chewybrian 

Hey, all,

I am a fifty plus guy, but I usually just hang out in Foo. I have a couple questions about social security that I thought some of you might be able to answer.

1--How do they determine what your check will be each month? I have heard that it is pegged to your last five year's wages, or the ten best years, among other things. What is it, really? This is important if I decide to take a lower-paying job soon in order to enjoy life a bit more. I don't mind taking a small pay cut, but I am worried that it would impact my income for the rest of my life, which might make it a pretty dumb move.

2--When do you first get benefits, and what are the plusses and minuses of waiting longer to get a bigger check? (I am 55)

3--When do you incur a penalty for working while you are getting a check, and what is up with that, anyway?

As a side note, how good is Medicare, when do you get it, and how much do you pay for a supplemental plan? If you buy the plan and keep it paid up, are you covered for good, or are you still at risk of tapping out if you get sick?

(Apologies if you guys have been over this, but it's all new to me)