Earnings Test

How Does The Earnings Test Work?

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Larry, I'm confused on the earnings test. My DOB is 1-5-1952, if I retire this year (2017) @ 65 and still work, how much could I earn per month and not effect my benefits? I plan to retire in July and will have made about 35,000 this year at that point, It seems the earnings test doesn't do me any good because I don't reach FRA in this year. I miss it by 3or 4 days. I'm I correct on this?

Hi,

How Much Can I Earn In The First Year Of Entitlement To Benefits?

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RE: First year rule I am retiring in March 2017 at age 62. I will be earning between $1000 and $2000 each month for January and February. How much can I earn between March and December? Is it $14100 for that 10 month period (irrelevant of how much I earn each month as long as it doesn't total more than $14100) OR is it no more than $1410 each month because of the first year rule? Thank you.

Hi,

Will My Wife's Earnings Cause My Benefits To Be Reduced?

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I am turned 62 in 2016 and started collecting SS benefits. My wife is 47 and still works and makes about $48K per year. I realize that my SS income will be subject to income taxation, but will my benefits be reduced due to her earned income? Thank you!

Hi,

No, only your own earnings count toward the Social Security earnings test (https://www.ssa.gov/planners/retire/whileworking2.html).

Best, Jerry