Ask Terry Questions Collect Social Security to Pay Mortgage

Collect Social Security to Pay Mortgage

By Terry Savage on July 18, 2019 | Financial Planning / Retirement

I’m 68 years old still working. Have 200,000.00 still left to pay. Can I collect social security while still working and would it be good to take and put toward mortgage?

Terry Says

Well, you have reached full retirement age, so you can collect Social Security without penalty. You’ll get more if you wait until age 70 to collect!  Are you able to handle the mortgage out of your current income?  If so, wait to collect SS.   But I’m guessing there are some other financial planning issues you need to deal with.  And you haven’t told me whether you’re married, have other obligations, other investments.  So maybe you should have a visit with a FIDUCIARY financial planner — one who puts in writing that they will put your interests first, and fully disclose all fees and commissions.

The first meeting should be free.  Search for a Fiduciary fee-only financial planner at

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