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LawTalk, Attorney
Category: Social Security
Satisfied Customers: 34884
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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I will be 64 this month, when should I file security?

Customer Question

I will be 64 this month, when should I file for social security? Can I file and continue working.
Submitted: 6 months ago.
Category: Social Security
Expert:  LawTalk replied 6 months ago.
Good morning,I'm Doug, and my goal is to provide you with excellent service today. I'm an attorney with 3 decades experience and I handle social security issues. While you can take your social security now, it would be deemed an early retirement and you will get less than you would by waiting until you are 66, which is your full retirement age. While you would get only about 12% less by taking your benefit early at 64, that benefit will remain at that level for the remainder of your life. So if you don't have to have the money now to survive, and you are employed, then you may be better off waiting. If you do take your social security benefit early, yes, you can continue to work-----but until you reach 66 there is an income limitation on you in terms of what you may earn through employment and still remain eligible for your benefit. Let me explain. If you are under full retirement age (66) for the entire year, social security will deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2016, that limit is $15,720. In the year you reach full retirement age, social security will deduct $1 in benefits for every $3 you earn above a different limit. In 2016, the limit on your earnings is $41,880 but they only count earnings before the month you reach your full retirement age. You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.I hope that I have been able to fully answer your question. Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.I wish you and yours the best in 2016,Doug
Expert:  LawTalk replied 6 months ago.
Hi Carol,Do you have any additional questions that you would like me to address for you?In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?Thanks in advance,Doug

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