- How It Works
- ServicesServicesOverviewChoose the right level of support for your plan and needsExpert ReviewA comprehensive review of inputs and reports to get you on the right pathFiling AssistanceLet our experts deal with Social Security for youClawback AssistanceFor those who need help fighting a Social Security benefit clawback
.png)
- Why Choose Us
- ResourcesResourcesBooksFrom the world-renowned economist behind Maximize My Social SecurityWebinars & PodcastsExpert tips and guides to help you get the maximum from Maximize My Social SecurtyArticlesIn-depth commentary on Social Security from our founderAsk LarryThousands of questions answered by our Social Security expertsBlogSocial Security insights to help you maximize your lifetime benefitsFAQYour most pressing questions answered
- Pricing
Ask Larry
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.
Will My Benefit Rate Continue To Grow If I Start Drawing My Benefits?
I am 66 (FRA) and still working full time. If I start drawing my Social Security now will my benefit continue to grow and if so how much? Or would it just be better to wait until I retire to draw?
Hi,
Your retirement benefit rate might continue to grow as long as you're working, but only if you earn a higher amount in a current or future year than you did in one of your previous highest 35 years of earnings that were used to initially compute your benefit rate (https://www.ssa.gov/pubs/EN-05-10070.pdf). However, once you start drawing your benefits you will stop earning delayed retirement credits (DRC), which would otherwise increase your rate by 8% per year (https://www.ssa.gov/planners/retire/delayret.html).
You should strongly consider using our maximization software to compare your options and determine your best strategy.
Best, Jerry
Category:
Posted:
March 7, 2018