On Sun, 07 Apr 2013 08:02:51 -0400, Gary > wrote:


>
>I have one question (and I didn't see this on the SS faq) -
>
>Does your monthly income from SS go up each year that you hold off applying
>for it? If I don't do the full retirement at age 66, but decide to do it
>before age 70, would I get more for each year that I hold off?
>
>G.

The only increase, once you start to take SS, it the annual cost of
living adjustment. Couple of years ago it was $0. This year is was
$35 to $40 or so.

The longer you wait after FRA, the more you can draw up to maximum at
age 70.

If, however, you take the SS at 66 and invest it, there is another
trick you can use to increase the monthly draw. Since the money is
invested, you still have it. You pay back every penny you took, then
you reapply at age 70 and get that benefit. Meantime, you keep the
gains on the investment.