I stuck myself with early filing at age 62 and was still working. I'm 66 now and continue to work. When I filed my earnings for the previous 36 quarters were $103,189 and my payment was $937. Most of which I never received. Now they are $205,201 and I receive $1107. My current income is even higher. Will I recover the with held payments, and will I benefit from the increased earnings?

I am 62 and I have two dependent children under 19. One is 12 and the other 15. I know they can get some of my benefit each month and I would like to start receiving it for them. I do plan on continuing to work for another 3 to 4 years and will definitely exceed the income limits therefore causing my benefits to be zero. Is there a way to file and get the kids their benefit and have it continue even if I exceed the income limits?
Please advise and thank you.

If I take my retirement benefits at 62, will I still be able to work full time without penalty? I plan on taking widow benefits at 66.

If I make a little money writing magazine articles, does that affect my Social Security benefits? I am 72 years old. I have been receiving retirement benefits since age 66.

Susan,
No, making a little money will not affect your Social Security benefits since you are past your full retiement age.

Thanks,
Mike

I am 64 and May receive a lawsuit settlement of $39,000 this year. I have been receiving SS since March of this year.
Due to income restrictions, how will my SS benefit be impacted if this award is received?

Hi,

Due to a major job loss 6 years ago, I had to take my social security at 62. Since then, (18 mos later) I found a job paying a 10th of my prior earnings. I made 35,000 in 2015 and SS had contacted me stating I must repay over $9000 of what I collected in 2015 within 30 days. Then the will reduce my benefits. First are the benefits lost or will they go back into my account? Second I don't have the money to repay - what happens, Can I suspend the benefit so it may become greater? I don't know what to do.

Hello Larry-My wife turned 62 last year and is collecting SS benefits. She is, of course, limited to the $15720 annual earnings limit. My question is this: my wife will earn around 17K this year if she maintains her part time work schedule as it is now. If she makes an IRA contribution of at least the amount she earns over $15720, will that prevent SS from withholding money for having gone over the earnings limit or does SS only look at total earned income?
Thank you...........Dave

Hi Dave,

I filed for social security benefits in May, 2016 (I am still working and will continue to work). I will turn 66 (FRA) in august, 2016. I was told by the Social Security rep that the withheld benefits for May, Jun and July (suspended because my earnings exceeded the limit) would be paid in a lump sum in January of 2017. Can you tell me if that is the case? I am expecting my first social security check in September 2016.

Hi, I am 63 year old and I would like to know if I could start getting my benefit now and still continue to work. Thanks, Williene

I am 62. Will withdrawing funds from my 401k be considered earned income, and then if it exceeds the $15,000 threshold at 62 cause me to lose $1 in social security for each dollar over that set limit?

Hi,

No, withdrawals from your 401K will not count toward the Social Security earnings test limit. Only earned income, specifically gross wages and net earnings from self-employment, is considered.

Best, Jerry