Working While Receiving Social Security (The New 2024 Rules)

In this video, we're covering the new 2024 rules that apply if you want to work while collecting Social Security benefits. Then I'll answer some of the big questions like:
→ Does the Social Security Administration Look at Single or Joint Income?
→ What happens to benefits that are withheld if you go over the earnings limit?
→ How is the earnings limit actually applied?
→ When does the limit switch from an annual limit to a monthly limit?
→ Should you tell the Social Security Administration if you are over the limit?
→ Will the earnings limit affect spousal or children's benefits?
→ What actually counts as Earnings?
🔥🔥 Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just two pages! 🔥🔥
📹 See my video "What Income Counts Towards Social Security Earnings Limit? • What Income Counts Tow... "
📜 See my article "Social Security Income Limit: What Counts as Income?" www.socialsecurityintelligenc...
📍We can show you how to retire with confidence! 📍In our Big Picture Retirement Plan, we can help make your retirement savings last longer and reduce your taxes by coordinating your Social Security filing strategy, retirement account withdrawals, and Roth conversions. 📞Schedule your call and see if this plan is a fit for you. www.devincarroll.com/roadmap
🎤 If you're preparing for retirement or already enjoying it, you'll definitely want to catch my podcast, Big Picture Retirement. Your retirement's success hinges on seeing the "big picture" and tying together your legal, tax, and financial strategies. On the show, we dive deep to offer insights on effective planning, and I'm joined by my co-hosts - attorney John Ross and yours truly, financial planner Devin Carroll. www.bigpictureretirement.com/
➡️ Want to hire Devin and his team? -- www.carrolladvisory.com
Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement
Access the workshop today at this link
www.devincarroll.com/SSessent...
➡️ Get a copy of my best-selling book, Social Security Basics, here -- amzn.to/2twsABZ
➡️ Social Security Questions? Join my FREE Facebook Group! / 428684237572614
📜 HEAR YE HEAR YE: Some of my videos contain links to third party products, apps, and services. If you click through, I may receive a small referral fee to my media company (Carroll Media Properties) through their referral program. Rest assured, I only recommend products or services that I believe will be helpful and informative to my audience.
⭐⚠️⭐Please read this⭐⚠️⭐
⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal, and financial advisors. 🙇🙇🙇🙇🙇
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[@Bshiddy]

There shouldn't be any earnings limit. Everyone who has worked their whole life has earned SS. Shouldn't matter what you do after. retirement.

[@franreyes6158]

Absolutely 100% correct!!

[@jackdreddle2740]

Why would anyone collect SS while they are working???

[@Tommy.461]

I didn't "earn" my monthly pittance, I paid it in hoping they would save it for me.

[@DoctorSmartyPants]

Agreed. It's just an additional way of delaying your money.

[@aolvaar8792]

I worked 27 years, retired at 62

[@jtixtlan]

I am 63, working full time for $77,000 and hoping to retire near the end of 2024. Before watching this, I thought I could apply to receive monthly benefits as soon as I had less than $22,500 of salary left to earn from my employer in the year. Now I know that is wrong. I wanted to apply for social security a few months before I stop working so I am collecting both my salary and my social security. $77,250 / 12 = $6437. The earning limit would be $22,500 / 12 = $1875. That means I should not try to do this. I don’t believe in an earnings limit. Such BS, trying to force people to live poor or force us to stay in the full time work force long after the workforce wants us. The age discrimination is awful.

[@JJ-nh8lv]

It's our money. I've been paying SS tax for over 30 years. It's my money. Why is the government telling me what the hell I can do with my money!

[@yvonnechamper5807]

yes, and they call it a benefit !!! lol

[@user-fn8dy7kq1k]

What's the answer ? Can you keep learning money and your retirement of social security or not .Does it prolong your receiving your payment or shorting it.

[@mvp019]

It's the return of stolen goods in my mind.

[@ninalehman9054]

Technically, this is an insurance program, with the policy premiums paid by the people currently working TO the people who are retired. Most people will receive MORE than what they contributed.

[@mvp019]

@@ninalehman9054 If you neglect the time value of money, which you can't.

[@carolj.3175]

How dare they take anything if a person is able and willing to work especially since it's not much to begin with. If only this applied to politicians. 😊

[@m.jlopez8634]

Plus their Social Security is put into another account. Theirs is never touched either.

