Working While Collecting Social Security - Limits and Examples

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Title	:	Working While Collecting Social Security - Limits and Examples
Lasting	:	10.29
Date of publication	:
Views	:	233 rb

Recommended Video: biShould You Take Social Security at Age 62 and Invest It or Wait Until Full Retirement Age?/i/b youtube/8Do6edWYRH0
Comment from : Holy Schmidt!

The year before FRA, I earned 10+k over the limit so I have 5k debt that I have a payment plan to address Now, at FRA, I get that back? Why am I paying it back if I'm only going to get it back again? I'm confused
Comment from : David Roads

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 suicide and still work part-time
Comment from : Rene Rodriguez

I know so many single people in my company who started collecting their SS at 70 but continue to work "full-time" past age 70 in my company I guess a lot of their SS and/or their paycheck will go to IRS, right? I think 85 of their SS is taxed by IRS, so I wonder what's the point in coming back to work?
Comment from : Yanni P

I am self employed, do they go by gross adjusted income or taxable income when drawing early and working?
Comment from : sarah fridy

I'm not on social security I have a mild disability but I know to take care of myself
Comment from : ironwood the sicko

can you work after getting survivor benefits and if yes how many hours per week or month
Comment from : Darren Farrell

Hello Geoffrey, I ALREADY SAW A DRAMATIC CHANGE!!! I received a letter from the SSA stating that THEY made a mistake and that I would owe them $3,500 with no other comment or explanation So I sent a letter to the SSA in Birmingham (AL) with a request for an explanation The “answer” was “SSA will pay $000 of SSA benefits until March 2023 with no other comment or explanation The teller at the local SSA responded with “It’s all your fault It’s in the computer” Asking “Why” and “What went wrong” was answered with “I don’t know” I feel like legally “RAPED” since the SSA “IS ABOVE THE LAW” and can come up with ANY CLAIM at ANY TIME claiming ANY AMOUNT with NO EXPLANATION and I will NEVER see any SSA benefits for what I paid 25 years every month PLEASE ADVISE THANKS
Comment from : Werner Jager

I’ll begin to collect SS 15 years before full retirement age If I sell my cello before full retirement would that count as income? (It would be a six figure amount)
Comment from : Steven J

Does becoming vested and receiving a stock grant from a former employer count as income ?
Comment from : LanceP

Thanks for the informative video Now I just need to find my monthly earning limit
Comment from : R Kroz

Why collect SS while you work? What am I missing???
Comment from : Ed Rodgers

Great info as always Geoff Can you explain (here or in another video) how a spouse's benefit is impacted In my case I am 62 and still working and earning way over the SSA limit My wife does not work and is 625 Would she be impacted by my earnings? I plan to work another 3 years and start drawing SS at 67 or 70
Comment from : Mike Irving

Thank you
Comment from : nrs

I was planning to work part time but SSA told me that there is a monthly limit of 45 hours True or not, and if true, does this limit go away at FRA? Great video, by the way
Comment from : HenryOrientJnr

Splat
Comment from : Randy gan

In July I retire at 65 I am allowed $1950 a month without penalty Is that take home pay or gross pay? Thank You
Comment from : Mark

I have a question: I'm taking SS Benefit at 62 and getting $1,500/month Now say I've earned $100,000 over the limit of say $18,240 this year So in this case, will the SSA will penalize me with $50,000? Can the penalty be more than the SS benefit itself? Thanks
Comment from : Writer Amitabha Neil Ray of USA

Nice and very informative video but I do have one question What happens if you file for Social Security benefits after your FRA and you are getting say $1,500 a month But you keep working full time until age 70 when your Social Security benefits will be say $2,400 What will your new Social Security benefits be $1,500 or $2,400?
Comment from : Osi Umeh

I'm 62 and applied for SS, got approved for Feb 2022 and will receive first payment at the end of March 2022 I worked fulltime till the end of March I will be working part time for the rest of the year, with each month earning under the monthly limit Do I need to reduce my parttime pay so I won't go over the yearly limit? Thank You
Comment from : Synth Groove

I am a 67 and I’m still working and I don’t plan on retiring from my job anytime soon, can I still apply for Social Security benefits and will I be able to earn my total for retirement amount while still working
Comment from : DSkyking

So my daughter is 14 years old has alot of disabilities but she still wants to try to work so of course she is kid so she can only work 9 hrs in the weekend so she about 109 a week so would that hurt her SSI
Comment from : Joseph DeJesus

