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How much money can I make if I’m on Social Security and how does it work?

Sarasota Tim 10 views

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keep your hands on the wheel, sir, don't want you to "leave this world" ! lol
Comment from : @philliplott4985

I did some googling and delaying your Social Security benefits until age 70 could be a better option By waiting until age 70, you can maximize your monthly benefit amount due to delayed retirement credits, which increase your benefits by 8 per year for each year you delay claiming after your full retirement age (67 for those born in 1960 or later) This can result in a significantly higher monthly benefit, providing you with more financial security during your later years
Comment from : @markmodesti

I feel pretty lucky that I am a hairstylist/nail tech, and I get paid commission only If I retired, I could still easily work
Comment from : @bonniepaynter5624

Any idea what the cap will be for 2024? When might they release that information?
Comment from : @snackman2005

I love the alignment on that 4 Runner, no hands on the steering wheel and it went perfectly straight I agree with you Tim everything in your video was 1000 correct! 🙂
Comment from : @Greg-pi1tg

Excellent advice ⭐️ Love how you break it down & talk about enjoying quality time versus staying unhappy at a job that’s not healthy, when you can collect & side hustle to supplement 👏🏻⭐️👏🏻⭐️ Keep Crushin it! 🎉👏🏻⭐️
Comment from : @JoyVillecco

I’m only 50 I’m worried there won’t beSS for me when it’s time to retire
Comment from : @kristiboyer1625

My problem is if I earn one penny I will mess up my healthcaregov subsidies 😩
Comment from : @harlotta128

You can change you own oil for about $40 and dealer charges over $100 plus the parts store must take back your old oil
Comment from : @johnmarino4085

My grand dad died at an age over 100 yrs old My dad died at 90 years old I…
Comment from : @yawzerdoink-a-sore-as

I don't qualify for my Teamster pension until 65 but ill do with a PT at 62 along with my SS God willing 5 yrs to go Can't wait because bosses always pressure and scrutinize any little mistakes you get write-ups
Comment from : @mexican-americanpatriot721

Thanks Tim, you make me go look up lots of the social security rules and I always learn something
Comment from : @AMMandrea123

Good information Tim, thanks
Comment from : @Brad1960

No matter what or how you try to do it after retirement, the IRS is there to fuck you over royally Here’s a secret……don’t even file! You have nothing to lose in the long run
Comment from : @irisfbernard8377

Tim, not sure if you will see this but you should do a video on income limits for Obama care subsidies I think it’s like 17k single or 34k married before it gets expensive I also read that SS income is factored into this
Comment from : @ShutterFanatic

#Morganstanley needs to hire you Tim ! Keep crushing it !
Comment from : @Maria-tq8ck

I assume you can use ypur standard deduction as part of the equation for earning So if you make 40k and the standard deduction is 21 k so you are at 19 k which is under the threshold for social security Is that right?
Comment from : @jw5831

Hey Tim, I have really enjoyed your vlogs Does the sun glare really irritate your eyes? I know you have mentioned that you have glaucoma, and I am a Florida native and very careful about sun glare Do you find any type of sun glasses (color of lenses) that are better?
Comment from : @daleguenther5826

Ok, so you are talking "Earned Income" being subject to the holdback Income from Pensions, withdrawal's from IRA's and such, do not count towards the $21k Earned Income limit
Comment from : @bigjohnson7415

I just don't understand how the government is telling me "how much" I can earn It's my money that they took all these years, correct? So if I want to retire at 62 years of age, (And still have a good job) why am I being penalized? YesYes I know this is "The way it is" Still makes zero sense to me 😲
Comment from : @johng4959

How can you be minimalist driving new 4runner from toy o ta?
Comment from : @mccoyji

How about being a mailman?brOpenings in my town
Comment from : @mccoyji

Won’t everyone get an adjustment of their income at end of year? I think it’s 12500 single and maybe 25000 married?
Comment from : @chrisk4053

Hey Tim I live in western Lantana, Florida and I watch your videos but never commented We are about the same age I have to comment on this one because you are giving some misleading info The $21,240 you can make from age 62 to FRA if collecting social security is for "earned" income only That is income from working (W-2 or net income after expenses from a business) Adjusted Gross Income is not a factor You can have unlimited income from gains from stock or real estate sales, payments from a business you sold, interest and dividends from investments, pension income or IRA withdrawals, net rental income from rental properties and other "unearned" income and it will not be part of the $21,240 So you actually could have hundreds of thousands of dollars of income (AGI) from 62 to FRA, and not have to pay back any SS Think of the $21,240 as income that you have to pay SS tax on That is "earned" income
Comment from : @glennkopensky2659

It looks like your experience with Homeowner Associations is similar to mine, when I asked them if it was OK for me to park an enclosed cargo trailer in the backyard, the answer was: "As long as nobody complains" and out of the hundreds of houses in this neighborhood, we have a busybody 4 doors down that does that for a hobby
Comment from : @gsp49

I will be turning 66 in 2 weeks and for this year I can earn 56,52500
Comment from : @joelwolf7961