[@jackdreddle2740]

Why would anyone collect SS while they are working???

[@websterhays8352]

Why would anyone collect SS before they retire???

[@timkarcher6724]

@@websterhays8352For income when you only want to work part time

[@DoctorSmartyPants]

@@websterhays8352 So they don't lose money? Take a 72 year old still working. If they were not taking their SS, then they would have lost 2 years worth of money at the age 70 rate.

[@barttfisher]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my father through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.

[@HildaBennet]

For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.

[@beafoster747]

I agree. Based on personal experience working with a financįal manager, I currently have ($2million) in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.

[@PennyBergeron-os4ch]

Your manager must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

[@beafoster747]

I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.

[@PennyBergeron-os4ch]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@raymoreci3847]

The income limit is ridiculous, while working in retirement you're still paying into ss, why should there be any penalty? It's designed to keep us poor.

[@toddhanson5047]

It's designed so you don't take it until just before you die.

[@PHILLIPS8822]

There should be no limit as how much you make on any job . Total B/S you payed into it for years then collect it and you can't supplement your income unlimited.

[@edwardhenderson1478]

The way the world is today . Just social security isn’t enough to live on. You must have to keep working depending on what age group you’re in. Try living on about 500 dollars per month when everything around is going up?

[@michaelbrabant5326]

YOU CANT MAKE IT ON 22,320 , YOU WILL NEED A PART-TIME JOB

[@janasher4940]

Thank you for this. I am a CPA and thought I had all this info down, but your video answered every question I have been searching all over the internet to answer. How the income clawback by SSI gets added back to your benefits (it's added back in months, thereby reducing the time you took benefits before retirement age) is something most people are not aware of. So we are not penalized for filing early and keep working, it just gets added back to the pot. We don't lose those benefits really, it just increases our benefits later.

[@lettienugent]

I really appreciate your channel, and the clarity with which you speak. Both are very helpful.

[@americanredneck8686]

Thank you so much Mr. Carroll you are a BIG HELP !!!!!!!!!!!!!!!!!!! God bless !!!!!!!!!!!!!!!!!

[@debraanazonwu8387]

Thanks. This is so much more helpful than the people from Social Security!

[@frankboet1]

I called SS yesterday with some general questions and they told me to speak to a tax accountant. LOL

[@hersdera]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.

[@JJ-nh8lv]

Did you say million? Are you kidding me. Lol. Million!

[@Suleferdinand]

You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.

[@RaymondKeen.]

It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.

[@EddyAgnes-vy4kp]

Do you mind sharing info on the adviser who assisted you? I'm 40 now and would love to grow my stocks investment portfolio and plan my retirement..

[@RaymondKeen.]

My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@wa13601]

clear and easy to underdtand delivery of info Many Thanks!

[@captnawty7966]

Thanks Devin for your 2024 SSI Cheat Sheet. I can already see the value in it.

[@kathycarter1421]

Thank you for clearly explaining how it works.

[@michelesholar1756]

Thank you for all the info. You make all the complicated jargon easier to understand.

[@DevinCarroll]

Glad to hear that!

[@douglaswhite9777]

Great job Devon if you want a hell of a job, I watch your programs when I can. I’ve been very very busy lately, and I am in very busy.

[@russdavis1960]

Thanks again for the information.

[@jimwhite9483]

Just had this one pop up in my feed, most likely because I am a new subscriber. Great info. You touched briefly on self employment, which is where I am now. 40 plus years as an employee and am now SS eligible but the language used on the SS website was a bit confusing about benefits while being self employed. Any of your other videos simplify this?

[@randycollins6446]

He does great job explaining thank you

[@johnnie31000]

I just downloaded your cheat sheet thank you. This is very helpful. Thank you very much.

[@zarfer]

I was 67 when I retired BUT STARTED SS AT 62. There is a catchup 401k amount which can be contributed so that was held out of my pay. Therefore, my W2 showed my income as less than that required to withhold any SS..

[@sayitlikeitis1202]

Great video Devon !

[@donnaj.bonnel2789]

Thank you for your valuable information! I do truly appreciate you!

[@Dumbluck14]

You get screwed for daring to take a job so you can eat! And you are still paying into the system.

