The National Directory of Certified Public Accountants

Ask A CPA - Social Security

Social Security - Retirement Before Age 62

When the social security administration averaged out your 35 highest years of earnings to estimate your benefits on your social security Statement, it was assumed you would continue to work up to age 62, making the same earnings you made last year. If, instead, you have zero earnings each year over the next 6 years, your average earnings will probably be less and so will your benefit. You can use the Social Security Benefits Calculators to see how this will affect your monthly benefit amount. The Social Security Benefits Planner is located at http://www.ssa.gov. In addition to using the SSA website, you can call SSA toll-free at 1-800-772-1213.

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