Ask Social Security Questions and Get Answers ASAP
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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.
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