Working While Receiving Social Security (The new 2023 rules)

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Title	:	Working While Receiving Social Security (The new 2023 rules)
Lasting	:	10.17
Date of publication	:
Views	:	1,8 jt

Do you think we should have an earnings limit?
Comment from : Devin Carroll

No limit on earnings after full retirement but the IRS will step in and make you pay taxes on your social security if your still working
Comment from : Steve Day

Wow, long road to go here Both of us are turning or have turned 62 this year & have good paying jobs from May to October as we are full-time RVers We are facing winter unemployment benefits that won't pay our bills & declining health by one of us that will eventually lead to total disability The hard part is in determining our 8ndibifual situation, no grandkids to support at least, lol
Comment from : Davey - KU9L

Guess y’all need to vote in 2024 for a better economy
Comment from : Mary Stewart

Playing the slots or winning at the casino is that earnings income It’s hard to predict if you will win and go over the amounts allocated
Comment from : Krystal

Hi I am collecting Security and working do i still pay social security from my earnings and will this increase my social security check I have retired at full age
Comment from : Milagros Casasnovas

This is such BS What about early retirees who were doing well but had to go back to work because of Bidenomincs???
Comment from : Tick Tock

How stupid of the government!
Comment from : Peter Kennedy

So what about the year you retire, how much can you make that year you plan on starting SS
Comment from : Ken Gruver

This is my fifth year after retirement I’e been following the 4 rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried
Comment from : Jamie Jeff

If i work part time at 62 and make the 21,200 limit per year will that amount made yearly be used to calculate my remaining benefits yearly benefits using the 35 year rule on earnings ? so my earnings may possibly increase?
Comment from : JP

I will be 62 years old this September My husband passed away 2014 , 9 years ago I am thinking of semi retiring and to collect SS benefits I went to a SS office early this year and I was told I can apply for a spousal benefit cause my husband definitely earns more than I do Is spousal benefit same as survivor benefit ? I still plan on working …I know that if I start collecting his benefit I do have a limited income monthly Need some advice here…thanks …what is the difference of a spousal and a survivor benefit if there’s any?
Comment from : Fides Reed

69, getting Social Security, Military Retirement and working They withhold nothing and I am married We should all get together to sue the Federal Government for double taxation SS was a tax withheld from our pay and we are taxed again when we start collectingthat is EXTORTION!
Comment from : Ross Photography

Thanks good
Comment from : Ray Bruneau

Hi , I’m a survivor and would like to tap my deceased wife benefits because hers is higher than mine I have an income on my business I’m 66and 6 months on my retirement age will there be a penalty?
Comment from : Dennis

how much can you earn after getting survivor benefits how many hours are you allowed to work each week thanks for your help
Comment from : Darren Farrell

What if I reach full retirement age Jan 01 2025 how does the calendar year work for the part where the limit becomes 56,000?
Comment from : OI JOSUKE

What is shocking is the fact that we have let the government gain this much control over our lives
Comment from : Kenneth Delk

I watch several YouTube videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
Comment from : William Ethan

There are no earnings limits if I’m at the legal retirement age?
Comment from : Michael McGregor

This limit should be jacked up by 100 by now It just seem they (gov) want you to be poor either way
Comment from : AK P

Pleas help me, I have been able collect widow benefits and work I am retiring this month May I be able to work a pt job, and not be penalized
Comment from : Donna Harding

My original retirement plan was to retire at 62, work part-time, and save money However, high prices for everything have severely affected my plan I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before
Comment from : Edna

I start collecting social security at 65 years old as 2023 born December I will be over my earnings limit bay 5000 question is they will hold 2500 all at one's all could be same of the monthly check
Comment from : Alice Guevara

There are the greatest financial people on YouTube- Lane Martinsen, Josh Scandlin and of course, Devin Carroll :) People who are entertaining and enjoyable to watch while learning these topics Thank you dear sir for your expertise, you;re the greatest Devin !!
Comment from : Melissa

What if you retire before full benefits and are subject to the monthly earnings limit and you have net negative earnings comprised of the sum of positive W-2 income from self employment and negative net income from a company you own? The result is negative earnings vs the monthly limit of $1770 Is this the correct calculation for the earnings test? Will 100 of benefits be received?
Comment from : agblake76

what about income from a rental unit or renting out a room? does that count as income
Comment from : sharon dunn

I have a question, what is the 45 hour a month rule for self-employed people? It says if you work more than 45 hours a month you won't get benefits for that month Does that only apply to the first year you collect benefits? What if you work 100 hours a month and still make less than $21,240 a year?
Comment from : 777dingo

