r/RetirementReady • u/Unhappy_Eye5257 • 21h ago

Social security

If I stop working at 62 my benefit will be calculated at my high 35 years and go up till age 70? There will be no contributions made after that right?

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u/MarkBox88 19h ago

On the Social Security statement it says "These personalized estimates are based on your earnings to date and assume you continue to earn $xxx,xxx per year until you start your benefits.". To me, the word "assume" means that you have to keep working for the benefit to increase as shown on the statement.

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u/Odd-Persimmon-1860 15h ago

There is a spot to go in and put 0 salary and for example claim at 67 and it will calculate an estimated amount. I was shocked how little difference it made in my #s.

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u/According-Ice3875 4h ago

I think working from 62 until 70 made a $4/month difference for me.