Social Security question


Q. Let’s suppose you reach your 67th birthday, which happens to be my full retirement age for Social Security, and you begin to draw Social Security while you are still working past your 67th birthday. At the end of the calendar year, will Social Security recalculate your monthly payment for the next calendar year because you continued to work? Or will the Social Security monthly payment be the same forever once you began drawing your Social Security once you turned 67?
If you continued to work until 70 at basically the same wage, would Social Security recalculate your monthly payment each year up to age 70? I know I have read that some references tell you to wait until your 70 if you can to maximize your payout. Others say to delay past 62 and begin drawing your Social Security at your full retirement age. I know everyone’s cases are different, but I was curious to understand how Social Security payments are impacted if you are drawing your Social Security payments past your full retirement age and you decide to continue working.

A. Your Social Security benefit will be recalculated, if you continue to work for Social Security-covered earnings after you have claimed your benefit.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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