Dr. Victoria D. Coleman left a comment for Dumont Gerken Owen, Ph. D.
Diane Owens left a comment for Dumont Gerken Owen, Ph. D.
Dumont Gerken Owen, Ph. D. left a comment for Diane Owens
Dumont Gerken Owen, Ph. D. joined Martin D. Diano's group
Dumont Gerken Owen, Ph. D. left a comment for William KnegendorfBy the time many of my clients reach 50 or above they have experienced a lay-off, extended unemployment, intermittent work history or other “spots on their record.” Worrying about negative references or your professional reputation is one of the best ways I know to stop your job search before it begins. This is not to say that your concerns are not realistic, but the following tips may help you neutralize any negative impact from your past employment history.
Posted on March 23, 2011 at 10:00am
Dr. Victoria D. Coleman said… Hi Dumont:
How are you?
I look forward to participating in the Career Network.
Have a great day.
Vicki
Diane Owens said… Dumont,
Your situation is not uncommon, but there is hope. If you continue working, your Social Security benefits will likely be higher since the amount is based in part on the average of your highest 35 years of earnings under Social Security. If your current and future earnings increase this average, they will result in a higher benefit when you do retire.
In addition, if you wait to apply for your Social Security beyond your full retirement age you will qualify for an increase in your monthly rate equal to 2/3 of 1% for each month you delay up to age 70. This is equivalent to an 8% increase in your benefit rate for every 12 months you delay. Whether this would be advantageous for you depends on several factors including your health, life expectancy, potential eligibility for spousal benefits and your marginal tax bracket now and in the future.
All my best,
Diane
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