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emc011075
emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 2856
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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My husband is 65; he would like to retire this year and is

Customer Question

My husband is 65; he would like to retire this year and is wondering if his benefit (estimated at this time to be around 2000) would be dramatically reduced if he should decide not to wait until he is 66 (next August)
Submitted: 1 year ago.
Category: Social Security
Expert:  emc011075 replied 1 year ago.
Hi. My name is ***** ***** I will be happy to help you. If he applies now, 3 month before his full retirement age, he will reduce his benefits by about 2% or $40 a month. Here's the early benefits calculator:https://www.ssa.gov/OACT/quickcalc/early_late.html
Expert:  emc011075 replied 1 year ago.
I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.
Customer: replied 1 year ago.
My mistake… He will not be 66 until August of next year he turns 65 this year… I was just wondering how much of a reduction in his benefit he would see
Expert:  emc011075 replied 1 year ago.
Ok. To make sure he was born in August 1951. If he start taking it right now he will reduce his benefits by abut 8%, or $160 per month.

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