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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Social Security
Satisfied Customers: 41221
Experience:  Licensed in multiple jurisdictions, experienced business attorney.
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if a 62 year old male collecting social security has a part

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if a 62 year old male collecting social security has a part time job and earns more than 15200, how does this affect his benefits?

Dimitry K., Esq. :

Thank you for your question. Please permit me to assist you with your concerns.

Dimitry K., Esq. :

For any two dollars that this person goes above the federally mandated limit, he would lose one dollar in benefits.

Dimitry K., Esq. :

For 2013 the limit is $15,120, so for any money above that threshold, the other party would have to return any over-payment back to the SSA.

Customer:

you that effect the benefits of dependents?

Dimitry K., Esq. :

No, it would only affect personal benefits

Dimitry K., Esq. :

if a spouse, for example, is receiving benefits against the benefit herself, her benefit would not be lowered

Customer:

no, the benefits are for my daughter. I have the opportunity to earn about 45,000. would it make financial sense to earn that amount of money and pay the back social security?

Dimitry K., Esq. :

In that situation you wouldn't have a benefit at all

Dimitry K., Esq. :

all the money you would receive would be taken back by the state

Dimitry K., Esq. :

In that case it would make far more sense to hold off on benefits, allow the benefits to accrue and grow more, and elect to take them later.

Dimitry K., Esq. :

Once you choose to take on SSA benefits, they stop growing. Here, anything you'd get you'd likely lose out on--it would make no financial sense to formally 'retire'

Dimitry K., Esq. :

Does that make sense?

Customer:

ok thank you for your help.

Dimitry K., Esq. :

You are most welcome--glad to do it. Is there anything else I can help answer for you?

Customer:

no my question was on ss benefits.

Dimitry K., Esq. and other Social Security Specialists are ready to help you