Get ready to demand social security? These 2 rules can catch you by surprise | Smart Change: Personal Finance
Get ready to demand social security?  These 2 rules can catch you by surprise |  Smart Change: Personal Finance

Get ready to demand social security? These 2 rules can catch you by surprise | Smart Change: Personal Finance

Right now, you can earn up to $ 19,560 a year, or $ 1,630 a month, without having to deduct money from your social security payments. However, once you exceed this limit, you will have $ 1 in benefits withheld for every $ 2 in earnings.

Meanwhile, the earnings test limit is much higher for workers reaching FRA this year. In that case, you can earn up to $ 51,960 a year or $ 4,330 a month without affecting your Social Security income. From there, you will have $ 1 in benefits withheld for every $ 3 you earn.

It is important to know that withheld services are not permanently forfeited. When you reach OFF, SSA will recalculate your monthly benefit and ensure that you get the money withheld for exceeding the earnings test limit.

But remember, requirements for social security before reaching FROM always provides a reduced benefit, whether you work or not. So before you take that hit, you might want to reconsider whether you want to lose a large portion of your benefits by making too much money.

2. You can not claim a spouse benefit if you are married until your spouse files a lawsuit

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