I took early retirement in 2017. I started receiving ss when i turned 64 in 2017. I then returned to work part time and was told by SS that I could not earn more then $1410/month in order not to exceed the amount I could make while receiving ss. Normally the amount would be 16,000 approx but it needed to be divided into 12 monthly payments. I could not earn the full amount of 16,000 in the 4 months I would work before the end of the year. Now we are entering 2018. It will be my first full year of retirement but my full retirement age will not be until 2019.
I have already started drawing my SS, but plan to return to work. I will reach full retirement age (66) in January 2019. Since January 2018 is one year prior to my full retirement age, how much can I earn in 2018? Does it go off the calendar year you reach FRA or the calendar year? Just abit confused.
I took early retirement @ 62 last July 2017 because of no work in the oil field. I have a chance to go back to work this November for just a few weeks or so. I make $650 per day doing Wellsite geology and will quickly be over the allotted limit. I would like to pause (suspend) my SS payment for November, then restart my SS payment in December. Is this possible to do and what should I say to the SS rep when I call. Thanks, Phil
If I retire in January at the age of 64; can I still work until my retirement checks start in March?
In order not to lose any of your benefits next year, you would either have to earn no more than $17,040 for the calendar year of 2018, or no more than $1420 in any of the months for which you are entitled to benefits.
Good Morning; Have your book "Get What's Yours," but still have few questions. I work at UVA, and have the following plans: I contribute 5% & they match 9% (monthly) in addition, I contribute to a (optional 403b) as well as Cash Match. I am 69 and will be 70 next October. I am in good health, like my job and want to continue to work to at least 75-76. Question: Since I am over 50, I know what the maximum yearly contributions are (24k).
My brother, who lives in Texas and is 66,(he took social security at 62), his social security has been denied him for the last four months because they say he's making too much money. But he's still paying in! I thought social security amount was last amount you made when you signed on for social security at proper age and the amount stayed the same. Always. Wjat is going on?!
My wife is 64 and will retire in Jan 2018 and take her SS benefit. I understand since she is not 66 she can not earn more than about $14,000 in 2018 without taking a penalty. She will be drawing from her 401 K however and this amount may be over the $14.000 amount. My question is, Is money withdrawn from a 401 K account considered earnings toward the $14,000 limit?
I have applied for benefits 10/2017, MY FRA is 7/2019 when I will be 66. I understand I can make a certain amount working . however , I have been contacted by a company and if selected I would earn much more.... Let's salary would be 65K TO 75K. how does this affect my Benefits?????
You can be paid benefits for the rest of this year if either:
A) Your 2017 earnings don't exceed $16,920; or,
B) You don't earn more than $1410 in any of the months October, November or December.
I will be FRA (66) 1/2018 and am still working and plan to continue. I would like to receive my first check 01/2018 instead of 2/2018 which will cost me about 10.00 for drawing it a month early. I will indicate that I would like to receive it 12/2017 (c. of question 26 application) so the check will be available 1/2018. Now I will have made over the yearly earnings so will I have a problem? Any advice will be appreciated.
I am >FRA and I am currently receiving 50% of the spouse's PIA. I understand that my spouse's benefits will be reduced (by $1 for each $2 in excess earnings) If she (2 years from FRA) earns more than $17K in 2018. Would my spousal benefit be reduced when her benefit is cut or reduced because of her excess earnings?