999 comments on the wallbrbrThanks
Comment from : James Alles

I think I'll file to collect at 67 and still work full time while throwing the SS into the bank for later years; I'd like to work till 70 I'll have to see how the economy is doing
Comment from : Carroll Prescott

Just the fact that the government/ss thinks you getting $800/ $1500/ $2000 for SSI is a substantial lifestyle is a FN joke Every retired American Citizen should recieve $3k to 6k depending on your job skill all your life While they collect a pay 5 times what they drop to you Stop all pork barrel spending Drug war,Ukrainian payments, illegal immigrants getting 3k a month,disability for those that can work, and welfare And that $3k to $6k is feasible
Comment from : StormTrooper

YOU SHOULD NEVER BE PENALIZED FOR WORKING AND COLLECTING WHAT YOU EARNED IN THE FIRST PLACE GOV JUST GIVES YOU ENOUGH TO BARELY LIVE ON WHILE OUR TYRANTS LIVE LIKE KINGS AND QUEENS WHILE GETTING INSIDE TRADING DEALS MONEY UNDER THE TABLE TO PASS RULES FOR CORPORATES TO GET RICHER AHHH SCREW GOV LIVE OFF THE GRID OF GOV GO BACK TO NATURE GOV IS SCREWING THEIR CONSTITUEINTS LEFT AND RIGHT brbrTHANKS
Comment from : RIGHT FO4 VETS

If you are receiving Social Security and getting $1,130 never work but you want to start working part time with the help of the Regional Center that helps disable people can I still keep my benefits for my Social Security payments and still work part-time
Comment from : Rene Rodriguez

I have a couple question- when SS says what you make in a year do they mean Jan to Jan or Birthday to Birthday, what is a year in SS talk Also my Birthday is in July so if a I sign up will they use my income so far this year or starting in July because Id like to start my SS in July but from Jan to now Id be way over for the year I dont want that Should I wait till end of year to apply Oh Im going to be 62 in July Thanks forany help
Comment from : Lorrie Marchael

I am 68 and still working (not retired ye) If I collect the social security benefits while I am working, I can be subject subject to income limitations Should I wait until 70 to collect the max of social security? Or should I retire I make over $180k and my wife over 130k By the way, I have been working for the government for 36 years
Comment from : Nouhad Khalil

Since I am a very high six figure wage earner and don't plan to retire anytime soon I waited until I reached FRA to begin drawing my SS benefits By doing so I get my full benefit regardless of any other income I earn and I put my SS benefits straight into high yielding investments which, among other things, includes maxing out my 401K (which my company matches up to 5 of my contribution) and Roth IRA contributions according to IRS guidelines Those investments (mostly tax sheltered) by far exceeds any difference in the increase in benefit payments I would have gotten delaying SS benefits beyond full retirement age I don't see a logical reason why anyone should delay once they have reached FRA to begin drawing benefits IF they continue to work beyond full retirement age while earning a meaningful income that maintains and sustains their needs and life style Far better to begin drawing SS benefit payments when FRA eligibility is reached and invest those earnings into relatively high yielding and safe investments until they stop working If done properly, it will leave them in a much stronger financial position than they otherwise would have been as they begin dipping into their retirement savings when and as needed
Comment from : Michael Manjin

Investment in stocks is a great way to invest your money The team is constantly checking the market for changes and make sure that you are always informed about the best time to invest As a result, I have made more money than ever before, and I don't have to manage my portfolio on my own! Invest in stocks, it's worth it!
Comment from : Jane Patrick

Does this apply to Widows benefits? Im 65 and have worked full-time/self-employed since January but did not receive the benefits until June 2023 I plan on reducing my work to part-time now Is that ok? It took 6 months from the time I applied for them to process my claim I had to keep working I will be 66 in November and reach FRA in 2024
Comment from : Brenda Mack

Devin, Thank you for your videos, very informative I retired this year (June 2023) I have gross earnings through May of this year of $30k that should not be considered due to the First Year Special Rule However, I will continue to work part time and I am VERY aware of the $1770 monthly limit My question is: Given that a W2 only reports annual income, how (end of year tax form?) and when do I let the SSA know what I earned from Jan - May and the subsequent monthly earnings to follow? My nearest SSA office is 80 miles away and phone calls to the SSA are life-crushing (2 plus hours at times) The SSA reps do not seem to know how to answer this questionbrJim
Comment from : baberdog2002

