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2022 Social Security Income Limit

Devin Carroll, CFP® 116 views

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Do Roth conversions while receiving Social Security count towards the earning limits?
Comment from : @DougOsborne-h7n

Does the earnings from SS count as part of the 19,560, or is it the income you make beyond your SS?
Comment from : @sarahfridy6245

Hi Devin, How about rental income, does it count as an income? Thank you
Comment from : @befree9457

How much money can you have in the bank if your on social security is there a limit passed retirement age
Comment from : @pattystaples1100

I sold Amazon stock in 2016 I knew I had to pay the taxes What I didn't know was They cut wife's SS benefit in half for twelve months (after a lag time) I was not on SS yet but Medicare and my monthly cost went up almost by three times We are both now on SS I am 69 and wife 71 We have almost 2 million in an IRA account and wanted to start moving some out b4 the government makes me I was going to move it to our personal account Our guy At TD Ameritrade said to convert it to a Roth account I read one online comment that said this could also affect our SS/Medicare benefits I went to SS office yesterday They said converting 100k from IRA to Roth IRA will NOT affect benefits but will have to pay the tax on it going in Our tax people said we couldn't even do this at all without being over the yearly limit I think I need better tax people? I really don't want to go through this again like we did in 2016 My wife wanted to SHOOT me Thanks, StanTambling@ComcastNet
Comment from : @Stantheman-je7xl

What is the income limit for SSI for a married Couple ? Thanks
Comment from : @docfaustus6303

Thank you Devin, I do have a questionMy wife is of retirement age for her bracket She started to collect Social Security earlier this year She wants to work part time ( about $500 month) will this be a problem as I think you mention there is no limit on earnings if she is of retirement age Thank you again !! Great info
Comment from : @karl2051

Hi Devon I have a question? I am 65 retired and drawing SS each month since January and last month in September I started working on the side for extra money How much can I earn for September through December without incurring a penalty?? Also do I need to report this extra money I started making in September and how do I report it Thanks Marty
Comment from : @martywortman3215

Great video Just to be clear, the $19,000 and change limit is over the amount you collect from SS for the year ? Also I collect some dividend payment from some stock investments thru out the year That goes into the $19,000, or does it not count towards that limit ? Thank you !
Comment from : @redelstein2000

I am planning to quit SSD before FRA and resume working until after FRA will I get more benefits than what I had on SSD?
Comment from : @barbarathiecke1320

I revisited this video because of a letter I received from SS thanks
Comment from : @russdavis1960

I need to know if the $19,560 annual limit is gross or net Please and Thank You
Comment from : @rickstienstra258

Great video QUESTION? I trade stocks daily will profit earned from trading stocks be counted as income against the limit? Thanks
Comment from : @dreamtooreality748

I am so confused, scared, and ignorant of the rules I actually thought social security belonged to me no matter what I turn 66 in October 2022 but filed for benefits in August 2022 because my son and husband are ill
Comment from : @kittyskid1

I am even more confused than I was watching this video
Comment from : @Ahoto_papa_bi

Does money from 401K withdrawals count towards earned income?
Comment from : @maryclark8365

Does that earning limit include the social security pay?
Comment from : @SgtD1981

Since the new law allows you to contribute to an IRA ( Self directed or 401K also I assume) is the amount contributed subtracted from this limit or is it a straight you made x dollars and trip the reduction?
Comment from : @pineywoodspermaculturepara3965

Thanks Devin, I’ve been considering applying for survivor benefits but, am also looking to sell my home and move From your explanation, that capital gain will not count against any benefit so, I can go forward without worry
Comment from : @liquidsmokemustang1537

I just retired from teaching on May27,2022 I started SS on June 1, 2022 However, money I earned prior to May 27th is going to be paid to me in June and July Will I be penalized? As always, thank you
Comment from : @paulmccarter312

My FRA is 66/4 born in 1956 so I am going to apply for benefits next month ,but i am still working and want to work few more years ?
Comment from : @beaconsharman7159

