To boost Social Security benefits, know the rules
Posted on 18 January 2012
By Mark Miller
Permanent URL of this article: http://retirementrevised.com/money/to-boost-social-security-benefits-know-the-rules
When the oldest baby boomers start turning 66 this year, they’ll be eligible to file for full Social Security benefits. But pollsters say many Americans plan to work well past that age, reflecting tough economic times and a general desire to reshape the idea of retirement.
What will working longer mean for the Social Security benefits of these seniors? How about Medicare, which has filing rules that are closely linked to those of Social Security and employment status?
These are important questions for a large portion of the U.S. population; about 10,000 seniors will turn 66 every day over the next 20 years. Social Security and Medicare both have detailed rules governing the interplay of work and benefits, and making the right decisions make a difference of thousands of dollars in enhanced Social Security benefits or the Medicare premiums that you pay.
I’ll be looking at how work and entitlement benefits are intertwined in two columns, starting today with Social Security.
