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Would I Draw My Monthly Benefit Amount If I Have Met The Allowable Wages For The Year?

I will be 60 yrs of age this year and want to draw widows benefits. Would I draw the monthly amount if I have met the allowable wages for the first year ?

Hi. As long as you earn less than $18,960 for the calendar year of 2021, none of your benefits would need to be withheld due to your earnings. Even if you earn more than that, though, you could still be paid for any months in which you earn no more than $1,580 (https://www.ssa.gov/benefits/retirement/planner/rule.html). If you earn more than $1580 per month and more than $18,960 for the calendar year, Social Security would need to withhold $1 for every $2 that your earnings exceed $18,960.

You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry

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Posted: 
May 2 2021 - 5:12pm
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