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PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4522
Experience:  35 years tax and professional advice in all matters money
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If I retire from work at 62 living on annunities and

Customer Question

If I retire from work at 62 living on annunities and investments until I am 66, but not making more than 40,000/yr will my benefits at 66 remain the same as what they are estimated now or will I take a hit for 4 yrs of not working. I have 46 years of work history with the highest income in the last 5 years
Submitted: 1 year ago.
Category: Social Security
Expert:  PDtax replied 1 year ago.

Hi from just answer. I'm PDtax, and can assist. The key is in how your benefits were estimated.

Expert:  PDtax replied 1 year ago.

The social security estimator assumes you will continue to earn the same as your last year's income unless you tell it differently. That is the key to your question.

Expert:  PDtax replied 1 year ago.

You don't lose any benefits by doing what you have planned, but the estimate of your benefits might call for a second look. I like the strategy myself. Your benefits grow at some 7% per year risk free. That will be hard to match in today's investment world.

Expert:  PDtax replied 1 year ago. is a link to SSA's my account feature, which allows for a very accurate estimate of benefits. Using this will allow you to evaluate scenarios, including not adding to your wage base going forward.

Expert:  PDtax replied 1 year ago.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.