Social Security

Ask social security questions and get answers ASAP

Ask an Expert,
Get an Answer ASAP!

Should I take a Social Security Bridge until age 62? What…

Customer Question
Should I take a Social...
Should I take a Social Security Bridge until age 62? What happens to my Social Security payment at 62.
Submitted: 2 years ago.Category: Social Security
Show More
Show Less
Ask Your Own Social Security Question
Answered in 21 minutes by:
6/30/2015
Social Security Expert: LawTalk, Attorney replied 2 years ago
LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 37,876
Experience: I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
Verified

Good evening Brian,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

If you are eligible for the Bridge because you have at least 35 years of work history and you have been unemployed for at least 52 weeks, you qualify, but doing so will lock your benefits for life based on the early retirement penalty that the Bridge imposes.

If you retire at age 62, your full retirement benefits are reduced by a full 25%. By applying for the Bridge, you lose an additional percentage. But it isn't quite as bad as it sounds. Let me explain.

As a practical matter, based on the actuarial tables, you will get no less over your lifetime taking the bridge than you would by waiting until age 62 or older. However, with the Bridge, you would simply get less money for a longer period of time.

At age 62 your social security benefit would begin to be paid at the age 62 rate but your pension benefit from the employer would drop----and you would in effect be receiving the same amount of monthly income from both social security and from your employer pension as you did before reaching age 62 when your Bridge payment was all from your employer benefit plan.

So, it all depends on whether you must have the money now to live on. If you can postpone it, it would mean more money down the road in later years when the cost of living starts to eat away at your retirement income.

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.

Kindly, remember to rate my service to you. That is how I am credited for assisting you.

I wish you and yours the best in 2015,

Doug

Ask Your Own Social Security Question
Was this answer helpful?
Ask LawTalk Your Own Question
LawTalk
LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 37,876
37,876 Satisfied Customers
Experience: I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

LawTalk is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

dylatess

dylatess

ATTORNEY

3,441 satisfied customers

37 plus years of SSD practice

Megan C

Megan C

Certified Public Accountant (CPA)

4,565 satisfied customers

Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level

LawTalk

LawTalk

Attorney

37,876 satisfied customers

I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

R. Klein, EA

R. Klein, EA

Accountant

334 satisfied customers

Tax & Social Security Benefits specialist

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

233 satisfied customers

Licensed in multiple jurisdictions, experienced business attorney.

AttorneyTom

AttorneyTom

Attorney

16 satisfied customers

Attorney

Stephanie O Joy, Esq

Stephanie O Joy, Esq

Soc. Sec. Attorney

3,234 satisfied customers

22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.

< Previous | Next >

Related Social Security Questions
I received a letter in the mail regarding the pickle amendment
I received a letter in the mail regarding the pickle amendment for medicaid. I currently receive ssd in the amount of $1249. During my five month waiting period I received SSI . I went to the medicaid… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
4,565 satisfied customers
My new benefit amount for 2018 shows the same amount as i
My new benefit amount for 2018 shows the same amount as i have received for the past 2 or 3 … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Hello, Im filling out Social Security Representative Payee
Hello, I'm filling out Social Security Representative Payee Report form #623 for our 26 yr. old son who is autistic and bipolar with schizophrenia tendencies. How much do I list for housing? Our house… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
4,565 satisfied customers
Why did I get only a $1.00 increase in my social security
Why did I get only a $1.00 increase in my social security benefit payment for 2018? My SSN is: ###-##-####… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
Medical insurance has been 110.00 dollars for a time. It was
Medical insurance has been 110.00 dollars for a long time. It was increased to 134.00.this year. My 2% benefit was 31.00 dollars.My net increase is 7.00. Very unfair. Also my understanding medical ins… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I got a cost of living increase in my monthly benefits but
I got a cost of living increase in my monthly benefits but it is not 2%. Why? … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Is the, Is there a rate increase if you are a war veteran,
Is the JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best. Customer: Is there a rate increase if you are a war veteran JA: Is there anything else importa… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
How can I get a form for yearly cost of living benefit
How can I get a form for yearly cost of living benefit statement. I lost the one they sent me. Virginia van Druten … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
How do you figure the 2% cost of living adj on my s.s. I
How do you figure the 2% cost of living adj on my s.s … read more
Carter McBride
Carter McBride
LLM
1,052 satisfied customers
I didn't receive my cost of living increase this year. But
I didn't receive my cost of living increase this year. But they didn't raise my medicare payment either. Thanks for helping. … read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,234 satisfied customers
I am not receiving the cost of living on my check for 2017.
I am not receiving the cost of living on my check for 2017. I am getting the amount that I have been receiving for over two years. my Social Security number is *********. Thank You. Mary J. Navaroli … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I received a cost of living increase which was supposed to
I received a cost of living increase which was supposed to be 3%. The amount I received was 0.003, which is three-tenths of a percent...which percent is right? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Im on disabilty how come i never get cost of living raises,
im on disabilty how come i never get cost of living raises … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
I am trying to find out how much my social security check
I am trying to find out how much my social security check will raise in 2018 … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
Why did I not get the 2% increase on my social security
Why did I not get the 2% increase on my social security check … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I just received my statement of benefits for 2018 and I have
I just received my statement of benefits for 2018 and I have not received a 2% cost of living raise, why not? I received $707 for 2017and it is $707 for 2018. Can you check this out for me? … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
On Social Security Form #SSA 4926-SM (1-2015), My Monthly Amount
On Social Security Form #SSA 4926-SM (1-2015), My Monthly Amount (before deductions) is $920.90 for the year 2015. On Social Security Form #SSA 4926-SM (1-2016), My Monthly Amount (before deductions) … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
M., my question is did we get an increase for next year. I
My name is***** my question is did we get an increase for next year. … read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x