[@tomblevins5020]

Why would anyone work and collect SS? So stupid!

[@lemons2lemonade884]

Can you do a video that applies to SSI/Disability or point us in the right direction of who we can trust and listen to? Thanks

[@yazminmojica4458]

You are the best!!!!!!

[@WayShowers]

So happy to find your channel! Do you have any videos or information about social security and self-employment tax?

[@anniesshenanigans3815]

Thank you. I always post your videos to my FB group. Very useful!!

[@DevinCarroll]

Thanks for sharing!!

[@bobbreit5244]

I'm retiring in April at 1 month past my 64th birthday. I always learn something from your videos. I'll be in touch...

[@rosarionunez6954]

I’m also semi retiring at 64 and my first payment in April this year, I have a part time job, I’m hoping to save a good amount of my SS money into my savings, cause now I’m broke….😅

[@Kenneth-nx4uv]

Thanks Devin. 😊

[@MsGeelan]

Excellent information

[@carsandconcerts]

Great info!

[@troymcgrew9822]

Take my money and then put up barriers on how I get it back.

[@frankornelaz8234]

Thanks for sharing

[@brayaddisonjr.8400]

I get an federal civil service retirement annuity with social security supplement (because I was forced to retire at 57 before I reached retirement age 62). When SSA finds out that I have gone over the earning limit, do they just take if from the SSS amount ($1 for every $2 I'm over) from from the SSS or do they take it from the annuity as well?

[@tomy5868]

does a pension count towards income count to earnings limit? answered later in the video...thanks.

[@Roseh818]

Need assistance everything so expensive so so hard need to now more of work programs ! Thank u for posting

[@katmandu49]

Thank you for your Cheat Sheet. What do you think of the proposed new Bill -- You Earned It, You Keep It? What's the chance of it passing?

[@robinjackson1157]

Does survivor's benefit affect the amount of full retirement income once they retire?

[@angelapriddy6308]

Thank you

[@AMConcepcion]

how and when do you notify social security that you're going to exceed the income limit? Say it's 6months in and I'm over the income limit by a few thousand. Should I let them know then? (and how?) or should I wait till Jan? Or until I file my taxes in April?

[@Courthouseexecutive]

Does earnings include monies recd from estate earnings and or earnings from winning a law suit?

[@thAvenueCollective]

I read somewhere that sometimes the SSA makes mistakes calculating what you are due. How can a person figure out if they are getting as much a monthly benefit as they deserve?

[@m.mickeypayne9811]

A few years ago, I realized social security was helping themselves to a part of my social security check. Instead of paying my 1068.46 , they started paying just $ 1068. For most people, not a big deal. .for me on disability that .68 cents is 2 breakfast servings of food. 😢

[@margaritagomez3490]

@@m.mickeypayne9811 yep. That .46 is $552 a year!

[@user-ng2hz5lz2x]

I reported estimated earnings so I want get anything until mid year. I rather do that then to be overpaid, and find out when I'm on 'fixed-income '.😊

[@beverlyweber4122]

Seems that by the time I retire in 2029 (early retirement), the limit should be roughly 26K or so, maybe 27K annually. Fair enough~

[@rlynnpierce2166]

Please provide a real life example using math. In the first scenario, retired at 63, still working making $45,000 yearly, for every $2.00 over limit, $1.00 is withheld. This is what I would really like to see. Do get anything from SS, or is everything withheld until you stop working?

[@MegaFisherman16]

Hi Devon, I am a 58 year old guy that has gone through some major medical issues. I'm a diabetic and a kidney transplant recipient. Company just closed and on unemployment since July. I have have lost my MOJO for working. Just being honest but wife wants me to keep working. Looking for some advice. Thanks in advance.

[@jeanettecrabb1713]

I started collecting survivor benefits in July but social security counted my wages for the whole year which put me over by $2400. They are now making me pay back dollar for dollar. Shouldnt i have only had to pay for what i earned after july?