Hi Devin First, thanks for all your great informative videos brbrI have a question If one can obtain full benefits at age 66 for example, but doesn't actually apply for benefits until let's say, age 67, is one entitled to the 12 months worth of payments that they didn't get? A friend of mine did exactly that, and received a direct deposit with all the money that he was told was owed to him since he didn't apply at age 66brbrIs this for real, or was this a fluke or mistake? Thanks for everything, again
Comment from : @saltydog1311

If I quit disability and go back to work until after FRA will my social security amount change?
Comment from : @barbarathiecke3690

If you make over the income limit (say you make 24K) and the limit is $195K, can you move 45K into your IRA and not have itbrcount as earned income? The IRS doesn't count money put into a traditional IRA as taxable income ??? Would love to knowbrthis answer Also, is the income counted by SS your adjusted gross income or gross income?
Comment from : @David-sc2ir

I worked mostly for cash, how do I get a monthly Federal welfare check?
Comment from : @juangarcia8828

Thanks for your information Devin It's really worth considering a consult with you on SS as there are so many variables I'm married, filing jointly, husband still works (self-employed) and is under FRA I am over FRA, still work part time for husband's business As I understand it my nor my husband's earned income come into play if I collect as long as I don't work over a certain amount of hours/month My understanding is that SS looks at hours worked to determine if you are 'retired' under their rules
Comment from : @mamalovesthebeach437

social Security benefits go don cost cost of live going up
Comment from : @stephengiacobozzi7785

Does it matter how much money you have in your savings account before receiving Social Security?
Comment from : @hdot89

I am confused In 2023 I will 666 December 1st I will apply for my benefits on November 1st 2023, I make 65k a year Can I draw without penelty in January of my full retirement year, and still work full time My income fluctuates due to overtime
Comment from : @tommoore707

When you indicate income do you start by first adding your s/s payment or is income the amount over the standard s/s payment you receive?
Comment from : @chevymiami123

Does your 401 money count against you if you cash it out?
Comment from : @charlescook1607

Receive a ltr from SS telling me i can now earn up to $44,000 wo any impact on my SS-yet i have to pay $420 on my SS cuz i made $30,000 Why?
Comment from : @howdydo7320

Is there a limit SS pays out when both spouses start collecting after their full retirement age? Is there a cap? Both are not working after full retirement age
Comment from : @wine-chocolatewine5672

Social security counted my widows pension as income???
Comment from : @helenrichardson7490

can u please tell me for early retirement base on monthly earning income or yearly income earning ?
Comment from : @pamelalam422

Hello I was on Social Security disability and as of my 66 and two month’s birthday I was taking off and placed on Social Security I also received a letter speaking about a ticket to work I need some assistance with this please
Comment from : @dean8663

I was on Social Security disability I received a letter stating that I was taken off disability and put on Social Security as of my 66 and two months birthday what is a ticket to work
Comment from : @dean8663

So if I’m age 62 and will start mid year drawing retirement does the special rule apply that I my earnings won’t count against me?
Comment from : @patriciahunt5668

Hi Devin and thank you! I am 62 and I plan on retiring in September, I will be 63 09/10/2022 brMy question is does any of my income I make before I retire in September 22 go against me? It's my understanding that any money I make before September doesn't count against me and I can still make the allowable amount of 19,56000 going forward? Please help
Comment from : @happycampers5547

Devin, my FRA is 10/2023, Ill be 65 this April Considering retirement and filing for SS this summer and my yearly income at that point will be about 18,000 If I do a little part time work in the fall at it puts me at about 21k for the year, will they penalize me on that $1500 overage , do they nail you right to the exact dollar ? Thank ou
Comment from : @iudog5675

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 : @luisalmanzor1702

I am on Social Security Disability and disability from the USPS I turn 62 in June 2022, what are my best options?
Comment from : @rickschaeffer1113

