I am 64 and receive $997.00/month SS. What am I eligible to earn during the year so I don't loose my benefits.

Hi,

Hi Larry!
Nearly, two years ago, I started to collect Social Security benefits due to an extended unemployment period and some, at the time, worrisome health-related issues. I was 62 at the time and now I am almost 64 and I am soon to be offered the job of a lifetime with a six-figure income. What happens now?
Thanks, in advance, for your time and consideration!
Best Regards!
LEE

Hi Lee,

My wife's birthdate is April 1951. she has just applied for her social security as she has reached FRA. My birthdate is June 1951. Upon reaching FRA in June I was planning to file and suspend my benefit and then apply for my spousal benefit allowing my benefit to grow till 70. When she went into the SSA office, the employee told her that I could do that but my benefit amount would be affected if I was still working full time which I was planning to do.

I am 69, retired and currently receive full social security benefits, can I return to work fulltime and continue receiving my social security benefits? Are there penalties involved?

Hi,

Yes, you can. There is no limit on earnings once you reach full retirement age (https://www.ssa.gov/planners/retire/whileworking2.html). There wouldn't be any penalties that I can think of, other than potential additional Social Security and income taxes.

Best, Jerry

I started drawing at 65. My husband just passed away at 80 years old so I'm switching to his so. If I want to work part time is there a income limit? I'm 68.

Hi,

I'm sorry for your loss.

There is no limit on earnings once you reach full retirement age, so you can receive your Social Security benefits no matter how much you earn.

Best, Jerry

I am turning 66 in Sept 2017, still working, if I begin taking SS benefits 9/1/17 at full retirement age, will I be penalized for the first part of the year that I worked.

Hi,

No. You can be paid starting with the month you turn full retirement age, regardless of how much you earn before or after that. You may want to consider running the maximization software available on this website before you file, though. You may have better filing options available to you.

Best, Jerry

I am retiring from teaching school this year in may I am 63. This year I have made 37,000 dollars teaching school that is paid up until August. I have applied for social security . Will I recieve a full payment in september or will it be lower because of the 16900.20

Hi,

You can be paid your full check for any month in which you earn $1,410 or less this year regardless of the amount of your total earnings for the year (https://www.ssa.gov/planners/retire/rule.html).

I will begin receiving a Child in care spousal benefit in October, 2017. I am 59. I am currently working and will have earned around $70,000 this year up to that October starting date. Will those earnings be considered for the Earnings Test this year or will they only consider my income from October through December in determining whether the test will limit or eliminate my benefit?

Hi,

I am 62 and have (100%) owned an S Corporation since 1994. My wife is 67 and began collecting SS in 2011. Recently, my wife began working with me and, in 2014, we split the ownership 51%/49%. Let's say the corporation has net income of $26,314 and I pay myself a $3,500 salary; my wife a $3,500 salary and take draws (not dividends) from the corporation. This is our only source of income. Questions: (1) I understand the concept of earned income.

I started receiving widow's social security benefits, when I was 62 years old, in 2014. This July (2017) I will be 65, so my full retirement age is 66. I am suspending conversion to my own benefits until age 70 because at the time when I began collecting Social Security, my widow's benefit rate was higher than my own. Eventually, by suspending collection the accrued increases from my own benefits will surpass my widow's benefit rate.