QUESTION:

age 66 working full time, should I also collect social security and bank it?

Still working full time and plan on doing so as long as I can, I will be 66 in May of 2012. Is it a good idea to start collecting my social security at 66 and still work full time, planning on banking the social security. Would like to work until age 70. I don't know if my social payment will continue to rise due to my still working
asked by wondering, 12/16/2011
Categories: Pre Retirement, Work and Retirement
ANSWERS:
Answered by: HECM Saver, 12/21/11
Overall Rating: Be the first to rate it.

For many people it makes sense to start taking Social Security at their full retirement age based on the research by Bud Hebeler - you can read more here: http://www.newretirement.com/Answers/Bud-Hebeler/Social-Security-Taking.aspx

However if you have a long life expectancy - waiting until 70 may be better. You can use our Social Security Calculator to check your breakeven age (how long you'd need to live to make waiting worthwhile):

https://www.newretirement.com/Services/Social_Security_Start_Age_Calculator.aspx

Good luck!

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