WHAT IF I RETIRE IN JULY?I READ SOME IRS RULE ABOUT NOT BEING PENALIZED IF YOU ACTUALLY RETIRE?
Comment from : Walter Allen Tate 1957

Geoff: I think I know the rules here, but I want to confirm: My wife filed for her primary benefit in 2021 at age 62, and continues to work part-time Her pay will be under the earnings limit in 2022 I would like to do a Rollover IRA conversion to her Roth IRA in 2022, amount $100,000 I understand this is taxable, but I believe it does NOT count against her earnings limit Is this correct?
Comment from : Robert Blakely

Thanks for this video It reinforces my understanding of how the limits apply to people who are working Because of this, I don't plan on taking SS until FRA That should make my Monthly SS check some additional income The only question is the impact on taxes since the SS income will increase my taxable income
Comment from : jerry kurata

What category does income from real estate fall into? One of my goals is to have a rental property paid off by the time I retire How would that income affect me?
Comment from : G-Love University

I found many replies to my comments in my email by luck, thanks to everyone that responded, as you might know am new on using my phone Thanks everyone
Comment from : Ramon Sanchez

I'm in Full retirement year this year 2022/can i apply or get my first check 2 months before the month of my full retirement i make 42,000 a year is ther a Penalty for that if i claim 2 months earlier from my FRA" or i get penalized ?Please help me coz i want to apply 2 months early becoz the difference is only $28 bucks i will lose if i can aplly now 2 months before my FRA/ i will lose $3,300 in 2 months if i dont claimed! im still working now and no plan to retiredThank you so much SIR: Please help me
Comment from : Luis Almanzor

When you draw SS, do they continue to take SS out of that check ? I know they take Fed Tax, but what about SS ? Thank you
Comment from : IU DOG

Do not collect your benefit until you are 70 If you do, you will regret it
Comment from : Ed Rodgers

I collect SSDI I am 61 years old When I am 67 it will change over to regular social security If I work at that time will I be able to keep all of my Social Security Income? Will I collect the same amount of money that I collect on SSDI? - Thanks
Comment from : David Swann

What happens if you work while collecting ss at 62 and you make over the limit by 5000 but after 2 year s of working you quit do u automatically get your regular ss benefits? again?
Comment from : JC

Hi Geoff: wish I'd have found your channel back in the Spring! Thank you for your hard work and dedication 👏 I went to part-time at work at age 65 My FRA is coming up shortly, June 2022 I started collecting in April 2021, with my first check in May I found information (poor information) saying there's a "special rule" to earnings I would like to share my mistakes to help others I took it that the earnings test began in April It is January-December My husband kept saying to follow the month earnings amount SSA held back my December and January checks I just received a letter saying I won't be getting a check until March, and it is reduced I understand the SSA will adjust my amount What is frustrating is now that I'm in my FRY I can earn so much more, and I am still part-time It will all even out Sad they won't look at cases on an individual basis But with over 50 million participants, I'm just a drop in the bucket 🪣 Watching you videos gives me confidence and knowledge that is so important Thanks again! 😊
Comment from : YooperChix

Mmmmso "when received" If you make 35k doing Uber, and your business expenses leave you with an adjusted gross of $10k, Soc Sec is going to use the 35k you received as the calculating figure to establish reduction Does that sound right? They won't let you "receive" income more than the limit amount set for each year
Comment from : M CUBED

If iam at full retirement age can I put my income in my 401k and my 457a too offset the ss income with no penalty
Comment from : dale kniffin

Is rental income considered earned income?
Comment from : Cherie C

I’m 62 currently, if I apply for ss and my income is $100,00,, how much will take back in benefits?
Comment from : Jay Chie

Have a question, I am on SSD since age 50 and am @ age of 56 now and don't work and the SSD monies I receive each month is $1,884/mo @age 65 what will my income be?
Comment from : Ray Steffen

I was on Disability at age 59 It converted to Social Security at 62 I have not worked or earned any other income I’m now a few months away from 66 Could I begin working up to the limit now ? Will I be paying into SS on those earnings?
Comment from : Edward Gomez

Could you explain when your on disability,, can I work and how much can I make, my draw is $130000 after they take $30000 for medicaid or Medicare, I don’t know which one, just know they just started doing this, now I not making it, please help
Comment from : Jeff Howard

