@MikeL999049 wrote:
I do realize if I retire early at 62, I will take a 30% monthly hit of what I would receive at full retirement age. But if I retire at 62 and continue to work until I'm 67 making only $14000 per year. Will I receive 100% benefit at full retirement age? Or will I still have that 30% monthly hit forever because I retied at 62?
Your benefit will ALWAYS be reduced because you officially retired in the SS system at age 62 and began to draw your (reduced) benefit.
However, once you stop working at 67, your benefit will be recomputed by SSA to reflect those additional 5-years of working and paying into the SS system via your and your employer's payroll tax collections. These additional benefit amounts will be figured at the reduced rate because you officially retired early.