How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Stephanie O Joy, Esq Your Own Question
Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13283
Experience:  19+ years legal exp. - 10+ years owning/operating her own SSD Law practice.
10805288
Type Your Social Security Question Here...
Stephanie O Joy, Esq is online now
A new question is answered every 9 seconds

If I will be 66 in March, but would like to retire now, but

Customer Question

If I will be 66 in March, but would like to retire now, but have already made approximately 75K this year, can I retire now, and still get benefits as long as I do not make more than 14,000 for the balance of 2015?
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.

Hi, thank you for your question.

"If I will be 66 in March, but would like to retire now, ------ OK, so you'd like to retire "early", opting for the reduced amount (just a bit).... Note that this also prevents you from increasing your benefit rate by 32% above you primary insurance amount.

"but have already made approximately 75K this year, can I retire now, and still get benefits as long as I do not make more than 14,000 for the balance of 2015?" ---- Yes, under a special rule, you can get a full Social Security benefit for any whole month you are retired, regardless of your yearly earnings. But that would not involve a $14000 number (there is no such number at present), but a prorated monthly amount.

See here: http://www.socialsecurity.gov/planners/retire/rule.html

Expert:  Stephanie O Joy, Esq replied 1 year ago.

I hope this helps! My goal is toprovide you with excellent and accurateservice – if you feel you have gotten anything less, please reply back, Iam happy to address follow-up questions.

Kindly rate me "excellent"when you are done. I look forward to assisting you in the future, shouldyou have legal questions. Be sure tostart future posts with "To ***** Esq., ONLY" ifyou want me to specifically answer it.

Sincerely, ***** ***** Joy, Esq.

Your online SS legal resource!