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eacfp
eacfp, Enrolled Agent
Category: Social Security
Satisfied Customers: 3151
Experience:  Enrolled Agent
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I will turn 66 on Jan. 22, 2018, but I want to retire March

Customer Question

I will turn 66 on Jan. 22, 2018, but I want to retire March 31, 2017 at 65 + 2 months. How can I figure out what my monthly payment would be drawing at 65 vs. waiting until I'm 66? Your guidance will be appreciated. Thank you - Stephanie
Submitted: 8 months ago.
Category: Social Security
Expert:  eacfp replied 8 months ago.

Since you would be collecting 10 months early, your benefit would be 94.4% of your full benefit amount at age 66.

Expert:  eacfp replied 8 months ago.

https://www.ssa.gov/planners/retire/1943.html

Expert:  eacfp replied 8 months ago.

For example, if your projected benefit at age 66 would be $1,000 a month, at age 65 and 2 months it would be reduced to $944.00.

Expert:  ShawnA replied 8 months ago.

GO TO THE ss SIGN IN SCREEN AND YOU CAN SEE WAT AMOUNTS WHEN YOU RETIRE:https://secure.ssa.gov/RIL/SiView.do

Customer: replied 8 months ago.
Thank you very much. I will check the ss site you recommended.
Expert:  ShawnA replied 8 months ago.
Pls rare my answer. Thx. By accessing his Social Security site and inputting different retirement ages you'll find out the dollars
Expert:  eacfp replied 8 months ago.

If you have not received a copy of your social security statement in the mail in the past several years and don't want to go online set up an account by establishing a user ID and password ***** answering certain questions, then you can request a current copy of your statement by completing Form SSA-7004 and mailing it to the Social Security Administration. Here's a copy of the form that you can download - https://www.ssa.gov/myaccount/materials/pdfs/SSA-7004.pdf