceased husbands

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Previously, I asked about collecting my deceased husband's social security. I will still be employed when I am 60. What impact will my salary have on the amount of social security I can collect?

Megan C :

Thanks for your question, and thanks for requesting me. Your salary will impact your benefits - you will have a reduction equal to $1 for every $2 you earn over $15,120

Megan C :

Your work does impact your benefit, but only until you reach full retirement age. Once you are full retirement age you can work an unlimited amount

Customer:

Thanks, Megan. I guess it really won't benefit me to apply for his social security then. My social security benefit will be higher than his so I will just collect mine when I retire.

Megan C :

Well what you can do is collect his at full retirement age, and allow yours to grow to its maximum at age 70

Customer:

I don't think I want to be working when I'm 70!

Megan C :

No, I understand that!

Customer:

Full retirement age is?

Megan C :

66

Customer:

So for four years I can collect his full benefit?

Megan C :

Yes, you can and your benefit would continue to accrue so that when you draw it, it will be its maximum possible

Customer:

Thank you for your help in understanding these complex rules.

Megan C and other Social Security Specialists are ready to help you