[@davidcastelli7893]

Hi Devin. Your the best, so I am asking you this question as I cant get a straight answer.. Have W-2 where I include the S Corp greater than 2% shareholder medical in Box 1 of W-2. But it does not go in Box 3 and not Box 5. So for the social security earnings limitation does the SS Admin use the lower of Box 3 & 5 or the higher of Box 1? I always thought they use 3 or 5 but do they do that when Box 3 and 5 are lower??? PLease help, will pay for a consulation answer. thank you

[@veger5872]

The limit should be $2,500 before they start taking money out--everyone needs to rain down on your House and Senate Reps to make this happen. As they say "SS was meant as a supplement," not to live on!!!

[@MLPflegl]

Question If I worked as a teacher till end of school year then decide retire at 62 in September..how does the $$ I earned affect my benefit and, should I wait to apply for SS

[@davebaker3241]

My spouse is 5 years younger. If she files at 62 under her own earnings record, can she collect 100% of the survivor benefit when I pass?

[@donnamitchell7857]

Thanks for explaining in an easy to follow manner. On to my questions. I’m a CSRS retiree receiving my pension (we did not pay into Social Security). I went back to school, became a massage therapist, & got my 40 quarters. My SS is penalized because of WEP (Windfall Elimination P…?) by 2/3s because of my Federal pension. I’m 70 & am past my FRA. I’ve gone back to P/T work with Visiting Angels. I’m paying into SS almost as much as I get in benefits after the Medicare premium is paid. My 1st question is since I’m drawing SS, will this additional money be counted toward future benefits? My 2nd one is since I’m drawing SS, why do I have to pay more money into SS on my new job?

[@trainstation56]

Thanks!

[@DevinCarroll]

Thanks!!!!!!

[@artisboyd807]

You are right people in the congress and senate are able to get paid by us and make deals on the side.We should be able to work and continue putting in to the system. They are not thinking about how much stuff cost.

[@user-th1dw3jd2n]

Thank you Devin great info. My question is if do Roth conversions while collecting s.s. Does this count towards the earned income means test ? or do I only have to pay taxes and not lose any s.s. Income

[@DevinCarroll]

The distributions from an IRA do not count as earned income. No impact to the "income" that is countable for the earnings test.

[@barrykelly2722]

When considering the 22320 or the 59520, is that based on gross or net earnings?

[@dankayser7974]

What line on IRS Form 1040 is used to calculate the income limit?

[@jtixtlan]

My biggest question! I am 63. In November 2023, I got a new job at a $12K increase in pay. I have my 40 quarters that qualify me to collect retirement, and I want to retire in July 2024. Does my new gross pay rate and addition money I am paying into social security change my benefit calculation, or does it only recalculate every year? The calculator on the website is only based on my income through Dec. 31 2023. I made more in the first quarter of 2024 than any other quarter of my life, and I will do the same in Q2. I want this in the calculation, but I really don’t want to wait until January 2025 to retire.

[@steven6134]

I’m getting survivor benefits from my father who passed away. Can someone help point me in the right direction on what the rules are? I’m 100 percent disabled. Thanks!

[@smokezilla3975]

i wanted to ask if your book the heros penalty is based on true facts of the rules it dont say on the cover but from what other readers say everthing thay read in this book is on the web or on the ssi website

[@kendrickle5297]

Is putting the amount of income that's over the limit into 401k helps avoiding my SS benefits withheld? I am 62 and working PT with $3,600 monthly, and I will be collecting SS in June. By putting %50 of my earnings into 401k would help me to become under the income limit? Thx.

[@M-tk8xy]

I'm 69. I work full time and get SS. My total income combined was $49,000. The feds want $810 because no taxes were taken out of the Social Security. Why am I being taxed if retirement age is 66?

[@MuzixMaker]

If you’re 96 you might still pay tax on income.

[@mikehocking4836]

Because your not a foreigner

[@richardocain8299]

Just need to know on earned income while taking SS is it the net amount or gross of the number 22,320.00 ??

[@terriferreira1385]

I was just told by SS office that if I collect at 65, continue working to 67 (FRA), there is no reset, or increase of benifit at 67 FRA. What gives ?

[@Neal_only1]

Increases to annual/monthly limits look minimal

[@douglashite4410]

For those of us receiving SS before our FRA is there any way to reduce our Gross income? There has to be a way around it. Like maybe a Health savings account or a IRA something?

