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Christopher B, Esq.
Christopher B, Esq., Attorney
Category: Social Security
Satisfied Customers: 2983
Experience:  associate attorney
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I am 71 and only draw 553.00 amonth I started at 62, was

Customer Question

I am 71 and only draw 553.00 amonth I started at 62, was wondering if I could get more money a month . I worked 53 years .
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: what else do you need to know
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: not that I am aware of
JA: OK. Got it. I'm sending you to a secure page on JustAnswer where you can place your fully refundable $5 deposit (plus $13 after the Retirement Accountant responds). While you're filling out that form, I'll tell the Retirement Accountant about your situation and connect you two.
Submitted: 1 year ago.
Category: Social Security
Expert:  Christopher B, Esq. replied 1 year ago.

My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship.

Social Security locks you in to the amount you elected to. At age 62, you elected to take the smallest amount possible for your benefit. This is because you got to take it for 3 or 4 years longer than if you elected to take it at early retirement. That is the trade off, get a higher benefit for a shorter time or a smaller benefit for a longer time. You would have received 100% at full retirement age if you would have waited and could have gained 8% per year of delay up until age 70, if you delayed even longer. Unfortunately that is the way the system is set up and you are locked into your amount at age 62. SS takes into account 35 years average of income so if you replaced any of those years with higher income you could probably moderately increase your amount but there is not much else you can do.

Please let me know if you have any further questions and please positively rate my answer if satisfied. There should be smiley faces or numbers from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated for my time by the site.

Expert:  Christopher B, Esq. replied 1 year ago.

Just checking back in, do you have any further questions?