This is about social security for people over 65?

Question

I want to know if a man is collecting social security when he is 65,and gets a full or part time job,will he be able to keep the money from that job without it being deducted from his social security check?

Answer 1

That's a tough one. You'd have to check with social security, but I believe they allow you to make up to $900 per month (last I knew) without if affecting your check.

Answer 2

As long as a person reaches the full retirement age (and that depends on their year of birth), nothing is deducted from social security for continuing to work. HOWEVER, depending on income, portions of social security may become taxable. It depends on the amount of work income and the amount of social security benefits being received.

The answer is that it is never detrimental from a financial perspective to continue to work after the full retirement age. Even though some benefits might become taxable, the additional income more than offsets this by a wide margin.

Answer 3

As you'll see at www.ssa.gov it depends. If he retired on disablity before age 62, he may not be permitted to work. If he retired at age 62, and before his full retirement age, his monthly earnings limit is around $900 or 1,000. If he's working overseas during that same time period, it doesn't matter how much he earns, but if he works more than 44 or 45 hours per month, his benefit is zero.

My sisters already collect SS for old age retirement, without disability. They work part time to keep the monthly gross earnings below $1,000. If they worked over that, the additional earnings would reduce their SS check 50 cents per dollar over that limit.

Obviously, some answers you're getting are wrong.

Answer 4

I have never seen so many wrong answers!!! First, it ain't 65 anymore...more like 65 and 10 months, for full retirement. No, repeat No limit on earnings after that point. Some people retire at 62. They do have an earnings limit of about $13,000 per year.

Answer 5

Tried to find the specifics on it for you but couldn't pin point it though. Best you call IRS for the info you need.
Being retired myself, I do know that you can make eanings up to a certain amount. Use to be $32,000 single and $36,000 married, but I think that has been changed. I do know that you have to add part of your SS to your taxable amount of earnings if you go over the amount they specify. You have to complete the 1040 and it's listed in the instructions and gives you a Worksheet Sheet to fill out to see if you have to pay a certain amount or not.
Sorry I can't help you any more then that but do give IRS a call and they'll explain it for you.

Answer 6

What most seniors do is work part time but get paid in cash. You see for every dollar you make extra,Social Security takes two out of your check.( As a kind of penalty).

Answer 7

you are allowed to make a certain amount of money without losing your social security benefits. I think you can make around $12,000 a year without losing your benefits. But the best thing you can do is to contact your local security office to get an official report to be sure you don't lose anything.

Answer 8

The last time I read the Soc. Sec. earnings rule, a person over 65 could earn up to $30,000 a year without losing any of his/her Soc. Sec. benefits. For the latest on this, simply call local office--they are in the phone book.

Answer 9

If he is in the group of people who qua;ify for 'full retirement' (used to be age 65, now it is a graduated age depending on your year of birth ),there is no earnings limit. Example: me. I continued to work after 65 (my personal full retirement age ) and received my full ss benefits...and I was earning well over 60K from my employer.

Answer 10

There is a limit on earnings before the SS check gets cut.