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Working While Collecting Social Security Will My Check Increase

Wisdom Investor 41 views

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Are you planning on working and taking Social Security at the same time?
Comment from : @wisdominvestor

Thank you for explaining that You made sense Do you know how they give back the money withheld over allowed amount?
Comment from : @giovannifunaro5408

I have had some very low income years that I am now replacing with higher annual incomes When does this recalculation actually begin to happen? So far, I have not seen it
Comment from : @evertmorse8518

Thank you
Comment from : @dirtylocustgardencenter7200

YesbrTop 35 years are usedbrIf you earn $35k at age 72, that 35k replaces the $1200 you earned in 1967
Comment from : @sammencia7945

Do the social security taxes they take out while working and collecting social security; will they be applied to your benefits check??
Comment from : @tj-597

If a person decides to collect social security while still working under the limit of what you are allowed, are you saying that the money going into social security that is deducted from my work paycheck will eventually come back to me in small increments over time, even if I am locked in at a lesser amount of a social security check for taking it before my full retirement age? Thank you I'm sorry but I feel a little confused
Comment from : @apollovizsla

You forgot to mention indexing, 1976 wages will be multiplied by 15 or something
Comment from : @joracer1

"how much YOU'RE making:"
Comment from : @Man-In-The-Home-Stretch

Thank you thank you and thank youbrI had been looking for this answer for as long as I started thinking about retiringbrYou were born to be a Professor…so easy to grasp Much appreciated
Comment from : @LinhHa-sd4zf

What if you continue to work full-time AFTER you start collecting SS at age 70?
Comment from : @yannip2083

Thanks, but your answer didn't match the ?
Comment from : @markhoward9743

Never retire at age 62 I waited until FULL retirement at age 66 -I get both FT paychecks and full reitrement checks I can make ALL I WANT
Comment from : @AnnieinKC

I believe you missed an important detail regarding continued earnings from work after one begins receiving social security Those earnings must be compared with INDEXED earnings from the past years work record, NOT the actual earnings Most recent earning years can replace earlier years ONLY if they are higher than the indexed value of those earlier years Otherwise, they will not boost the best 35 years total and thus boost the worker's benefit
Comment from : @billyjoejimbob56

I have SSl and receive very little I was told that after a certain age I canwork and make as much as I want and not get penalized> Iwas getting SSDI but received a settlement because of work comp injury I am now 68 born 1953 and I wish to work and now bcuz of settlement I am on SSI and I only now get 87300 starting this year I feel I have not received my full amount HELP
Comment from : @Hope-zf1bw

Thanks
Comment from : @techworld-kc6lt

What about passive income? Like income from renting out apartments? Does that income get taxed $1 for every $2 over your annual benefit amount is passed?
Comment from : @billygraham5589

Thanks for the video I never knew SS could be so confusing
Comment from : @ROgletree

From what I understand, once you take retirement they don't count those years after
Comment from : @Lyn777

What guarantee does anyone have that we will live to 67 years old, the costs keep going up but little is given to people on social security So little it does not help at all , so many people living in poverty or worse homeless is a disgrace The Government is not here to help us but to keep us poor most people are just surviving paycheck to paycheck
Comment from : @markjg2275

So, if I continue to work full-time and do not collect SS benefits until AFTER my FRA my SSA benefit will not be reduced? In other words, as long as you begin collecting your SS benefit AFTER your FRA & you continue working your SS benefit will not be reduced ?????
Comment from : @stevecampisano3116

Thank you so much for making this video! Appreciate you making it simple to understand!
Comment from : @ghggp1

Do these figures hold if you are making money thru your own business? In addition, what if you are disabled, receiving disability and making an income thru your own business? Thx!!
Comment from : @karljm1000

I was working during my first 4 years while on social security 62 to 66 Over the past 4 years, I went over the limit of 3 of those years I am currently paying back $75 a month of the $5000 SS said I was overpaid I am now at full retirement age this month Will SS keep taking the balance of the $5000 out of my checks or will it stop? And, what happens to the money that I already paid back to SS?
Comment from : @kenpsteele

Very good video You said the SS will take 1 dollar for each 2 dollar you make over $18,960 Question: When they will take this money? At FRA the SS will start to give you this money back Question: What percentage and for how long? and finally : They will give you everything they took?
Comment from : @juanvaldivia1173

Always good advice
Comment from : @sergiohernandez-fz2xx

So if you start collecting SS before FRA, and you receive income via part-time employment that is less than the $18k annual limit until FRA, is that income subject to SS tax?? I guess it would be since this income might be used for recalculating the benefit
Comment from : @hansschotterradler3772

If I am projecting myself to make from a tax able job in 2021 a Gross income of 32,760 and draw social security at the same time I understand I will lose 1 dollar of my future social security for every 2 dollars over 18,240 or 14,520 divided by 2 equal 7,260 to be taken out of social security in 2022 OK Now for my question can I avoid the 2022 repayment of social security by using the 19,000 dollar IRA 401K catch up in 2021 reducing my taxable income?
Comment from : @johnhelms3105

I'm 63 and on SS I started a PT job Can I work 40 hrs if I want as long as my work gross income isn't more than $18,240 in a yr Thanks in advance
Comment from : @kathleenwalton3311

Who sits around and makes up allllll these rules??? It seems the try to “fix” one side of SSA and screw up another side Wouldn’t it make sense to have some real seniors living on SSA on a panel instead of wealthy politicians?
Comment from : @Dumbluck14