Social Security is just a program of sustained poverty that only a control freak democrat could like My grandfather worked for the railroad, and was exempt from having to pay social security, A week after his retirement party he got all of his retirement money in one lump sum, he never had to wait till the first of the month to get a chicken feed payment from big government After he died, all of the money was there
Comment from : @gsp49

Convinced me😀
Comment from : @dukej4971

Finding a side hustle that pays in cash 👍🏼
Comment from : @sonhuynh8222

How much do you think it will go up to for 2024maybe 22,240?
Comment from : @gregmccarter3243

The standard deduction went up because of Trumps tax reform
Comment from : @chickenfeet9558

Thank you! Thank you! Yep Spot on! 💯 Just found out this vandweller channel makes $60000 a month giving plasma!!!🎉🎉🎉
Comment from : @FeMiNem-Poet

Pretty soon as youtube channel grows and if monetized, you will hit the income limit correct?
Comment from : @onlywenilaugh6589

Excellent explanation! I agree 💯 Drawing at 62😎Have a wonderful day
Comment from : @DrewHoffer-ok9rw

Thank you God for waking me up today 🙏😇🙏
Comment from : @JoySpirit888

The politicians making 1 million a year are making the rules for the masses that screw us over
Comment from : @JoySpirit888

The government is a scam limiting how much money 💰 you can make on Social securitybrThe system is rigged against the average person
Comment from : @JoySpirit888

What income does the 2 for 1 apply to? Just w2 income? Or does it apply to money you earn from real estate or stocks too?
Comment from : @justanotherbigdude

God's blessings to all Amen 😇🙏😇🙏😇🙏😇
Comment from : @JoySpirit888

The longer you wait to take Social Security the lower your federal tax bill would be Many need to take this into account The total Social Security you make is divided in half before adding to other income earned Combined income rules for taxation of Social Security As a single person you don't want a combined income more than $25,000 to avoid Social Security being taxed
Comment from : @hardcor1313

Would be nice if the government didn't tax retirement Social Security
Comment from : @SilverSergeant

Tim, you draw SS and work up to make $41,000 ish Do you draw a retirement was well?
Comment from : @theartcoach

ANOTHER INSPIRATIONAL brVIDEO FROM THE MASTERbrTIM, YOU TRULY ARE ANbrINSPIRATION TO ALLLLLLbrAND I'M TRULY PROUDbrTO HAVE YOU AS MYbrINSPIRATIONAL FRIEND‼️brYOU AND MISS TAMMYbrHAVE A BEAUTIFUL RESTbrOF THE DAY AND AS YOUbrALWAYS DO, 💥CRUSH IT💥brALONG YOUR WAY😎😎😎brTAKE CARE 〰️ 〰️ TROY👍
Comment from : @troyadank6278

The income limit prior to FRA sounds like a way to discourage us from collecting "early"! Not gonna fall for it! I've got 75 years to crush it before I hit 62
Comment from : @misskelli222

I keep hearing some of these pie in the sky youtubers say DON'T TAKE SOCIAL SECURITY AT 62!! WAIT UNTIL 70 !! YOUR MAKING A MISTAKE !!! It is so arrogant of them to just assume they and you will live until 90 years old Meanwhile the reality is only 47 of the population will live that long According to the social security longevity tables more than 30 of USA seniors will die before age 70 Roll the dice baby, I am taking mine at 62
Comment from : @MississippiPickers

How much do you think it will go up to for 2024maybe 22,240?
Comment from : @gregmccarter3243

I work from home as a result of the pandemic and I still can't wait until 62😀
Comment from : @UncleJam5624

I recommend driving a few more minutes south to King Toyotabin Pompano Beach rather than Ed Morse in Delray King Toyota is part of the JM Family and is top notch
Comment from : @kingnole7540

People shouldn't be punished if they want to work, while also collecting Social Security!! It is not a good idea to discourage senoir citizens to work, as this country is full of people who don't want to work as it is already!!!
Comment from : @geoffdevore6321

The standard deduction increase is only temporary it sunsets in 2025 unless extended by congress It will be cut in about half
Comment from : @UncleJam5624

You singlehandedly convinced me that retirement at 62 is right for me Thanks, Tim
Comment from : @PeterP_777

💯agree!
Comment from : @TinaLucille

Tim, doesn't social security, when we reach full retirement age, refund the money we had to pay back?
Comment from : @MrComedyisme

its gross income
Comment from : @terrylandon7578

Tim Q, Turn 62 in Dec, but wont collect first check until Jan, does the 21, 400 apply to this tear or next year Thanks great videos1
Comment from : @EricPowell-ud9eg

Tim is the amount we can make in a job pretax?or after tax?do you know?thanks
Comment from : @Beingnessing

Only idiots in our government would limit how much you can earn while on Social Security Why not encourage people to work so they continue to pay into the system and continue to pay taxes Social Security is going bust and this simple change can bring in more revenue to the federal government to keep Social Security around for years to come
Comment from : @thetube007

Hey Tim, congratulations 🎊 35k love your videos like you when retired I sometimes don't know day or date only thing I know everyday ends with Day 🤣 have Blessed Sunday God and Tim are always crushing it🙏👍
Comment from : @JohnH33817