I waited until I was 70 (2021) to take my social security. In analyzing my top 35 years of earnings, for 28 of those 35 years I exceeded the Soc Sec wage based limit, the other 7 top earning years I averaged earning 75% of the wage based limit. The maximum Soc Sec for this year, for someone who waited until age 70, is $4,873. My monthly Soc Sec benefit is $4,372, 90% of that maximum. Do the 7 years of my top 35 years in which I only earned 75% of the wage base limit, really reduce my payout $500 a month from the max? I have called Soc Sec and did not get much help. I noticed that for the 1st 3 months of 2024 my benefit has not changed, even though last year I exceeded the wage based limit in earned income. By the way, I am self employed and still work.
Statistics: Posted by Allan — Sun Mar 17, 2024 8:26 am — Replies 6 — Views 302