Social Security

Ask social security questions and get answers ASAP

Ask an Expert,
Get an Answer ASAP!

My birthday is 7/9/1950 should I wait until my 68 birthday…

Customer Question
My birthday is *****...

My birthday is ***** should I wait until my 68 birthday to start my S.S.

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I am retiring at the end the month but should I wait birthday to retire. will I make a lot more money to make it worth while to wait

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

Not that I know of

Submitted: 29 days ago.Category: Social Security
Show More
Show Less
Ask Your Own Social Security Question
Answered in 5 minutes by:
3/22/2018
Social Security Expert: Richard, Tax Attorney replied 29 days ago
Richard
Richard, Tax Attorney
Category: Social Security
Satisfied Customers: 56,565
Experience: 29 years of experience as a tax, real estate, and business attorney.
Verified

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Ask Your Own Social Security Question
Social Security Expert: Richard, Tax Attorney replied 29 days ago

Good afternoon. You can retire and start take your SS now, but if you earn more than $44,000, 85% of your SS earnings will be subject to income tax at your marginal tax rate. If you don't need the money, it's beneficial to wait until you are 70 as your monthly benefit increases by 8%/per year until you reach the age of 70. So, mathematically, you're better waiting until your're 70 to begin taking SS. But, the flip side is that if you think that do to the government deficit, there may at some point be a means test imposed and that they could cut your benefits some time in the future, then it would be a good idea to start taking your SS benefits now, but really only if you also retire so that your SS income benefits aren't subject to tax.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Ask Your Own Social Security Question
Customer reply replied 29 days ago
what I wanted to know should I start now or wait til my 78th birthday.
how much more do I get if I wait the 4 months
Social Security Expert: Richard, Tax Attorney replied 29 days ago

Your 70th birthday or your 78th birthday?

Ask Your Own Social Security Question
Customer reply replied 29 days ago
should I do it now or wait til I am 68
Social Security Expert: Richard, Tax Attorney replied 29 days ago

If you wait 4 months, you will receive 2 2/3% less per month than you would six monthsl later. So, if you look up your benefit at 68 and multiply that times 97 1/3% (i.e., 100%-2 2/3%), that's what your benefit will be if you take it now.

Ask Your Own Social Security Question
Social Security Expert: Richard, Tax Attorney replied 27 days ago

Just following up. My screen indicates that you have not reviewed my response. Please let me know if you did not receive it so I can re-send it if necessary. Thank you!

If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Ask Your Own Social Security Question
Was this answer helpful?
Ask Richard Your Own Question
Richard
Richard
Richard, Tax Attorney
Category: Social Security
Satisfied Customers: 56,565
56,565 Satisfied Customers
Experience: 29 years of experience as a tax, real estate, and business attorney.

Richard is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

dylatess

dylatess

ATTORNEY

3,441 satisfied customers

37 plus years of SSD practice

Megan C

Megan C

Certified Public Accountant (CPA)

4,565 satisfied customers

Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level

LawTalk

LawTalk

Attorney

3,065 satisfied customers

I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

R. Klein, EA

R. Klein, EA

Accountant

334 satisfied customers

Tax & Social Security Benefits specialist

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

233 satisfied customers

Licensed in multiple jurisdictions, experienced business attorney.

AttorneyTom

AttorneyTom

Attorney

16 satisfied customers

Attorney

Stephanie O Joy, Esq

Stephanie O Joy, Esq

Soc. Sec. Attorney

3,234 satisfied customers

22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.

< Previous | Next >

Related Social Security Questions
I need a copy of my 2018 benefit statement I lost the one I
I need a copy of my 2018 benefit statement I lost the one I had … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I misplace my 1099 form and. How do I get a copy to enter my
I misplace my 1099 form and . How do I get a copy to enter my tax information. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
If I reach full retirement in September and start drawing
If I reach full retirement in September and start drawing social security at that time can my earnings in the months before that date be subject to decrease in my SS earnings? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I cosigned car loan fr sonand he defaulted they repoed car
I cosigned car loan fr sonand he defaulted they repoed car sold it very cheap and now I'm expected to pay off about 13000.Can they take my house an car or make me pay? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
How does 28 years of Railroad work and retirement affect
how does 28 years of Railroad work and retirement affect social security/ WORKED for 3 three years under social security and then 28 years RR retirement then three more years SS then on to my own busi… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
916 satisfied customers
Can I add a new disability to my ssi? I am on sis for cancer
I am on sis for cancer and co-op. I actually have mental problems. Can you help?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am not finding MySSA .gov. Hotmail. On my computer. None I
None I can get into My Social security but not MySSA.gov … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I need a copy of the 2018 statement which indicates the
Hello, I need a copy of the 2018 statement which indicates the amount of my SS income. Can one be emailed to me. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I need a replacement 1099 for 2017. Government payments. J
I need a replacement 1099 for 2017 JA: Was this a Form 1099 for interest, dividends, or government payments? Customer: Government payments JA: Anything else you want the Retirement Accountant to know … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I want to change the bank my monthly check is sent. I am 79
I want to change the bank my monthly check is sent. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I have received a notice from SSA concerning benefits after
I have received a notice from SSA concerning benefits after my husband passed asking me to call a number and ask for Craig Caldwell before May 3. I have tried numerous times and he has not called back… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,217 satisfied customers
My sister is in a nursing home and they are asking for her
My sister is in a nursing home and they are asking for her social seciruty statement. I have her Power of Attorney. How do I get her statement. … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I need a replacement form for my taxes. I lost my benefit
I need a replacement form for my taxes JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best. Customer: I lost my benefit totals form. JA: These retirement … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I receive social security benefits. If I die and my wife
I receive social security benefits. If I die and my wife still works;will she still be eleigible for my benefits… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
What address and ZIP Code do I use on my tax return for
What address and ZIP Code do I use on my tax return for Social Security benefits. I live in Arizona … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I need the 2017 FORM 1099 FOR MY DECEASED WIFE, MAE N.
I need the 2017 FORM 1099 FOR MY DECEASED WIFE, MAE N. MCPHAIL … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Can i get a copy of my benefit statement for 2017 and 2018.
can i get a copy of my benefit statement for 2017 and 2018 … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,923 satisfied customers
What do I enter on line 20 of worksheet 2 from IRS
What do I enter on line 20 of worksheet 2 from IRS publication 915? … read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x