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Working While on Social Security? Rules u0026 Limitations You Need To Know! ?

Frames Working While on Social Security? Rules u0026 Limitations You Need To Know! ?

Description Working While on Social Security? Rules u0026 Limitations You Need To Know! ?

Comments Working While on Social Security? Rules u0026 Limitations You Need To Know! ?

What about first year rule Comment from : @tomy5868

You are wrong about the wages being prorated the year you reach FRA SSA does pro-rate the wages and if you make more than $5,166 per month before you reach FRA, SSA will reduce your benefit accordingly Comment from : @stevephelps1144

I worked in 2024 and went over my 22, 320 by 47,000 How will I repay the 23,500 back? Can I write a check or will my SS benefits stop until money is paid back? Comment from : @lo8337

How is the penalty applied? Let's say for 2025 I make 30000 Is the penalty applied to next year or to the check when the overage happens Comment from : @icqdestiny

Thanks!, I am on my full retirement age If I work will my SS still increase even if I am collecting? Comment from : @yumicanlas1874

My FRA is April 2026 I planned on starting my benefits January 2025 which I know I will get a lesser amount I still work full-time and I will make way over the earnings limitbrbrI understand the part of withholding one dollar for every two dollars over the earnings limit, but since it will be my first year collecting, what did it automatically go to a monthly earnings test after I go over the yearly limit? brbrI was hoping to start it beginning of the year and have them withhold probably the first six months of checks to make up for the overage and start receiving checks after that for the rest of the year to get some cash flow going to pay some debt If it does automatically go to a monthly limit after going over, I know I won’t fall below the monthly amount in any month so in that case, I believe I would not receive anything towards the end of the year correct me if I’m wrong please Comment from : @DigitalGrowthWithGeorge

I'm 63 this year, and I'm still working, My full retirement is 67, and I'm planning to retire 65, I still have two underage kids Is that a good retirement age? Because if I wait more, I will lose my two kids' additional income Comment from : @amkerom

I have a question, i was 1957 and i take my retired at the age at 65 and half, i'm thinking going back to work so if i do that i can make as much money i want??? Can someone help please! Comment from : @ildacosta6965

If you take some income and put it in 401k from your check so you can meet max limits, does that money count as income ? Comment from : @angelaetress632

Hugely helpful, while I am turning 70 in Oct I waited to collect , being self employed my income varied so I waited to take it at 70, Comment from : @leavanwinkle1740

But they always go by monthly you can only make about 1,700 annually before taxes Comment from : @ErickJones-ny8vp

This guy never explains that you get more checks so you dont really get a penaltyNo your not growing anything by waiting you just have less time on the planet left Comment from : @krakhour2

Question If you return to work before FRA and are subject to the penalty, do you get the penalty amounts back at FRA… or is that taxed money gone forever? Thanks Comment from : @toadie1111

They say I owe them all the payments I received in 2023 starting in may because I made too much money that year, but, I owned my own business and made that money PRIOR to starting to receive my SSA benefits I am 65 Isn't it true that if you made the money before starting benefits, it doesn't count? Just because it was in the same year doesn't mean I made any of that after starting my benefits Comment from : @Squddle

I'm confused What happens the after your FRA and you still work? My husband reaches full retirement age in June 2024 He will be close to $56,000 for the year in June when he starts collecting his SS If he continues to work the remainder of 2024, will he be penalized? If so, will the penalty continue next year too? Can anybody answer these questions? Comment from : @cindym7234

What about workers Comp Comment from : @albertalston3400

I am classified by the US Department of State as a "National" which is also identified as a Nonresident Alien by the IRS As such, I am currently working full-time for a private company, and not the federal government In the capacity of a "National" and a "Nonresident Alien, per the IRS I am not required to pay federal income tax Subsequently my employer does not withhold for federal income tax Question: How does this affect my social security benefits if I continue to work full time and collect social security at 62? Since I'm not taxed as a Nonresident Alien, I assumed I could work and generate as much income and not be penalized if I go above the income limits established by the SSA? I am fully vested in SS and American born I have a US passport and I'm also retired military Comment from : @springalot9820

How likely is SSwilling to work with you on extended pay back arrangements if you receive an overpayment letter? Comment from : @garybollrud8968

The working number of 21,000 is property that needs to be raised to $40,000 Comment from : @richtaub3124

while you're working you still paying into social security Comment from : @Joel-yt2vf

Hi, love your videos! Are you sure there's never a monthly amount to exceed when working and drawing SSI? For instance, I'll be 63 in January, I'm thinking about taking SSI in January, and working until the end of May That would put me right at $22,000 for the year Can I do this? Comment from : @markbentien8094

Why do they still take social security n Medicare out of your check after you retire n still working but not increase your social security benefits every year after your full retirement age Comment from : @mikecliburn7800

My FRA is confusing to me I work and my birthday falls in July FRA will be January 2024 (66 & 6 months ) Will I miss out on the calendar year test for extra earned income? Comment from : @jacquelinezapata2921

What is the name of your company and can I have a virtual appt? I have so many questions because it seems like I hear different information depending on who I talk to My FRA means that I should retire on Nov 2024 I have so many questions about SS and Medicare and about my pensions I need to talk to someone reliable I love your videos They are easy to follow Comment from : @KimHunterRichards

That’s what I do? Working beyond full retirement age and collecting social security Comment from : @jhasemi

Do funds withdrawn from a Roth IRA after 59 1/2 count as part of MAGI for medicare premium determination purposes? Comment from : @MrCPPG

21500 in 2023 how much increase in 2024 Comment from : @howardhughes4920

Videos are very helpful just not sure if I'm quite st the retirement age to be able to work part time and it not effect my social security, because I really rely on it to help me make it each month Comment from : @debrabrady8476

Professor, What happens to the earnings penalty clawback? Is it restored later? Is the penalty really just a deferral? Comment from : @bills2814

Excellent 👍 information I've reached full retirement but am still working and was concerned about the earnings test Very helpful Comment from : @rsdokc

If I retire on the age of 68 years of age past my full retirement ageWill I have earnings test? I will be 68 years of age on 10/25/2027 Comment from : @johnensslen

So, I was born in 1958 and my FRA is 66 and 8 months I turn 66 on Mar 3 2024 If I file for SS say, April 2024, will I get penalized? Comment from : @timothyfender1222

Remember you don't lose the money taken from your earnings test, you get it back at FRA but, of course, because it's social security the calculations can be complicated Comment from : @chrisferretti7020

I'm right now in big problem bc I apply for social security in April 2022 I was just 65 my retirement was June 30but now I was receiving letter from ss telling that I have to pay bach 4331 I was choked bc I didn't know that I wasn't full age retirement also they say that I make above 19 thousand I'm so confused need help bc it wasn't my fault I guess😭😭😭🤦🤦🤦 Comment from : @lolalucky6373

Great information - thank you Comment from : @fionpica7406

I wasn't going to watch this one and I know some people have to, but I wanted to say---They would have to drag me kicking and screaming to get me to go back to work, and I loved my job Comment from : @ohiopat

Love your videos! So very helpful! Comment from : @mcampbell650

Thanks for all you share with us Comment from : @eddiemckinney8385

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