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Social Security Earnings Limit Payback Calculation If You Retire Early At Age 62

Wisdom Investor 3 views

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Does it make sense to you to take Social Security at age 62?
Comment from : @wisdominvestor

He will owe money to Social Security if he has earnings in the year he is 62, when he begins to collect Social Security benefits He is NOT entitled to 12 full checks for his first year if he is working and earning $37,000 If he gets 12 full checks for his first year while he is working and earning $37,000, he will have to pay it back in subsequent year(s) Your figures are therefore incorrect
Comment from : @cindisiegel5137

Thanks! You have explained this better than any video I’ve watched before :)
Comment from : @have_faith_

Thanks !brbrI have a question if I get my social security at 62 this year, and I make $10,000 this year from working part time I will still get my full social security pay check every month correct? Thanks and appreciate !
Comment from : @Ordinary-Hendrik

To get penalized for working in retirement is just EVIL!! Government sucks
Comment from : @catdogky

Excellent video! I’m a construction estimator/PM, I work with numbers/spreadsheets so I’m a “numbers guy” There is a lot to absorb and understand with retirement/Social Security planning You do a great job explaining things By showing the spreadsheet calculations while explaining it makes it much easier to follow It’s easy to see how people who don’t have the patience or willingness to dig into these things to get themselves educated can make poor decisions or even be scammed Thanks for the great information Wisdom indeed!
Comment from : @jimcurry5458

Thanks so much for the advice reply It is so clear, complete and informative I believe I know what to do now 👍
Comment from : @wilsonrodriguez6485

I will wait till I am 66 years oldand collect my ss and continue working as much as I can possibleand build up my IRA, 401k, and stocks, till I can comfortably retire abroad
Comment from : @dw714

I retired at 62 they immediately took my over the limit out right away ,3 months is taken out each year so far l am now 64 l make 25000 O0 a year
Comment from : @marklearned863

Most people WANT to work up until full age but CANT because they feel pushed out by their employers who want them leave
Comment from : @tlw842

great video as this answers clearly the earning limit and payback calculation Thank you
Comment from : @kmconway6

Very interesting
Comment from : @familylifetoo9541

If he turns 62 this year, he was born in 1958 meaning that his full retirement age will be 66 years and 8 months The complexity of this calculation is another reminder of why I need to wait at least another 13 months when I reach 66 and 2 months Thank you for the great information
Comment from : @RealSlopeDude

Great informative video I’m soon to be 62 and this makes a lot of sense to me since my numbers are about the same Need to get my health back to give this a try Thanks!
Comment from : @versetjet2969

This was by far the best explanation I have ever received on what I should do If I get anyone asking me who to subscribe to concerning social security it will be "Wisdom Investor" every time Thank you so much for taking the time to help me with my decision "The Cajun Ninja's Dad"
Comment from : @masterlee4370

And my question I'm 62 but I'm on Social Security Disability but I am looking to get back to work working Reno part-time cuz I did get my ticket to work what's scenario should I follow what's your opinion Just curious because I've been thinking about this whole lot thank you in advance
Comment from : @exoticlovernightfire