was planing on retiring in July.

ladypeewee

Now not so sure. I got a raise at work going from $12.17 Hour to $14.50 Maybe $15.00 My question is this If I worked one more year would that make my SSA  go up. or would I have to work 2 more years for it to make an impact on the amount I can draw.

Cynbar

Yes,  your benefits go up the longer you work (up to the age of 70). Plus, it is based on an average of your highest earning years, so getting a raise helps. If you go on to the Social Security website and set up an account, you can look at your figures.

Quilting brings calm

Given that you lose over 25% of your SS monthly amount by retiring at 62 rather than full  retirement age ( 66 or higher now), you would gain possibly 8% for every extra year you work, even without the raise.  A year at a higher salary would figure into the calculations since they use your 35 highest income years in the base  calculations. The social security website has an online estimator that you can enter various scenarios into. 

I remember your post where you mentioned the actual amounts.  8% would  be important to you since you have no retirement savings.  

Here is something else to think about- go see someone knowledgeable about Medicaid - but only for PeeWee.  You can apply for him without applying for you.  Which means your income and home and car would remain yours.  I also remember the amount you said was his income. He probably qualifies  and then maybe they would pay for the caregivers that you have already said you have trouble paying for. I truly have no idea if it’s a good idea, but doesn’t hurt to get more info about it.

Jo C.

By working, you will also have your own health insurance which can be priceless as things do happen even if healthy; not to have health insurance is a significant risk to yourself not only if needing hospitalization, but even for doctor's office visits, required tests, etc.

I would certainly think things over again; and of course as said, the longer you work, the higher the SS benefits. If one waits, it can bring in $500 more per month.

Call the Social Security office, or use their online tool for figuring out your options.  Never overlook yourself when making such decisions.  As it is, the odds are that you will outlive Peewee due to his advancing disease and it is important to look out for yourself both now and as you age.  Think of this decision in long term realities; not just the short term today issues. 

J.

ladypeewee

Thanks everyone for all replies. I was informed that the raise I will be getting is going from $12.17 to $14.50 an hour. If I retire in July My social security check would only be little over $600 a month . I will be 62 in July. I will check out the SSA calculator. This year will be my highest paying income. I know this is not written very well but anyway I hope I am getting my point across.

 Peewee Has Medicare.