How Work Affects Your Social Security Benefits

How much can I earn if I’m on Social Security? That question is one I’m sure we’ve all asked ourselves, if we were continuing to work while drawing our Social Security benefit. I have friends ,in the insurance business, who have to be careful with their total sales commissions for the year, so it doesn’t effect their Social Security benefits.

Are you taking your Social Security at 62 or are you waiting till full retirement age? Depending on when you were born your benefits would be calculated differently. Even your full retirement age could be different.

When talking about Medicare health coverage, or adding a little more life insurance, or considering Long term care coverage, ones whole financial picture comes into play. Finances can be challenging, but when done properly it will reap it’s rewards. It is so rewarding being able to help individuals with their overall retirement needs.

Dave Obregon  888-355-1599

You can get Social Security retirement or survivors benefits and work at the same time. But, if you’re younger than full retirement age, and earn more than certain amounts, your benefits will be reduced. The amount that your benefits are reduced, however, isn’t truly lost. Your benefit will increase at your full retirement age to account for benefits withheld due to earlier earnings. (Spouses and survivors, who receive benefits because they have minor or disabled children in their care, don’t receive increased benefits at full retirement age if benefits were withheld because of work.) (click here)

Please follow and like us: