Social Security Unveils a New Online Calculator

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I was going to wait till 66 to claim, but in doing the math between claiming now at 63 or waiting to 66, I find that the "break even" point is 16.6 years if I wait. I don't expect my health to allow me that kind of time, so I'm claiming next month.
$1688 at 63
$1992 at 66
$304 difference
I will collect $60,768 between 63 and 66
60786/304 = 16.6 years to break even

Jim in PV of CA 3:30PM July 12, 2011

My niece, was awarded Social Security Disability Benefits by Jackson County, MS in 2006. After her award of Permenant Disability Benefits in 2006, she moved to NC where her benfiits amount remained the same. Recently, she has reloctaed to California and was wondering if this move will have an effect on her bnenfits amount. Increase, decrease, stay the same?

jan clark of CA 9:56PM December 13, 2008

I've heard that a recipient may repay the total amount of benefits received after five years from Social Security, and thus start to receive a higher benefit rate based on the estimated rate for age 70.
Is this information correct, and if so, how can one look up the estimated benefit amount they would receive in this case at age 70?
Thanks,
PCM

Peter McDonald of CA 4:50PM November 07, 2008

IS THIS A FREE SERVICE ?

STEVEN H. FRENCH of IN 8:20AM August 30, 2008

will be 62 in 2012 and have 16 years and 4 mont hs with nc state hospital how much socila security can I draw last 4 yrs will make 30,000 a year

kenneth eubert Cooper of NC 8:08AM August 21, 2008

I retired at 62 and started receiving my Social Security. I needed to return to the work place because of medical bills from my husband serious illness. I was told that if I contribute
to my employer's 401 that would reduce me earnings so I would not earn more than the 12,960.00. I just received a letter from
Social Security stating I now owe 10,265.00. My question is
can contributing to 401 really reduce my earning regarding
Social Security. Help!

Suzanne Holbrook of CA 12:02PM July 23, 2008

After working more than 30 years at low-wage jobs, $1300/month from Social Security in my old age defintely seems like a ton of money. Hey, after all, it's a lot more than I actually earned smoking pot and dropping acid at Woodstock in 1969!

David Tifft of WA 9:27PM July 22, 2008

Anita - Your disability benefit would be higher than your retirement benefit (because the DI benefit isn't subject to early retirement reductions). But you have to qualify for DI, which isn't an easy or quick process. You should call SSA or visit a local field office for help.

Andrew Biggs of VA 2:01PM July 22, 2008

I have just recently turned 62. I am disabled and can no longer work. If I take retirement at 62 it is less that disability. Am I able to get the higher disablity compensation? I need to know this as soon as possible so I can determine what my next move will be. Please answer back asap. Thanks. Anita Motley

Anita Motley of AZ 1:25PM July 22, 2008