How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask LawTalk Your Own Question
LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35390
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
15277592
Type Your Social Security Question Here...
LawTalk is online now
A new question is answered every 9 seconds

If i retire at 62 how much money am i allowed to earn without

Customer Question

if i retire at 62 how much money am i allowed to earn without having my benefits affected
Submitted: 7 months ago.
Category: Social Security
Expert:  LawTalk replied 7 months ago.
Good morning Peter,I'm Doug, and my goal is to provide you with excellent service today. If you take your social security retirement benefit at age 62, and that occurs this year, then you are allowed to earn no more than $15,720 this year before your benefit starts to be effected. If you are under full retirement age for the entire year, social security will deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2016, that limit is $15,720. In the year you reach full retirement age, social security will deduct $1 in benefits for every $3 you earn above a different limit. In 2016, the limit on your earnings is $41,880 but they only count earnings before the month you reach your full retirement age. You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.I wish you and yours the best in 2016,Doug
Expert:  LawTalk replied 7 months ago.
Good afternoon,Do you have any additional questions that you would like me to address for you?In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?Thanks in advance,Doug