Who decided these laws that limit our seniors earnings was good? How do you justify making people work most of their life & pay into this system to only be controlled This is a very sad thing that's been done to us
Comment from : @lolodixon1212

Is alimony considered income I know it is for the IRS
Comment from : @dianedee9529

My husband is 62 and will be working part-time while receiving social security benefits I will be turning 50 soon and will continue to work full-time I will be earning around $30,000 and he will be earning around $15,000 at work plus his social security benefits (around $13,000) Would it do any good for us to file separately so he receives all of his benefits? Or do we need to reduce his income even more?
Comment from : @wendym8609

Are limits different for married living separately couples?
Comment from : @wm3138

What about rental income? I rent a house out and get income from that Is that considered income?
Comment from : @michaelskinner1777

Way off question:brbrHow do I find out how much money I gave SOCIAL SECURITY OVER MY WORKING LIFETIME ?????brVsbrHow long do I have to live, after start collecting, to get it all back?brProbably? WITHOUT INTEREST!
Comment from : @roberthein2156

Great information! Thank you! I have more questions about Self Employment Net Earnings, but will watch more of your videos
Comment from : @laurapatch2420

What about the one on ssi income
Comment from : @williamingle8072

Is there a video that explains Social Security benefits with self employment income? I started drawing SS this year at 63 Last day of work from regular job was end of Oct 1St SS check received was Dec 1 Self employment income for 2021 (12 months of working) will be about $10,000 Not sure if there will be a penalty or not
Comment from : @allthethings7198

I turn 66 in September add 4 months FRA I’m assume I’d be eligible in December for FRA so is my earnings limit will be the $51K and not the $19,560 is that correct?
Comment from : @darylsimmons919

I got letter from ssa RITEREMENT and dshs send me letter that I am going to recieve only 4900 dollar
Comment from : @sweetapple5806

Devin, I have a question regarding the Monthly/Yearly Earnings Limit that I can not find the answer for here or on the government website Is there an address (email) that I can ask you my specific question ?
Comment from : @brentdoolin4791

I am turning 67 in 2022 and on ss now Can I get more on my ss???
Comment from : @lindaroof9935

Great news Devin
Comment from : @timmehallaenious910

59increase will give $3018 Thank you
Comment from : @rairam6428

I have a pretty easy question for most of you, but I have not been able to get a clear answer on it My wife and I are planning on retiring in the next few years, and I want to know if we both retire at 67 that both of us will collect 100 percent of each of our SS as long as we are both still alive, and not reach the income limit if we both don’t work? Will one effect the other under normal living circumstances? Thank you
Comment from : @JONARICH

Will selling my primary home effect my SSI benefits if I have a $100,000 capital gain?
Comment from : @adventuresfloridatothailan5217

Social Security is welfare for old people There should be no incentives to collect while you're still working
Comment from : @walterknox5953

I was on SSD for years Finally able to get back to work I notified SS that i was working and to my disability payments They continued paying me for years Have numerous emails and letters asking them to stop They never did Finally they answered my pleas and said i owed the 20k in back payments Yea i should have banked that money but it was not financially able to and needed the income I still owe them 10 plus thousands I’m now 63 and thinking of applying for SSI Wonder how much they will deduct from each check? I’ll be back in the hole and need to return back to work! It’s a never ending cycle
Comment from : @jhollie8196

As a senior, receiving SS, I let an accountant tell me if I have to file income tax or not
Comment from : @teacherg28

Is that income limits gross or net? thank you very much
Comment from : @mikemadikia2116

These rules are foolish when Biden blocks XL pipeline, spends like a drunk and causes inflation Remove the limits
Comment from : @patfallon3395

I retired at age 69 what is my earnings limit?
Comment from : @jeremiahkinores953

What bout Married couples some people s has too separate from they're husbands & Wives cuz can't live together
Comment from : @lauriehope8607

These thumps down idiots are in Mexico waiting to sneak across the border and file for Medicare under Joe Biden's rules and want "more, more" Just like Joe and all the stupid democrats want from us
Comment from : @chesscornett6187