I watch several youtube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
Comment from : Donna Brannan

is social security earnings included
Comment from : Robert Whitfield

The Cheat Sheet you provided is an excellent resource! Thank you!
Comment from : NWPA

Why would anyone collect SS while working unless you are 70 or older???
Comment from : Lee Reader

What's up with so many adds wanting me to answer questions to accept a Unused recent benefit of FREE dental benefits like crowns implants etc etc ???? Yet many many times I've clicked on that and filled out a survey that only leads to more surveys and question answering and more adds brSo, Is there such a Dental benefit extra that is available or not???
Comment from : davwht9

My FRA is Feb 2024 I was thinking of starting SS collection in Sept 2023 Not a big difference what would it be a good decision?
Comment from : Donnie Smith

I just turned 62 today may 23rd I filed on March 3, I was told yesterday that I could not start collecting, I still work and make 36,400 I'm so confused I did the math and I should be eligible for 684 a month
Comment from : CHARLES COOPER

So I was born in 55, my wife in 56 We operate our own small business and are planning to continue working We want to both start collecting SS to help pay off our mortgage We are both past full retirement, so if I understand you, we can earn as much as possible without penalizing our SS benefits Is that correct? We have been in business since 1987 We incorporated (S Corp) in 1993
Comment from : Waldorf Martial Arts

Does self employed count for the monthly of 1770 or yearly for 21240 in Survivors handbook it says you can’t work more than 45 hours a month I wonder does that mean whatever one comes first if you reach the 1770 monthly or the 45 hours that might also know physical hours I actually work because you can be on a app but if your not on a active order than you can run the app continuously because until you accept an order you don’t make money am not at FRA yet of course I have got no where near the the yearly amount but am so confused on this being self employed I look at your videos all the time to get other answers but these questions I really need help also may I add a lot of orders only be an average 1 hr to 2 at the most what ever app your on excluding Amazon Flex I would say please help me with this 🤔
Comment from : Robin Hudson

You said the income limit chages when you hit the FRA retirement year MY FRS is 66 and 6 I hit 66 October of 23 and my FRA April of 24 When does my earning limit change? is it when I hit 66, or January of 24? Or does it change the April prior to my FRA?
Comment from : Jeffery Green

I went over the limit by about $10,000brMy full retirement age is 66 1/2 and I’ll reach tgst six months from today…as I continue to work I’m contributing to SS through payroll deduction where does that money go?
Comment from : Sharon Alexander

After 6 years after retiring/SS started a 20 hour work and have been paying in more each year So I cut hours to 12 a week So if you live in Minnesota they will find ways to tax you but only if you are alive State had 37 billion surplus and they loved it!
Comment from : LA Raust

I am still working but I would like to start taking my Social Security at the age of 62 I also have a Roth 401(k) and a Roth IRA account Will Social Security tax me on my 401(k) and Roth IRA account or will they even care? Are they going to want to know my total income even though it’s both Roth IRA accounts if I take SS at 62 ?
Comment from : Silver Honda

I kicked off SS 2 months after I turned 62 and stopped trucking that year due to a workplace injury I got a year vacation with workman's comp and SS, once I was medically cleared, I moved to the Philippines I wouldn't have had much of a retirement in the US, but over here, I'm living great
Comment from : telcobilly

I went over and social security wanted 3 $ for every 100 I made over there allowed amount brI had to file bankruptcy It's not one dollar It's 3 dollars ! For every $ over
Comment from : My Peeps

Right now I going to search for SSI work
Comment from : Tamara Nichole Francis# I love design

Thanks in advance please email your response thanks a Tamara
Comment from : Tamara Nichole Francis# I love design

I collect in August Does the income I made before August count towards my $21,240 yearly rate
Comment from : Johnny Church

I think this will only affect to individuals that retired before the age of 70 years old
Comment from : Ramona ZwolinskI

I can't believe how much our lives have changed since meeting Marcia Ann Bice brShe’s helped us become debt-free and save for retirement" | made over 220K during this dip, which made it clear there's more to the market than we average joes know Having an investment adviser is currently the best course of action, especially for those who are close to retirement
Comment from : Jonathan Nathan

thanks so much♌🐆
Comment from : Lyne Westbrook

If one is a full time ABILITY ONE ( prioritized employee working while needing accomadatiins)empland drawing social security do the earning limits still apply for social security penalties and taxation formulas? And once I reach full retirement age in Feb 223 will I no longer be penalized by social security and taxed if I earn 475 ka year of combined income ? How can I legally avoid social security penalties and taxation or off set it Will a deposit into a ROTH IRA prevent taxes on earned income? Or other savings vehicle? I turn 665 FRA in February 2024 I am currently 65 I work from April to Aug at 65 Aug to Dec at 66 And Jan 2024 Is the month before FRA is reached I will earn I will earn br$ 14,100 in social security and 34k in earned income
Comment from : SHELBY HAMBRIGHT

