Video & Multimedia
Related: About this forumSHRED
(28,136 posts)"Working three jobs, isn't that terrific. Only in America."
Thomas Hurt
(13,903 posts)muntrv
(14,505 posts)Delmette2.0
(4,171 posts)And keep working. That is what my sister is doing.
There is a limit on your income. Please check with Social Security Admin. and find out where you stand.
PoindexterOglethorpe
(25,902 posts)Currently anywhere from 66 to 67, depending on what year you were born, you can collect Social Security and earn as much money as you can without losing any of the SS.
People really need to learn as much as they can about exactly how SS works, because the decision about when to take it is often a complicated one. I recommend the book Get What's Yours: The Secrets to Maxing Out Your Social Security by Laurence Kotlikoff, Paul Solman, and Philip Moeller. Make sure you acquire the revised one that came out in 2016, because that covers the revisions to Social Security that went into effect that year.
Plus, they take sharp exception to the all too common decision to take SS at the earliest possible time, pointing out that for many people the risk of living a very long time is much greater than the chance of dying too soon. That larger check starts looking better and better as the years go on.
wasupaloopa
(4,516 posts)the more is taxable starting at a certain earned income amount.
PoindexterOglethorpe
(25,902 posts)once you earn over a certain amount (currently $17,640), you will lose you lose $1 in benefits for every $2 earned over that amount. Plus, since your SS benefit is based on your 35 highest earning years, ideally you want to work long enough to have at least that many years of paying FICA.
wasupaloopa
(4,516 posts)rurallib
(62,451 posts)lazy old people.
lambchopp59
(2,809 posts)Are there no prisons!!!???
underpants
(182,903 posts)So why not this?
NBachers
(17,143 posts)I'm getting my full Social Security payment; it's not limited by my income. I'll be taxed on my Social Security, so I'm having them deduct 7% from my monthly check.
I'm also having my Medicare and my Senior Advantage insurance taken out from my SS check. I get less in the bank, but it gets all that billing out of the way every month.
I'm walking 8 to 9½ miles a day at work, and doing lots of physical stuff all day. I don't see when I'll be able to afford to quit.