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Social Security Earnings Limit Payback If I Make Too Much Money 2021




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Title :  Social Security Earnings Limit Payback If I Make Too Much Money 2021
Lasting :   10.05
Date of publication :  
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Description Social Security Earnings Limit Payback If I Make Too Much Money 2021



Comments Social Security Earnings Limit Payback If I Make Too Much Money 2021



james teel
Hello, What if I made $50000 over the earnings limit, and I owe them $25000 will they take my whole check of $ 154300 for the first of january?? or can I pay them the $25000 back as an overpayment??
Comment from : james teel


Ken Steele
I am going through that right now I retired at 62 My full retirement is 67 I went over my earnings limit by $8,000 in 2018 I started a repayment plan 2 years ago and SS is still taking payments out of my check each month Will this continue? I have my overpayment from working paid down to about $2900 Also, will SS require the whole over the limit paid back before receiving money back? Thanks, Ken S
Comment from : Ken Steele


UofLAnn
Excellent video Thank you, thank you 💜
Comment from : UofLAnn


pphh97
I retired @ 62 June 2020 but I am going back full time in 2022 Probably will make $55K so that means that I will lose all payments for 2022 (age 64) in 2023All payments for 2024 (age 65) in 2025 I’ll stop working again once I turn 65 in 2025 I’ll make about half of that $55K = $28K so I should be able to get my payments restarted around March of 2026 but I saved good deal of money from returning to work Liked your tables Very informative Lesson here don’t retire unless you find something to do with your free time It can drive you crazy when you have too much time and nothing to do
Comment from : pphh97


J Neighbor
In your example, $3020 is the amount to be withheld, but $3086 is the amount they actually withheld ($1543x2) Is your example correct - they will only withhold full months? Would this mean that if they were to withhold $1544, ($1 more than one month of benefits), then they wound withhold 2 full months the next year?
Comment from : J Neighbor


Jim Stokes
Sadly, if I retire at 62, and work part time, the amount allowed, I'll actually be making MORE money than I currently am, working full time 😐😕
Comment from : Jim Stokes


Jim Stokes
You referred me here because of a question I had I think you didn't understand the question I'll try again If you collect at 62, and you work, but you keep your working amount under the limit, when would you get the 124 taken out of each check that your getting while working Is is added at FRA?
Comment from : Jim Stokes


Jesse M
Isn’t there a REPAYMENT OPTION WHEREBY, for example:brbrOne who has taken early retirement, lets say at 62 Then at full retirement age, this person repays all he has received to date prior to full retirement age, and upon this repayment optionHE WILL BEGIN AFRESH GETTING FULL RETIREMENT BENEFITS?!! brbrThis is a ONCE in a lifetime optionbrbrWhats this called? brA ONCE OVER OR WHAT?
Comment from : Jesse M


Janscreatons
Very informative videos! I’ve been watching quite a few of them I turn 62 on March 1 and now have a part time job I am still trying to figure out if I should start at 62 or wait until 63 The part time job will definitely take me over the $18960, so I am leaning to wait until age 63 unless I loose this job before I reach the $18960! You never know what may happen At the moment I still enjoy working! I like keeping the mind busy Just out of curiosity how many people elect to receive SS at 62 and continue to work?
Comment from : Janscreatons


italianballbreaker
Hi Mr wisdom this past December (2020) I applied for my SS on the SS web site I put down February(2021) as to when I want to start receiving SS I turned 64 on January 25th Will the money I make in the months prior to collecting SS affect my SS payment? Thank you in advance for your help
Comment from : italianballbreaker


Leon Williams
Hi i am learning so much by watching your video, keep making great videos I do have some questions
Comment from : Leon Williams


Artie
The video was very informative and helpful but I found the math hard to follow with the music in the background Still a 👍 Thanks
Comment from : Artie


joan lapi
That’s Money People Work For - That’s Disgraceful
Comment from : joan lapi


MathGives YouPower
Good explanation of a complicated system Makes me glad I've been able to wait until nearly FRA I'm still working and reach FRA in August 2021 This means that since I won't earn $50,000 before August that if I start taking SS at the beginning of next year, I will never see an earning limits reduction Thanks
Comment from : MathGives YouPower


Jess Cools
Social Security is a rip-off brA person making too much money, but they take it and refuse you payment
Comment from : Jess Cools


Stan
Very good explanation I never understood exactly Iow I got the withheld money credited back and I didn't know the earnings limit increased the year I reached full retirement age I'm hoping I don't need to work and if I do work its only because I want to Things can always change I plan and god laughs😀
Comment from : Stan


Guy Cerasaro
Unfortunately I am unable to work due to severe back problems and then on Social Security disability for 14 years I make very little a month and the increase would be God sent
Comment from : Guy Cerasaro


Wisdom Investor
Are you planning on working and taking Social Security early, prior to Full Retirement Age (FRA)?
Comment from : Wisdom Investor



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