Hello I just turned 64 and am looking at starting Social Security now while working due to some high medical bills.
I currently make about 31k a year and was under the impression that anything over the $15,xxx amount would be given up at a 2 to 1 dollar amount. To use round figures me making 30k would be about 15k over so i would lose half of that being $7500 given up. My payment from SS now is $2100 a month so it would go to about $1500 while i am still working.
I thought to call before i filed online to start collecting and explained this to the lady and she said to me that no, i would not get any SS payments for the first full year if i continued to work and make my 31k per year.
She said something about a 1 year grace period but from what i am reading i still only show that i would be penalized as i explained above.
Just looking for some info from someone who knows more about this than me. The lady i spoke to may be correct but didn't see very confident in her answer and just want to make sure.
Thanks for the help!
I currently make about 31k a year and was under the impression that anything over the $15,xxx amount would be given up at a 2 to 1 dollar amount. To use round figures me making 30k would be about 15k over so i would lose half of that being $7500 given up. My payment from SS now is $2100 a month so it would go to about $1500 while i am still working.
I thought to call before i filed online to start collecting and explained this to the lady and she said to me that no, i would not get any SS payments for the first full year if i continued to work and make my 31k per year.
She said something about a 1 year grace period but from what i am reading i still only show that i would be penalized as i explained above.
Just looking for some info from someone who knows more about this than me. The lady i spoke to may be correct but didn't see very confident in her answer and just want to make sure.
Thanks for the help!
Social Security Issues: Right
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