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emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 2928
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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I am 73 yrs old I took a job they take out ss will draw more

Customer Question

I am 73 yrs old I took a job they take out ss will draw more benefits next yr
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: i am 73 yrs old been self employed all my life i took a job paying ss will i get more benfits and when
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: wil aleady draw a little more than 1500.00 a month
Submitted: 10 months ago.
Category: Social Security
Expert:  emc011075 replied 10 months ago.

Hi. My name is ***** ***** I will be happy to help you.

Not necessarily. You benefits are calculated using average earnings of your 35 best earnings years. There are couple of instances when your benefits increases after you retired:

- you have less than 35 working years OR

- your earnings are higher than the what you earned in your 35 best years.

For instance, if during your best 35 years you earned between 35K - 75K, you would need to earn more than 35K after you retire to increase your benefits.

If you worked less than 35 years, your benefits will most likely increase if you continue working.

Expert:  emc011075 replied 10 months ago.

Any questions? Is there anything else I can help you with today?