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Nov

9

When Should I Collect Social Security?

Filed Under Social Security | 3 Comments

Hi,  Thanks for taking the time to read my blog.  If you have any questions about Social Security, please ask.  This is a new blog for me and I will use the questions you send in for future blogs.   I will never post any ones name, or other identifiable information in my post.

You should collect now if you are 62 and earning $13,560 or less per year. If you are planning on continuing to work, Social Security will hold $1.00 for ever $2.00 you earn over $13,560 from your benefits.

Widows/Widowers benefits start at age 60

For instance, you could earn $18,560.00 in 2008 and only have $2,500 of your social security benefits withheld. This would be 2 1/2 checks if your benefit rate was 1,000.00. You would be getting 9 1/2 checks!!! Dont wait if you think you might be eligible because Social Security CAN NOT give retro benefits for retirement except in rare cases.

Please feel free to post a comment or reply with any questions. The author worked for the Social Security Admin for over 28 years.