Every social security COLA is taken back by HUD section 8 and USDA ebt When we got a 1200/month raise a few years back, HUD raised our rent by 800 EBT took away 300 food That left us with a ONE FUCKING DOLLAR/month of COLA raise What the fucking hell ALL three entities are still operating on the cost of living figures from 1983 This figure has NEVER been updated In 1983 you could live on 92839 a month Today you simply CAN'T We are trapped in abject perpetual poverty It is not only cruel to seniors and the disabled, it is borderline barbaric!brWe are suffering trying to live on 11,14000 a year!
Comment from : @watchcity2068

We were asking ourselves these exact questions just yesterday! Thanks SO much!
Comment from : @elainethepain9418

Iam new to your channel and I am pleased with the information about social security increased I pray that this will come to passed because we have waited for many years to this day yo see another large increased that is due to us for so long now moving forward to our happiness
Comment from : @shirleysutton5881

Thank you
Comment from : @dwalker6868

thanks for making this easy to understand the answers you gave are good answer's
Comment from : @karensims1558

I tried to keep my earnings at my PT job under the 2021 but we got a $200 Covid bonus (after taxes I got $139)I have total anxiety daily over this putting me over my limit If my SS check is $1300 a month, will they withhold an entire check?? This is my total rent/utilities Or will I get a SS check for $1100 after I file my taxes in Feb? Help me please!
Comment from : @KayMN

I am getting survivor benefits through my husband I suspended my social security until I retire at age 70 how does that affect me I am now 68
Comment from : @annettebehning1427

Good informationbrI however am planning on retire November 2022 I will have 10 months of earning approximately equal $76000 If I understand the limit, I will receive no SS payment for November and DecemberbrAm I understanding this correctly?
Comment from : @markcrouthamel3198

Keep in mind this only applies if you start taking SS before reaching full retirement age Good Video, informative, just a little too much time self promoting
Comment from : @Gypsy2057

The real question is if your retirement benefits exceed your ss benefits?
Comment from : @rockystaatz521

I csn retire next year at 62 But I've been working since I was 15 and I been putting taxes in all along I keep hearing about social security going out so my question is should I retire with Social Security and work part-time
Comment from : @sirmuff01

What about benefits? If my health insurance package is worth $8000, does any of that count as income?
Comment from : @timmcdonald9856

I will be drawing out of a family trust fund after I retire at age 62 Is this considered income? And if so do I have to keep my withdrawals under $19,560?
Comment from : @int53185

I'm 70 years old and what I get from Social Security is not enough is it okay to go back to work and they won't charge me anything for going back to work in a like a dollar for every $3 I make
Comment from : @judytaylor7673

There are No links below your videos!!!!!!!!!!
Comment from : @jalo992

This is a systemic corrupt process to keep our seniors from a life of dignity, and keeping them at a poverty level of income Early retirement at 62 is ridiculous, should be full retirement at least about 60, when other countries have at 55 Early retirement at 62 with poverty level limitations are just ridiculous, and this seriously needs to CHANGE!!!!
Comment from : @joeyshelton4064

Great stuff
Comment from : @pryan56

Can you do another video like this for the people that are on disability social security or SSI and things like that that would be great thank you
Comment from : @johndueringsr5147

What is the Is Max wages if you're on social security disability
Comment from : @johndueringsr5147

You can thank Past Pres Johnson for this ss mess After Kennedy was shot, Johnson stepped in SS WASin a separate fund Johnson n company demolished that & put OUR money into the "general funds"to do & use however they wish
Comment from : @bluegrassgal7856

I was planning on retiring on November 6thbr Now things have changedbrMoving it to January 7thbr I will make about 4000 a month 8 k for nov n janbr I will receive 1065 in benefitsbrWill hold back 8 months of benefits???br Can o stall the benefits till jan
Comment from : @patbaldizan6168