When Does Railroad Retirement Go Away and Social Security Begin?

Welcome everyone to another edition of the Highball Advisors Railroad Retirement Mailbag. My name's John McNamara of Highball Advisors and today's question comes in from a Mark C. and he asks, "How long can you work outside of a railroad job and still collect Railroad Retirement before it goes back to social security?" So I highlight this one because I'm a little bit confused by it, that whole go back to social security statement, but that's the things that we have to work out, right? I've got some Railroad Retirement years, I've got some social security years. How does that all interchange? So just a couple of points: can't start Railroad Retirement if you're still working for a railroad, all right? Outside the railroad, you can start it as early as sixty-two, if you have less than 30 years.

My suggestion is always look to start your Railroad Retirement. Pull your social security statement, see what that number's going to be at 67, 68, 69, 70 where those delayed retirement credits come in. And if you did some railroad service, remember you need the five years of vested railroad service to collect the Railroad Retirement. Check out my video Choosing Between Social Security and Railroad Retirement, Which One is Right for You? And that will go through a lot of these issues for you, Mark. All right?

So Railroaders, please send in your questions. I'll shoot a video on them. Until next time everyone, please stay safe, stay on track, and take care. So long everybody. Bye.

Associated Video: "Choosing Between Social Security and Railroad Retirement; Which on is Right for You? https://youtu.be/3fMCdYofCic

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