[@bluecollarmark]

🤷🏻‍♂️🤷🏻‍♂️🤷🏻‍♂️Devon, if I apply for my SS benefit In November, then in January go to work for 6 months and earn $21,000, then stop working for the remainder of the year, does the monthly limit affect me? Devon thank you. 🤷🏻‍♂️🤷🏻‍♂️🤷🏻‍♂️

[@Spaceflightlover2010]

Thank you so much for posting this, its priceless information, but I have one question. When they say, "income limit", is that income in ADDITION to your social security or is social security income included in your income limit? I know this sounds like a stupid question, but its a bit confusing.

[@DesignedAlliance]

This is my question also!

[@veger5872]

Don't give them any ideas! The answer to your question is your SS check is not included in the limit! In my book, the limit should be $2,500/month before they even think about deducting your SS check.

[@michaelramseybooks9684]

Thanks Devin. Something that's not clear is term "highly skilled" when it comes to working while on Social Security. It's a nebulous term that could mean anything you want-or don't want, it to mean. The precedence is a 1950's lawsuit that seems a little out of date... I'm a software developer, and I'd like to do some work during my retirement. What I do pays well, but not a huge amount. Does it matter how many hours I work, as long as I stay below the $1860 /mo cap? Maybe you could make a new video and explain this for us...

[@user-lq2zc6ti2x]

Can you explain survival's benefits

[@pequodexpress]

Can property taxes be deducted from earned wages as a way not to exceed the earnings threshold of $23,320?

[@iosor7524]

If you collect full age and wok what is the increase in your benefits?

[@joycepetty2264]

Will survivor benefits change?

[@yokoavramov5475]

Is it the adjusted gross income? Or just the gross income that counts?

[@user-fm5vb5si4j]

I needed to start taking my monthly social security benefits in 2020 at age 64. At that time along with my social security I started working part time. In April of this year (2023) I reached my full retirement age. Currently I am planning on continuing to work my part time job at least throuh the end of 2024. I know because I started taken my benefits before reaching my full retirement age, my benefits were reduced. But now that I am at full retirement age and still working and paying into S.S. My question is will I be able to get any additional benefits or credits for the money I am paying into S.S. now?

[@nurse2959]

nope

[@Satjr35031]

If any of your years surpass any of your highest 35 They will do a recalculation the following September.Any increase will be a small amount

[@Gottigirl]

I have a question, I have a disability hearing coming up for SSI, and I am legally married, but we do not reside together and we do not file taxes together. In fact, I am on snap benefits, and my husband legally does not give me money for anything. he has a very good job with the state and a very good pension. I only own a car paid off worth around $2000. I don’t have any other assets I live with my family but well the fact that I am legally married to somebody who makes almost $100,000 a year, even though we have not legally gotten divorced affect my chances of being approved? We haven’t lived together in eight years and we don’t file taxes together. My caseworker can’t seem to answer me and I’m very scared. Thank you for any info or help.

[@sticksbass]

so after they recoup the penalty you earned over the original ss amount continues?

[@BadSneakers]

Oh I thought the earnings limit would increase by 3.2% as well. But just by $100? Good to know!

[@Doyle-nu5el]

HE SAID 22320 WHICH WOULD BE 1100 MORE.

[@BadSneakers]

@@Doyle-nu5el oh brain f$rt- thx!!

[@Thatsswell-hr9ev]

Hi Devin! My question is about working and applying for Social Security Surviving Spouse benefits. I will be turning 60 next August. I have been a widow since 2017 and my late husband was collecting Social Security starting at age 62. Recently I visited my local Social Security office to ask questions about Social Security Surviving spouse benefits. I know the annual working income limit for 2024 is $22,320 and it is $1,860 monthly. I know that it is $1 withheld for every $2 over that limit. I told him I earned close to $50,000 this year of 2023. When I do the Math I will get a little bit each month. Not much though. I was told not to apply because my income is too high. He suggested that I start working part time and in the future I can apply for benefits with a lower working income.. Nowhere on the SSA website did I read that there is an absolute maximum income limit before you should not bother to even apply for benefits. He wouldn't do any calculations to see if I am eligible for anything. Was I given the correct information? Thanks.

[@wereone142]

Yes, you were. If you apply at 60 for survivor benefits while you make over $50,000 or even a very low amount annually then your Social Security benefits will stay super low FOREVER. Do a lot of research on your own and watch as many relevant KZbin videos as possible.

