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dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3441
Experience:  37 plus years of SSD practice
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I worked for 38 years making a good income. New owners came

Customer Question

I worked for 38 years making a good income. New owners came in and brought in their own management team. Currently I am having difficulty finding a job, but have started a small business not making nearly what I was making. Someone told me I would be penalized by not making more money at the end of my career and would make less than the amount stated at this time. Is this true?
JA: The Retirement Accountant will know how to help. Is there anything else the Retirement Accountant should be aware of?
Customer: No
Submitted: 9 months ago.
Category: Social Security
Expert:  emc011075 replied 9 months ago.

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

That someone is incorrect. Your benefits are calculated using your lifetime earnings, 35 best years of your career, to be exact. The 35 years does not have to be the first 35 years or the last 35 years of your working years. It is the BEST 35 years. If, after working for 38 years, your earnings drops for few years, these high earning years will not be replaced with the low earning years. SS will still use the 35 BEST years.

Your benefits can only be reduced if you apply for early benefits at 62 instead of waiting for your full retirement age.

Expert:  emc011075 replied 9 months ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?