I've been looking for a video about this scenario: I'm currently 66 in July, been collecting SS since 63 I'm still working Am I still contributing to SS from my paychecks? Will this contribution add to my SS income at some point? or will my SS income only get larger with periodic cost of living increases?
Comment from : Dabney

How about if I’m 66 5 years old and have a part time job making $22,000 / year I still contribute to an IRA and also receive a pension! What do I count as income for tax bracket purposes in taking out distributions from my IRA? Do I count my pension, social security, and my part time job as a total to figure out what my tax bracket would be when I take out distributions from my IRA?
Comment from : Robert Turbessi

Is the income calculated on your gross income or adjusted gross income? When I'm 62 I'll still have 2 kids living at home I can claim as deductions I'll still have 2 at home until until my FRA
Comment from : Adam Burge

Take early retirement and work part time , Is the limit start when I file or when I start collect my social security benefit?
Comment from : kiwilady100

So you don't have to wait until the full retirement age, let's say it's 66 and 4 months, you can enroll in social security on that year, let's say January, and not exactly at 66 and 4 months? Let's say my full retirement age is in June, but I can ask for social security on January and not have any penalties or deductions regardless of my job earnings?
Comment from : Ivy Lebrón

My wife start collecting at 62 last October 2021 since she’s no longer working I’m still working making 70K annually and filling our taxes jointly Does my wife social security benefit affected by my income and be reduced by 1$ for every 3$ based on my income?
Comment from : Bobbie Sabio

And your rent takes all of that 1580 A month
Comment from : Me and I

My mother never got her payments back She still working and is still paying in to social security
Comment from : Me and I

Do you have to pay taxes if you get less than 25000 ayear from your social security?
Comment from : Ivan Camp

What is the age of full retirement?
Comment from : Bamaboy 74

Are retired teacher retirement accounts considered a pension?
Comment from : Beverly Doremus

Very direct and to the point; easy to understand; Thank You for making this helpful video !!!!!!
Comment from : Tim Klein

I got caught up working and I am now in a redetermination I’m waiting to hear from therm to see if they reinstate my benefits I don’t know what I am going to do now
Comment from : Ajay Dwayne

If I work past age 62 without collecting, will that amount be added to the total average income?
Comment from : Nick Franko

What is “full retirement age”?
Comment from : Steven Kukene

You got your ‘thumbs up’ because the video was short and you followed the tried and true method of starting a complex subject by breaking it into basic concepts brbr HOWEVER, please take the input of someone less knowledgeable so you can improve the presentation br1) what is full retirement age? This is the classic case of someone that is deep into a subject and isn’t viewing the subject matter from the viewpoint of someone untutored brbrLook at your “competition“ brFinancial fast Lane gives me missing information in their titlebr“Best age to file 62, 66 or 70” brbrI hope this isn’t coming across as too critical —> you are presenting an important subject matter in a clear and understandable manner —> it’s just a matter of tweaking this presentation and contextualizing it… brbrThank you — It will be interesting to see if there’s any feedback or commentary on my comments
Comment from : john bailey

Hi Geoff, great topic! I'm curious about what happens with the SS money that isn't paid out when someone is still working and their income exceeds the limit Eg, if $1 is withheld for every $2, where does it go? Is it paid back later to the person after they stop working, as an increased monthly benefit? Thank you
Comment from : Doug B

How much will the reduced benefits affect my benefit at full retirement age For example if I have my benefits reduced by a total of $20,000 before my full retirement age, how much additional benefit will I receive at FRA?
Comment from : Doug 191919

What about part time working with a disability while collecting a very small SSDI stipend?
Comment from : Glenn G

Do these examples apply to someone on disability receiving before retirement age?
Comment from : Luisa D’Angelo

Inside the making of our prisonPrison gates are open, LEAVE!!!!
Comment from : mike hand

Do you see this situation changing with the current shortage of people willing to work?
Comment from : Thomas Richards

Hello, I've been unemployed since 03/2020 due to Covid closing down the airline I worked for I began collecting SS at 62 in 09/2020 So now I will be starting a job on 11/01/2021 paying 66,560 per year before overtime I don't know whether to stop my SS completely, or collect whatever the reduced amount will be I'm confused Advice?
Comment from : Jojo Diver

This is SO CONFUSING! But you opened up my eyes to make sure I retire when I get the most of my Social Security benefits if I continue to work full time! Thank you
Comment from : Carmen Miranda

