Helping People With Disabilities Nationwide

Taking Social Security Disability and your retirement

On Behalf of | Aug 16, 2018 | SSD - Social Security Disability Process And Benefits |

If you’re collecting Social Security disability (SSD), you may have a question about whether or not it will affect your retirement or when you can retire. Many people choose to postpone retirement until they’re 70 years old, because this maximizes their benefits, but can you still do that if you’re already receiving disability benefits?

The good news is that you can. If you are collecting for a disability, that doesn’t mean you can’t postpone your retirement benefits until age 70. If you wait the extra four years from age 66, you will see an increase in how much you can receive, but that isn’t necessarily going to be helpful if you have no income. Disability benefits stop at age 66. So, you’ll have to go without benefits until you reach the age of 70. If you’ve saved for that, then you may be able to wait without a problem. If not, you may have to take your retirement at 66.

Keep in mind that your retirement benefits will be no different from your SSD benefits. They simply change from SSD to retirement benefits. You do have the option to delay the Social Security Administration (SSA) and ask that it not pay your retirement until 70, which would allow you to receive approximately 8 percent more money in benefits than if you had collected at 66.

The good news is that there is still a chance to maximize your retirement if you plan ahead. Your attorney can help you determine if there is a way to save or invest that could help you reach your financial goals.


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