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Your plans to work in retirement: If you take a job that pays more than $12,960 in retirement while collecting benefits, your benefits will be reduced by $1 for every $2 earned above that threshold unless you are past your full retirement age of 66..

Yes if you choose to start collecting SSB at age 63 before you reach your normal retirement age (NRA) then your earnings each year will be subject to the earnings test each year until the year that you reach your NRA or full retirement age (FRA).

For 2010 the earnings test amount is 14160.

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13y ago
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13y ago

There is no limit on the amount of money you can earn while receiving Social Security retirement benefits after you reach full retirement age. At 70, you are well clear of that mark.

Full retirement ages

Born before 1943.............65 years

Born between 1943-1954..66 years

The full retirement age will gradually increase each year until it reaches 67 years for people born in 1960 or later.

Early retirement and earnings

If retired below full retirement age: $14,160 per year, and for every $2 over that limit, $1 is withheld from benefits.

In the year you reach full retirement age (prior to your birthday): $37,680 per year, and for every $3 over the limit, $1 is withheld from benefits until the month you reach full retirement age.

For more information, see Sources and Related Links, below.

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14y ago

When you are 71 years old, you can work all you want and earn all the money you can earn and still collect social security.

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12y ago

At that age - unlimited.

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Q: How much money can you earn working while collecting Social Security you are 63 years of age?
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When collecting social security and still working they still take social security out of your pay where does the money go?

To the same place that it was going before you started receiving your SSB. To the trust fund.


How much money can you earn working while collecting Social Security you are 16 years of age?

when i was 16 years old i was earn monthly 1500 dollar


You are still working 67.5 yrs old if you become disable can you apply for disability instead of regular social security?

Sure, but it's a waste of time. Applying for disability is a pain in the a** and it won't get you any more money. You should be collecting regular Social Security right now, even if you're still working.


How much money can you earn working while collecting social secruity you are 62 years of age?

Social Security payments received upon retirement depend almost entirely on the amount of money that has been paid into the system in the working years before that time. How much work is done and what income is earned are the main factors. Also important are the legal guidelines of the Social Security system itself at the time of one's retirement.


Is there money in your name tied to your social security number at your access?

You cannot access your social security entitlement until you are eligible to collect social security. Then the people who are working will fund your entitlement.


What does the money form social security taxes fund?

Social security is basically when the government takes a certain percentage of money from the working generation and gives it to the retired generation. When the working generation become retired, they receive social security. Social security started after the Great Depression, when the government needed to make sure that people had money stored away to live after they stopped working. People get certain amounts of social security depending on how much they and their spouses worked as young people, as well as what jobs and how much they gave to social security. The current problem with social security is that the baby boomers are now becoming retired, and there are more of them than the current generation of working people. There is not enough money to support these retiring people, and unless the government subsidies social security or takes other measures, it is likely to fall apart before people currently in their 30s and 40s become retired. So basically, the idea of how social security works is that you put away money and you will get that money when you retire.


Are teachers who receive state retirement ever able to collect Social Security My State says no. Do I have to move to one of the 14 States without state pensions I need more info?

It depends on several factors. First of all if your entire working career has been as a teacher in one of the 14 states whose teachers do not pay into social security, then the answer would be that you would receive no social security benefit because you never paid any money into it. Now, lets say you work as a teacher for 15 years in a state whose teachers DO pay into social security, such as Pennsylvania. You then decide to work for 15 years as a teacher in Ohio whose teachers do NOT pay into social security. Once you retire, you would indeed get social security due to the fact you worked 15 years in PA and paid into SS. HOWEVER, you would take a hit (called the Windfall Provision) because you are also collecting money from Ohio's pension.


What is the amount of money a person receives in social security based on?

is there a limit as to how much money a person on social security can accumulate


Can a social security card be used to withdraw money?

No, you cannot use a social security card to withdraw money. A social security card may be useful if you want to open a bank account, though, and you can withdraw money from that.


How much do you get monthly income on social security disability income?

How much money can I earn monthly while on Social Security disability Insurance


Can you use social security as a savings and pay more into it to maximize payment?

No. The social security tax for 2016 was 6.2 percent of your income and your employer had to contribute an additional 6.2 percent for a total of 12.4%. Their is no option to withhold more or less. To increase your contribution, you need to earn more money, work for a longer time before retiring, or delay collecting social security as each year you wait to collect social security the amount you can get increases.


You are currently self employed and make a monthly payment to the IRS for some back taxes Can you still retire and start collecting Social Security as long as you continue to make your back tax paymen?

The IRS seems to be happy as long as they get their money. Lots of people have retired and started collecting Social Security while paying back taxes. I have no idea how it works, but I know people who have done it.