In the year you reach FRA you can earn up to $56,520 So is that the limit I can make up to the month after I reach FRA, or is that for the entire years non-SSA income? The sky is the limit once you reach full-retirement correct?
Comment from : possum104

Great presentation Devin All the best to you…
Comment from : dennis tyler

How many times can you put SS on hold? I may be getting a high paying job soon I’m 63 years old Started receiving at 62yo
Comment from : Chuck Edgerton

I never understood why u get penalized for going over limit with SS - I'm forced to wait for max 66 and 8 months so I can make as much as I want if I'm still healthy enough to keep working
Comment from : Charles Renfro

Thanks for the information Very helpful
Comment from : Christopher Cody

Devin your videos are very much needed and appreciatedthank you
Comment from : Mike

66 what is my limit of earnings
Comment from : Carl Cutts

Earnings amount is GROSS OR NET??
Comment from : AK P

Probably stupid question IF i Make $28,000 at my W2 job but lose $3,000 in my self employed job due to tax write offs like gas and rent and other things Does Social security see my income as $25,000?? 64 yrs old
Comment from : Tatetytiffany

No Although I am not physically able to work 40 hours a week, I do enjoy working My former industry is in dire need of my trade skills
Comment from : Mark

Thank you for this excellent informative video I really appreciate it
Comment from : Heb Gilo

How many hours can I work legally for a family business while collecting SSDI? Assuming my spouse owns the company and will be making accommodations to increase my productivity, could I be added onto the company payroll as a salary employee without issues? Social security asks for a set amount of hours worked per pay period and in my case I’ll be paid a salary regardless of hours worked to simplify things I’ll be earning about 1k per month
Comment from : Tom

Unsure on this scenario If I am beyond full retirement age and still working (>100k annually) and my wife goes on early retirement but only makes 6k a year and collects spousal benefit Will her benefit be reduced because I am earning too much?????
Comment from : mjn82

Does casino winnings or clinical trial money count as "work" earnings? Since it is in fact NOT work income?
Comment from : CANDY LYNN

If one month you earn a little over 1,770 But the other month, you earn less than 1,770 brIs what matters is year end total income is not over 21,240?brMonth by month fluctuates but year end it's not overbrWould there be any penalty?
Comment from : maurelle

66 in July and have no faith in government Think I will fill 6 months early
Comment from : Robert Baker

Thanks for all this info If I decide to keep working while collecting widow benefits at age 60, can I contribute the maximum to my 401k to reduce my taxable income? Do the SS admin take my gross earnings (earnings before my contributions)or my net taxable income towards the max I can earn?
Comment from : Donna Roberts

The thought of retirement makes me cry My apologies to everyone who have retired/filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame forit's especially difficult for people who are retired
Comment from : Parrish

You made a statement "In the calendar year full retirement age is attained" What does that means if I was born 4-6-58? ALL year in 2024 or 2025 cause of the 8 months?
Comment from : Karen Kneisley

Can you claim a parent that is not that old as a dependent?
Comment from : michelle sanchez soto

Our socio-economic structures meant to keep most people on the ropes so that they can't rise
Comment from : John Talmage

How can one notify SSA of going over the limits when you don't actually go over the limit until Nov/Dec ? I went over last year by just a couple thousand, and at some point later I got the letter, and they withheld about $700 from one of my benefit checks Anything wrong with that ?
Comment from : Michael Vitale

I'm not receiving that I'm receiving scrutiny 🤣
Comment from : Laniel Bate

My full retirement is at 66 & 6 months If I retire at 65 & 4 months does my earnings limit change when I reach 66 & 6mo And will my benefit increase when I reach 66 & 6 or will it continue at the 65 & 4-month benefit should I decide to take retirement now
Comment from : OfficialBartNash

So the best method would be work as long as you can if you’re comfortable the best bet is just keep working and making more money right
Comment from : Ed Jones

So if I understand you correctly their will be no earnings penalty for ME IF I go back to work after MARCH 13th 2023 My birthday is Nov13th 1956 That would make me 66 and 4 months Do I have this correct
Comment from : Mark Vaughn

i am collecting ss and am now 63 and working and gonna make the $21250 this year, I have 50k in cash i would like to put into a CD, will the cd interest count as income against my social security limit
Comment from : alan miller