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Question for the Money Doctors

Question submitted on Jun 24, 2022.


I will be turning 62 this year. Where can I start learning about my social security options and what is best for me to do since I plan to continue working full time and contributing to my 401(k)?

How does Medicare work if I continue to work and have medical insurance through my employer?


Age 62 is the earliest you can claim your Social Security benefit.  However, this may not be the best idea because you will be taking a permanent discount on your Social Security benefit.   Also, if you are still working and claiming Social Security before age 67, you will have to pay back a portion of your Social Security benefit.

Accordingly, keep working so you can increase your Social Security benefit.

Also, please keep contributing to your 401(k).   I suggest maxing out your 401(k) contribution so you can build up your retirement savings.

You will be eligible for Medicare at age 65.   There are many important decisions to make regarding Medicare.

You can learn more about Social Security at

You can learn more about Medicare at

Please spend some time at 360 Degrees of Financial Literacy.

There are some great articles to learn more about retirement planning.

Good luck!

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