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TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 15042
Experience:  15+ years in tax preparation and instruction
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Once you start collecting social security, does any future

Customer Question

Once you start collecting social security, does any future investment income affect your social security payments
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: My mother (88yo) complains to me her social security payment went down. I told her she would loose some because madicare premieums went up. Are there any other reasons her beneifets would go down?
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: no
Submitted: 7 months ago.
Category: Social Security
Expert:  TaxRobin replied 7 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  TaxRobin replied 7 months ago.

When a person is collecting benefits based on earned income then investment income would not reduce the benefits. Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes.

Factors that may, or may not, affect your retirement benefits include getting benefits while still working and not being at full retirement age. This does not appear to be relevant for your mother's situation.

You are correct, medicare premiums went up and that is most likely what has reduced her monthly amount unfortunately.

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