[clb62]

I am a baby boomer and eligible for early retirement in 18 months.Is it beneficial for me to do this and still keep a full time job or wait till 66? It looks like I would be able to keep very little of ssi!! Is there any way to collect and invest so they do not get it all back?

Ben Benson

[ebaines]

If you don't need the SS income right now, it is probably best to wait to age 66 before starting to collect your SS. As you know, the closer you are to full retirement age before you start collecting the larger your monthly checks will be. Presumably the total expected payout to you is the same, so assuming you live to collect for precisely your life expectancy, it should be a wash. However, you could have course live significantly longer, and I think the risk of inflation makes it better for you to wait (assuming that right now you can afford to do so), so that you get a larger check for the rest of your life.

[AtlantaTaxExpert]

Agree that the onger you wait, then more you get.

However, you must consider tax aspects, as Social Security benefits ARE taxable if, combined with other income, your total income exceeds about $25K annually.

I would need to know how much you would get and how much your salary would be to give you precise advice.

I would also charge a fee for such modeling.

If you are interested, contact me at the email address below.

[dolittle17]

I am nearing 62 and would like to know if it would benefit me to put in for my retirement
And still work full time I need to be able to have the health ins.

[dolittle17]

I am nearing 62 and would like to know if it would benefit me to put in for my retirement
And still work full time I need to be able to have the health ins. Thank you

[AtlantaTaxExpert]

There IS an offset on your Social Security pension for income earned after age 62. The offset goes away when you hit your full benenfit age, which is smewhere between ages 65 - 67.