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Old Yesterday, 11:06 AM
 
71,490 posts, read 71,652,652 times
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Quote:
Originally Posted by mrkool View Post
I was hoping old Mathjak would chime in here, and even told my wife there's a guy on this forum who seems to know just about everything about SS, Medicare, investing, etc. Thanks.
When you find out who it is let me know ,,, I can use a guy like that , I ainít that smart
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Old Yesterday, 11:19 AM
 
Location: Southern California native, last 20 yrs in Milwaukee Wisc.
1,218 posts, read 3,417,212 times
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Quote:
Originally Posted by mathjak107 View Post
When you find out who it is let me know ,,, I can use a guy like that , I ainít that smart

Well, if you're not smart, I dread to think where I stand in the smarts rankings.
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Old Yesterday, 11:24 AM
 
60 posts, read 11,784 times
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Quote:
Originally Posted by mathjak107 View Post
When you find out who it is let me know ,,, I can use a guy like that , I ainít that smart
LOL! Thanks for answering my question
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Old Yesterday, 11:27 AM
 
71,490 posts, read 71,652,652 times
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Quote:
Originally Posted by ElmersGlue. View Post
LOL! Thanks for answering my question
Do you already have your 35 years of earnings ?
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Old Yesterday, 12:20 PM
 
Location: Arizona
182 posts, read 111,543 times
Reputation: 734
Quote:
Originally Posted by mathjak107 View Post
Once you file game is over ..nothing else counts..if you donít have 35 years they give you zeros for those years and it reduces your average number.
They inflation adjusted your years and the Top 35 years are used ...if you lack 35 years a zero goes in for that year.
Any years that are not your highest 35 years donít count
Not true if I'm understanding what you just wrote.

Social Security recalculates benefits each year for as long as you continue to work. Those calculations only stop when you stop working. (stop contributing to SS) They don't stop once you begin to receive SS.

Years with zeroes will be replaced with income if you continue to work even though you're already collecting benefits. Other years will be replaced with higher earnings if applicable.
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Old Yesterday, 12:33 PM
 
8,187 posts, read 11,902,987 times
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Quote:
Originally Posted by ElmersGlue. View Post
what if you do not have 35yrs in and acquire them after you take early SS?

Not sure but I believe they do not count those 35 years after FRA
Quote:
Originally Posted by mathjak107 View Post
Once you file game is over ..nothing else counts..if you don’t have 35 years they give you zeros for those years and it reduces your average number.
They inflation adjusted your years and the Top 35 years are used ...if you lack 35 years a zero goes in for that year.

Any years that are not your highest 35 years don’t count
That's incorrect. If your part-time work starting to receive benefits turns out to be one of your 35 years of highest earnings (or if you simply had zero earnings in one of the 35 years used in SSA's calculation of your initial benefit, then SSA will recalculate your benefit and your monthly amount will be increased.

This is an automatic process, and benefits are paid in December of the following year. For example, in December 2019, you should get an increase for your 2018 earnings if those earnings raised your benefit. The increase would be retroactive to January 2019.


ETA: I see that Sibay is a quicker typist than I am, lol.
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Old Yesterday, 12:35 PM
 
71,490 posts, read 71,652,652 times
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Quote:
Originally Posted by Sibay View Post
Not true if I'm understanding what you just wrote.

Social Security recalculates benefits each year for as long as you continue to work. Those calculations only stop when you stop working. (stop contributing to SS) They don't stop once you begin to receive SS.

Years with zeroes will be replaced with income if you continue to work even though you're already collecting benefits. Other years will be replaced with higher earnings if applicable.
Yes and no ....if you work and take early ss they only consider you retired in the months you earn less than 1470 so you can’t collect and likely be at your highest earnings . You would have had to be a very very low wage earner for 1470 a month to be your high after inflation adjusting your older wages

After fra , then possibly it can if you can bump some lower years out
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Old Yesterday, 01:00 PM
 
2,672 posts, read 1,537,482 times
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This is what the Social Security Administration itself says
Quote:
Will you receive higher monthly
benefits later if benefits are
withheld because of work?
Yes. If some of your retirement benefits
are withheld because of your earnings,
your monthly benefit will increase
starting at your full retirement age to
take into account those months in which
benefits were withheld.
As an example, let’s say you claim
retirement benefits upon turning 62 in
2019, and your payment is $942 per
month. Then, you return to work and
have 12 months of benefits withheld.
7
We would recalculate your benefit at
your full retirement age of 66 and 6
months and pay you $1,007 per month
(in today’s dollars). Or, maybe you earn
so much between the ages of 62 and 66
and 6 months that all benefits in those
years are withheld. In that case, we
would pay you $1,300 a month starting
at age 66 and 6 months.
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Old Yesterday, 01:06 PM
 
71,490 posts, read 71,652,652 times
Reputation: 49074
Different issue .... getting recalculated for giving back earnings is as if you did not file ....so if you gave back a total of one years wages you are deemed having actually filed one year later then you did .

That is not the same discussion as bumping out lower earning years. Bumping out lower years under fra means your highest inflation adjusted wages would have to be a zero or less than 1470 x 12 months
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Old Yesterday, 03:55 PM
 
2,672 posts, read 1,537,482 times
Reputation: 2582
First you said
Quote:
Once you file game is over ..nothing else counts.
Now you say

Quote:
Originally Posted by mathjak107 View Post
Different issue .... getting recalculated for giving back earnings is as if you did not file ....so if you gave back a total of one years wages you are deemed having actually filed one year later then you did .
And that directly contradicts your first statement. And neither answer is complete or accurate.
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