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Jan

18

Social Security Earning Limit?

Filed Under Social Security | Leave a Comment 

Question:

If you are on Social Security what is the limit on the amount you can make if you go to work?

Answer:

The amount allowed by Social Security this year is $13,560 or if your using the monthly test $1,130 a month. If it is your full retirement year you are allowed to earn $36,120 from January to the month before your full retirement age month. If you are on Disability the rules are completely different.

Please let me know if you would like clarification or additional information.

Jan

16

Return to work or not

Filed Under Social Security | Leave a Comment 

Question:

Hi, i have a question. My mother is 62 and has been collecting widowers benefits. In July of 2007 she went out of work on medical disability for treatment of breast cancer. We are deciding if she should return to work or not. How would her widowers benefits be affected if she does not return to work at this young age?

Answer:

Your mother is receiving widows benefits and is subject to the earnings limit. If she is earning under the $13,000 allowed by Social  Security, she is getting her checks monthly.  Her work is not counted if it is under that amount. Otherwise Social Security is holding $1 for every $2 over that amount. If she cannot return to work because of her disability she should file for disability on her own earnings. She could get a higher benefit amount and be eligible for Medicare after a two year waiting period. Widows should start checking their own benefit at age 62 to see if it is more beneficial to file on their own earnings.

Nov

9

When Should I Collect Social Security?

Filed Under Social Security | 3 Comments 

Hi,  Thanks for taking the time to read my blog.  If you have any questions about Social Security, please ask.  This is a new blog for me and I will use the questions you send in for future blogs.   I will never post any ones name, or other identifiable information in my post.

You should collect now if you are 62 and earning $13,560 or less per year. If you are planning on continuing to work, Social Security will hold $1.00 for ever $2.00 you earn over $13,560 from your benefits.

Widows/Widowers benefits start at age 60

For instance, you could earn $18,560.00 in 2008 and only have $2,500 of your social security benefits withheld. This would be 2 1/2 checks if your benefit rate was 1,000.00. You would be getting 9 1/2 checks!!! Dont wait if you think you might be eligible because Social Security CAN NOT give retro benefits for retirement except in rare cases.

Please feel free to post a comment or reply with any questions. The author worked for the Social Security Admin for over 28 years.