Full question: I retired at age 60, since I am no longer working will my benefit amount go down for the years not worked before I start collecting Social Security?

Hi there,

Your benefit amount is calculated based on your highest 35 years of earnings both indexed and face value. If you worked less than 35 years, the Social Security Administration will include zeros for years with no earnings.

The estimated amount shown on Social Security statements is often inaccurate due to Social Security’s assumptions and the way they estimate benefits.

An RSSA can help you understand what your benefits will be at all claiming ages and educate you on any rules that you should be aware of that affect benefits to help you maximize and optimize your benefits.

Take care,
Martha

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