Hello Joseph; Iโd like to help you, but Iโm not sure where to start. Maybe if I share my particulars, within the rules of Social Security, that may help you.
So, I contributed to the Social Security system for 45 years - 1970 through 2015. I was born in 1954. That means my full retirement age (FRA) is 66. I could have taken my benefit at 62. I didnโt.
Youโre monthly benefit is always based on the highest 35 years of earnings. That sounds easy, but weโre talking about a government program. Youโre annual earnings are multiplied by a factor. That product then ranks your 35 highest years. After that, there are still a number of calculations needed to get to your FRA monthly benefit amount. Once you know that amount, multiply it by 0.75 to determine your monthly benefit amount at age 62.
Now, the simple question I have for you is are these 50k a year the result of work? If not, then that will not become part of the equation. So your benefit will be calculated based, in part, on the 100k salary you made before you retired.
I strongly suggest that you get a user account on the SSA website. I did and was able to work through these steps. Hope this helps. Let me know if you have other questions.