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PDtax
PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4298
Experience:  35 years tax and professional advice in all matters money
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At what age can I collect Social Security and not be

Customer Question

at what age can I collect Social Security and not be penalized for earnings?
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I am 64 years old and have 2 children under the age of 18. and I was told that I can collect social security and collect for them. I work full time. Will i be penalized for earnings?
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: no
Submitted: 5 months ago.
Category: Social Security
Expert:  PDtax replied 5 months ago.

Hi from just answer. I'mCustomer I'll assist.

Expert:  PDtax replied 5 months ago.

You are penalized by social security if you work and earn more than 15,720 in 2016. You are penalized until you reach full retirement age (FRA).

Customer: replied 5 months ago.
how much will I be penalized?
Expert:  PDtax replied 5 months ago.

$1 for every $3 you earn over the social security allowed wage level, $15,720 for 2016. This penalty is not charged against the children's benefit. And, the penalty is returned to you once your reach FRA in the form of higher monthly benefits.

Thanks for asking at just answer. Positive feedback is appreciated. I'mCustomer