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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
November 16, 2016
Category:
Can I Still Use The Start-Stop-Start Strategy?
I am single, will be 66 in January 2017 and was born in 1951. Could I file for Social security benefits at my FRA benefit level, draw them for about a year and then stop/suspend them from age 67 to 70 and let them grow with delayed retirement credits? I would keep working 66 to 70 and the money from the year of benefits would allow me to pay off about $12,000 in credit card debt, some of which is at 6.7%/year and some at about 7.7% per year. After the debt was paid off, I'd want to stop the social security benefit and let it grow, and I'd have about $400 a month more for living that I'd been using for debt service .
Is that start stop start scenario allowable?
Hi,
Yes, you can do that.
Best, Jerry