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lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 29966
Experience:  Taxes, Immigration, Labor Relations
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I am 63 and starting to think about retirement in a few

Customer Question

Hi...I am 63 and starting to think about retirement in a few do I know what I have in Social Security?
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 have been working since I was 18 years old and am just wondering what I will have when I turn ....67.,,,that is what I would like to do is retire then. Just want to know what I have to count on to live.
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: That is the only question I have right now...when I get closer to 67, I will really have to find out what goes on with SS...I just don't know very much right now...
Submitted: 1 month ago.
Category: Social Security
Expert:  lev-tax replied 1 month ago.

If you was born is 1954 - your FRA - full retirement age is 66.

At that age you may start your social security benefits and you may work at the same time without any limitation.

You might wonder how the SSA figures your Social Security retirement benefit.

They base Social Security benefits on your lifetime earnings - adjust or “index” your actual earnings to account for changes in average wages since the year the earnings were received.

Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most.

If you worked less than 35 years - zeros are used for these missing years.


The simplest way to have estimated social security benefits - is to get your SSA statement.

Here is an example of such statement

You can get your personal Social Security Statement online by using your my Social Security account. If you don’t yet have an account, you can easily create one. Your online Statement gives you secure and convenient access to your earnings records. It also shows estimates for retirement, disability and survivors benefits you and your family may be eligible for.

Expert:  lev-tax replied 1 month ago.

To set up or use your account to get your online Social Security Statement, go to Sign In Or Create An Account.

The SSA will also mail paper Statements to workers age 60 and older three months before their birthday if they don’t receive Social Security benefits and don’t yet have a my Social Security account. Workers who don’t want to wait for their scheduled mailing can request their Social Security Statement. The Statement will arrive by mail in four to six weeks.

If you would like to receive your Social Security Statement by mail, please print and complete a "Request For Social Security Statement" (Form SSA-7004) and mail it to the address provided on the form