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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16576
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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I am 63 and still working. Is there an advantage to signing

Customer Question

Hello. I am 63 and still working. Is there an advantage to signing up now and deferring vs waiting until I'm not working? I'm concerned about changes in the law over the next few years affecting me if I'm not signed up. Also, my spouse is 55 so I don't think any of the spousal strategies will work for us.
Thanks so much for your time and help
Submitted: 1 year ago.
Category: Social Security
Expert:  Megan C replied 1 year ago.

Thanks, ***** ***** your question. If you are still working, then chances are your benefit will be reduced to the point where you would not qualify. If you make over $15,000 then your benefit is reduced $1 for every $2. The main changes have to do with spousal strategies and your spouse is too young for you all to consider this at this time.

You're fine -- relax until your full retirement age, and then draw.

Please let me know if you need anything additional. If not, please rate positive.