Ask Larry

Does the Earnings Test Apply to My Assets?

If I have money in the bank and I want to collect social security survivor benefits will they take my money under the Earnings Test? I am 64. Thanks, Deborah

Hi Deborah, the Earnings Test based just on money earned from working, including working for yourself. The Earnings Test can depend on royalty income if you engage in promoting your book or other work. But money in the bank? Not a problem. Best, Larry

Category: 
Posted: 
Jun 25 2016 - 7:15pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.