Ask Larry

How Would Winning Some Money Affect Your Benefits?

if a person who is on rrr wins some money how does that affect your mounthly earning

Hi,

Winning money wouldn't affect a person's Social Security benefits unless the IRS considered the winnings to be earned income (e.g. money won by a professional gambler). Even then it wouldn't affect a person's ability to receive their benefits if they are full retirement age or older (https://www.ssa.gov/planners/retire/whileworking2.html). I think the same rules apply to Railroad Retirement benefits, but I'm not an expert on that program so I can't say for sure.

Best, Jerry

Category: 
Posted: 
Feb 28 2018 - 10:07am
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.