2007-03-18 15:15:57 · 5 answers · asked by Miles' Nana 1 in Business & Finance ➔ Personal Finance
I assume what you want t to know is whether unearned income after you reach 62 could reduce your benefits. - The answers is no - It will not reduce your benefits, no matter how much unearned income you have.
2007-03-21 19:50:51 · answer #1 · answered by Franklin 5 · 0⤊ 0⤋
The 40 pts. is right...that means you have to have some "Earned income" ; forty points worth. and At 62 years you will get a reduced benefit. You get more per month if you wait till 65 years.
If you don't have the pts. I am not sure what happens...maybe you don't get any retirement? You should have asked these questions when you were 50.
I have an Uncle that always worked under the table, jumped at any get rich quick scheme...was "to smart" to go the traditional route...he lives in senior housing project.
2007-03-18 22:35:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Depends on what year you was born in if you can retire at age 62.
Unearned income has nothing to do with retiring.
2007-03-18 22:26:44 · answer #3 · answered by Jeff 3 · 0⤊ 0⤋
At 62 years of age you can start collecting your SS if you have acquired the 40 pts. necessary to be eligible. It does not matter if you had some earnings that were unearned- they will not count those in your 40pt need.- they will only count your earned incomes.
2007-03-18 22:21:48 · answer #4 · answered by Brick 5 · 0⤊ 0⤋
What? So what were you doing for the last 40-odd yrs dude, you should be more candid
2007-03-18 22:19:59 · answer #5 · answered by mellie 3 · 0⤊ 0⤋