Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.
Can applying for social security hurt a 63-year-old small-business owner?
My father is 63 years old and a small-business owner. He retired from Vought Aircraft last year and receives a pension after working there for 23 years. He also makes a fair profit from a gas station he owns. Should he apply now for Social Security or wait? What are the disadvantages of applying now? What happens if he sells the business?
www.socialsecurity.gov (and especially http://www.ssa.gov/pubs/10038.html) for more information and helpful fact sheets on your father's situation.