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Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 9703
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I started drawing reduce social security benefits at 62.

Customer Question

I started drawing reduce social security benefits at 62. My birthday is ***** so I am now 66. When do I no longer need to worry about the amount I earn on a part-time bases. My situation is such that I may need to go back to work full time to take care of an adult child. I would like to keep my social security benefits and not affect the amount I am currently receiving. Do I need to wait till I am 67 or 68?
Submitted: 5 months ago.
Category: Social Security
Expert:  Lane replied 5 months ago.
Hi,...Traditionally, the full benefit age was 65, and early retirement benefits were first available at age 62, with a permanent reduction to 80 percent of the full benefit amount....Currently, the full benefit age is 66 for people born in 1943-1954, and it will gradually rise to 67 for those born in 1960 or later....And once you turn full retirement age (again 66 for you). there can be no reduction in benefits for working
Expert:  Lane replied 5 months ago.
Sounds like you understand well, and may be looking for are fine now, to go back to work without any reduction in the payments....I hope this has helped....Please let me know if you have any questions at all....If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the faces or stars on your screen, and then clicking “submit That’s the only way JustAnswer will credit us for the work here....Thank you!Lane……I hold a law degree (JD, Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security/Medicare, estate, corporate, both for-profit and non-profit, and tax advice, since 1986
Expert:  Lane replied 5 months ago.
Hi,...I’m just checking back in to see how things are going...Did my answer help?...Let me know…...Thanks,Lane…

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