Joined May 2004
L6: Expert
Forum Thread
Should I go back to work? How does SS work?
June 15, 2024 at
12:42 AM
Thread Details
Hi...
I "retired" aka "stopped working" in 2020. But recently learned that Social Security uses your top 30 income years to calculate payments? I only have 27 years of work history.
Not sure what the actual calculation is... Do those three years make a huge difference? Enough for me to actually go back to work for 3 years? If it matters, I am 54.
Most importantly, I don't NEED 30 years to qualify, right? Its just that if people have more than 30, only the top 30 count, correct? Its NOT that if you have less than 30, you get nothing? If the latter, then obviously I need to get a job asap LOL
I did have a few years from JHS and HS where I worked summers/winter breaks and paid into SS. Is that enough? I made like $5 an hour back then, so while its not zero, its pretty close, lol.
Is there a resource I should look to for more info?
Thanks in advance!!
I "retired" aka "stopped working" in 2020. But recently learned that Social Security uses your top 30 income years to calculate payments? I only have 27 years of work history.
Not sure what the actual calculation is... Do those three years make a huge difference? Enough for me to actually go back to work for 3 years? If it matters, I am 54.
Most importantly, I don't NEED 30 years to qualify, right? Its just that if people have more than 30, only the top 30 count, correct? Its NOT that if you have less than 30, you get nothing? If the latter, then obviously I need to get a job asap LOL
I did have a few years from JHS and HS where I worked summers/winter breaks and paid into SS. Is that enough? I made like $5 an hour back then, so while its not zero, its pretty close, lol.
Is there a resource I should look to for more info?
Thanks in advance!!
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That said my car/home insurance and property taxes along with health insurance costs are a pretty big expense.