Working two extra months gets my wife social security

28 thoughts on “Working two extra months gets my wife social security”

  1. Great article! I signed up online after reading it, and it was great to know where I stand with Social Security benefits (and I am much closer to benefits age than you are!). Thank you for sharing the information.

    1. You are welcome, and I appreciate the kind words. It’s always nice to have that extra level of satisfaction that all that money you’ve been forced to contribute to social security over the years is accounted for – at least on paper. 🙂

  2. Neither of us will be eligible, which is why part of our “early retirement” plans include doing something that makes just enough for us to get our credits each year. My father in law is a CPA and he says he has several clients that retire and don’t get social security because they work in an industry that doesn’t pay into social security (local governments, train companies, etc.), so they become greeters at Walmart just to get social security. That sounds like a horrible option. We plan to do something more fun! 🙂

    1. Hi Maggie – I wish my industry didn’t pay into Social Security…I’d have so much more net worth at the moment had I been able to devote those funds into my retirement account. But alas, I had no choice in the matter. 🙂

      I have no doubt that your plan will be much, much more fun!

  3. Sounds like a plan. I unfortunately don’t get much for social security. Most of my working life I have been a government employee and live in a state where we are exempt from social security. Therefore, I have only one of the three legged retirement stool to stand on. It is great that you will have at least two of the legs.

    1. That’s the thing – I wish that I was exempt from Social Security! I’d have significantly more net worth at the moment if I was, and I could use it how I see fit early on in life without waiting until 65. I definitely wish we could trade places in that regard. 🙂

  4. Thanks for breaking this down! At least you guys figured this out now, and not after you both quit your jobs! We created accounts and are all set with our credits. Of course, they factor benefits based on your top 35 earning years, sooooo… There will be a lot of zeroes factored into that average! But some benefits are better than none. 🙂

    1. Yup, I agree ONL – social security is a shoddy deal to begin with, but as long as we get back at least what we paid into it, I’ll be happy. Yes, when it comes to getting benefits from the government, my expectations are quite low. 🙂

  5. It is a good thing you discovered this now and not years later. We found something similar with my wife’s pension plan. If she works until November 2016 she is fully vested, can draw immediately if she wishes, and will receive assistance on our medical insurance. If she leaves work one month earlier, she has to wait until age 62 minimum to draw on her pension and receives no discount on insurance. The fact that she is retiring years ahead of most, waiting a few more months is a huge incentive to wait.

    On a positive note, since I am in my early 50’s I have the SS locked up with the number of quarters I have worked. (My wife does too) Finally – something good about getting and being older. 🙂

    1. Yup, it’s always wise to make sure that the money that has been set aside in your name is still yours even if you retire super early. We nearly made that mistake.

      Thanks for reading!

  6. I’ve been keeping an eye on the number of quarters I have for Social Security. I need to work through the end of 2019 to have enough to get it when I retire! Speaking of Social Security, I will finish paying into it with my end of month October paycheck! That’ll give me an “extra” $1,300 or so to pad my savings accounts at the end of the year. That’s always a nice little bonus for the last few months of the year.

    1. Hey Leigh – amen to that! Nothing wrong with a little bonus at the end of the year, that’s for sure. Extra money to invest. Extra money to grow! 🙂

  7. I just looked at my account to see if I have enough credits, and apparently I do! Apparently starting work at 15 on the books was a smart move! I would definitely work the extra two months to get there if I had to.

  8. That is really great that you caught that ahead of time! We are both safe – I think we are a few years older than you. But, its great you are writing about it – I don’t think I’ve ever seen that mentioned in the FIREosphere thus far!

    1. Thanks Mrs. SSC – I haven’t heard much about it either, honestly, so thought that I’d write about it. Glad I did, and even more glad that we discovered this potential problem before it became one!

      Thanks for reading, as always! 🙂

  9. Interesting. My career is advanced enough that this isn’t a concern, and I hadn’t given it any thought. When it comes to Social Security, I’m more worried about the macroeconomic risks, like will something consuming 26% of the government budget and rising still be solvent in 20 years, and still be able to pay sufficient money with COLA to be a measurable contribution to my retirement income.

    I’m not holding my breath.

  10. They mailed me something similar not too long ago…basically the same thing, but I thought it was odd at the time. Definitely worth working a few more months to get some of that $$$ back…hopefully.

  11. Just found your site and have been reading through it. Like the content 😊. I looked up my credits and was surprised I had enough given I’m a gov’t employee and don’t really pay into it b/c of my pension. But, I’m curious how much the amount we receive will shrink from retiring early.

    1. Hey Sam – yeah, it’s tough to estimate the benefits after so many years of unemployment. Luckily, we won’t need SS when the time comes, so anything that we do get will just be icing on the cake. 🙂

  12. Note that it also takes 40 credits to qualify for Medicare, otherwise you must pay, and it ain’t cheap. I would consider qualifying for Medicare to be potentially more valuable than the Social Security.

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