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IF you retired early at 62 on Social Security, How best to obtain ANY additional S.S. to your monthly check?
10 Answers
- ninasgrammaLv 76 years ago
If you earn wages or self-employment income after starting Social Security, that income is used to re-compute your benefit each year. This is true no matter how old you are. However, in any year before full retirment age, you will have to pay back $1 for every $2 you earn over the yearly limit (currently $15,720).
You can also look into reduced Medicare premiums if you receive Medicare. Low income individuals may qualify for reduced premiums, which will raise the amount you receive monthly from SS because you will pay less for Medicare.
- Bostonian In MOLv 76 years ago
Go back to work. There's a Catch-22 though. Earn more than $15,720 and you'll lose $1 of benefits for each $2 over that amount. The upside to that is that the amount lost will be taken into consideration when you reach full retirement age and your benefit will be increased at that time.
- ?Lv 76 years ago
There are none unless some sort of medical issue an be claimed but only an expert could answer any questions. Once started, that is it.
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- Anonymous6 years ago
You can't unless you go back to work.
- ?Lv 76 years ago
If your benefit is below the federal poverty guideline, you can also get SSI which is welfare to bring your benefit up to the poverty baselline.
- troLv 76 years ago
keep working, what you have withheld on any current employment will increase your benefits some