The disabled shouldn't have to live in poverty Social Security should peg the amount someone can earn while receiving benefits to the average amount of money needed to live
Comment from : Knuckle_Bump

I am receiving Soc Sec I am 68 I am married and file a joint renturn Even though I make less than $5000 a year part time, I am still taxed on my benefit because my wife is 64, still working, and she makes $63000/yr Can I avoid taxes on my Soc Sec if I change my filing status to married filing separate returns? Thanks!
Comment from : Embodied Conducting

Working while collecting Federal welfare,SS, is confusing Thank you!
Comment from : Ed Rodgers

401k what's that????
Comment from : B Walsh

If I'm working part time and earn $2000/month and out of these wages, I put $200/month into my IRA, does the $2000 or $1800 go towards the monthly earnings limit test?
Comment from : Bryan Brenner

On the last slideWhere did the September income of $7,750 come from? Is the October amount of $3888 a calculation or just an guess amount because worker is now part time? These slides are very useful, thank you!
Comment from : Doc Sav

This was very helpful to know!! Thank You Sir!
Comment from : Scotty Miller

How come my pension is taxed before I receive it?
Comment from : rtta51

I’m now 70Y & stated collecting SS at the age of 66…& still working Yearly income is around 75-80 K… paying taxes on my paychecks… what SS tax bracket I’m in?
Comment from : Iq Hirani

Can you explain how Social Security is affected if you work for a state government and a private employer
Comment from : john dalrymple

I retired at 65 (11/2020) first check 12/20/2021)and full retirement would have been at 66 (dob 05/28/1955) As of this writing I am 66 can I work at this point without deduction from Social Security I am a RN and wanting to help with the COVID crisis but afraid I will be penalized if I am paid Thanks
Comment from : Earl Key

Can you work after you turn 65 and your disability rolls over to SS ?
Comment from : Charles Davis

I am too grateful for the program to cry about how the gubmint is ripping me off
Comment from : Wisconsin Farmer

What’s about rental income , will it count ?
Comment from : mabel xoxo

I lost my husband 4 years agobrI was told that I couldn't collect my husband's Social Security till I'm 60 I also have health issues that keep me from getting a jobbrI'll be 60 in January 2022brWhat do I do? Should I file for Disability or my husband's Social Security??brI have no money coming in right now
Comment from : Brenda Burgner-Williams

IT ALL BULLSHIT!! YOU SHOULD BE ABLE TO WORK AND KEEP YOUR SSI
Comment from : mr question

I have an Attorney to explain transition back to work SSA also has a program , Ticket to work A program that offers assistance to brpeople whom desire to return to work
Comment from : F T Gallup

This annual limit is a f'ing joke!! They want us all to work till 65 plus so they don't have to pay many of us This is nothing but a ponzi scheme which they took 3 trillion out of the fund already!!
Comment from : kirk lamb

I was at FRA four years ago I understood the no earnings limit piece What I need to know is if I earn over a certain amount each year from my small business is there a cap on earnings after which the IRS taxes my SS benefits? Thanks in advance for your help
Comment from : DonnaPia Vocci

What is Full retirement age?
Comment from : Valentina Sylvester

Ts
Comment from : Robert Armentrout

This whole thing is a huge scam This is OUR money Make no mistake it’s taxable Anything you saved on your own is matched to SS and taxable AND it’s based on an earnings table from 1983!!!!! It was never updated I worked part time and ended up having a whole months check withheld because “you might” go over the limit After numerous calls and written requests I finally got someone who listened to me and refunded the check This whole thing is a federal bureaucracy!! No one can understand all the rules because we aren’t supposed to
Comment from : HardluckHarry

I forced to live on 794 a month ssdi starving will kill me before can fix my disability or live with it
Comment from : laurie anne Foley

Not allowed to work so if you're back is broken keep it broken
Comment from : laurie anne Foley

Schmidt, brbrI thought when you retired early, each new year beginning in 2017, added an extra month to the time you can start earning, that yearbrbrIn my case, I turned 62 in 2017 in February I begain earning in March and got my first pay check in April I was already registered and just waiting for the dates to activatebrbrNow, those turning 62 in 2018 , say in May, begain earning in July (2 mths after birth month), and received their first check in AugustbrbrEach year the extra month is added Am I wrong about these extra months?
Comment from : CATownsend