[@Thatsswell-hr9ev]

@@wereone142 Not if I switch to my own Social Security benefits and cancel the survivor benefits.

[@ceciliaornelas]

Then why are you bothering to ask a question?@@Thatsswell-hr9ev

[@davedel8987]

Great info. Thanks. Question - does rental income count as income?

[@tonyf.8858]

I rent out a house and, in my state, (WA) I have to count that as income.

[@jackdreddle2740]

Why would anyone collect SS while they are working???

[@DoctorSmartyPants]

Rental income is income. However, this video is about the SS earnings limit. Earnings are defined as wages or earnings from self employment. The SS earnings limit is not at all the same as IRS income.

[@chaser1956]

Still somewhat confused. I retired at 65 in March 2021. I am now 67; so If I decide to get a part-time job, all of that income, no matter the total wage amount, will not affect my monthly SS checks?

[@Satjr35031]

Correct

[@RoadieWingZZ]

Correct. Once you reach full retirement age (FRA) there’s no penalty and no limit to your earnings.

[@nurse2959]

except paying taxes on it@@RoadieWingZZ

[@icanonlyimagine7626]

What if you have six months before you turn 67 when they consider it full retirement age? Is it actually full retirement age or not until birthday?

[@KimsaLittleofAlot]

Does earning money from being monetized count as earned income?

[@khietphan7078]

I got social security benefit at 62 and still working 8 years from now but my benefit doesn’t increase !😢

[@ritaharringtonkent270]

How do I find the cheat sheet referenced?

[@RandyCessna-dh1us]

Do you have one about:"what if i return to work after I retire? "

[@user-mt2tf6uu8u]

stopped. Am 63, I made over the limit, and my social security was stopped. Will it start up again in January?

[@marywells1197]

i know when i filled out the s.s. form for retirement they asked about wages and tips and if i were self employed, so my understanding is a 401k or an ira account is not counted as earned income

[@jackdreddle2740]

Why would anyone collect SS while they are working???

[@Satjr35031]

Correct they are not Earned income like W2

[@Newlinjim]

The IRS defines money in 401k/pension/IRA as ‘historical income’ and is not subject to the same rules as earned income.

[@endlessroads9936]

Ok, this still not clear, ok a year is $22320, dose social security, look at the year are by the month, say one month i make 2200, but next month only 1300, do they take money out far that one month are look at the whole year

[@hollyjennings7755]

Can you ask social security to stop monthly payments if u r working and earned over limit...then resume them on later date after job ended?

[@J.D.Vision]

I think they would rather take the disability checks away since you've gone over the $1,050 a month.

[@kathyfann]

This is absolutely crazy we all put into it it’s an insurance it is not welfare it’s an insurance and we’re all entitled to get our part of the insurance and if somebody babysits a little or watches the neighbors dog and gets paid 20 or $50 for it who cares I just can buy a little more groceries maybe some fresh fruits and vegetables come on this is ridiculous. That’s our money. The government certainly spend it with impunity. We should at least get what we need to buy her food with.

[@synthgroovesongs]

I exceeded the 2023 yearly earnings limit by $80. Can anyone tell me what to expect and about when to expect it? Thanks!

[@mindalick8867]

WHAT WAS THE SOC SEC EARNINGS LIMIT FOR A 67 YEAR OLD SINGLE IN 2020? K-1 CORP 1120S EARNINGS/LOSS?

[@DorothyLaplant]

What if you sell your house do you have to report that too

[@keith8325]

Due to the lag between filing and receiving benefits, does the income limits apply to the date earned, or paid? Hope you understand the question Mr Devin and thanks for your educational support.

[@leonardcole7139]

I have the same question.

[@betsybarnicle8016]

I called the SS office before I filed, and the rep. warned me that the earnings limit starts the month you officially start SS (not when you first get a SS check).

[@LH-mr2lk]

So if your birthday is on the 6th, do you apply on the 6th of the month of full retirement?

[@garyo8546]

is it 1 dollar for every 2 dollars earned past the 22,030 amount I'm self employed and file taxes every year at the end of the year... so if i had an income of 42,030 which would be 20 ,000 over i would owe them 10,000 ???

[@margaritagomez3490]

If your collecting ss and still working. Invest the ss money if you don’t need it …