Will the COLA increase my benefits even if I wait to collect them?

Full question: I am 67 & 2 months. My expected earned benefit will increase by about 8% if I wait until Jan 2023 to claim my benefit. Will my benefit also be increased by the expected 8% + COL ? In other words, would I receive both increases? Hi there, Yes! After Full Retirement Age,…

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When is the best time to get RSSA advice on retirement and Social Security?

Full question: When is the best time to get RSSA advice on retirement. I’m disabled and 62, my husband is 67 but plans on working until 70. Hellol, It is always best to consult with an RSSA sooner rather than later! Reason being is that you would not want to miss out on benefits if…

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How do I determine what my Social Security amount would be now?

Hello there, Social Security benefits are based on your highest 35 years of indexed earnings. You can find a benefit estimate on your Social Security account, but for more accurate results you can calculate your earnings. If you need assistance finding out what you will be eligible for and any rules that may impact your…

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Will my benefit decrease for retiring before collecting Social Security?

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…

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When should I apply for my Social Security benefits?

Full question: I will be 62 in 8 months, when should I apply for Social Security? Hi there, Everyone has a unique situation when it comes to collecting Social Security. There are many factors to consider when deciding the best time for an individual to file for benefits including, but not limited to life expectancy,…

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How do I cancel my Social Security application?

Full question: How do I cancel my SSI application? Hello there, To begin, I want to clarify that SSI stands for Supplemental Security Income, not Social Security Income. The SSI acronym is commonly mistaken for Social Security. To cancel your SSI (Supplemental Security Income) application, fill out Social Security Form SSA-521. Include the reason you…

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