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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13549
Experience:  22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.
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Upon collecting social security can i continue to work full

Customer Question

upon collecting social security can i continue to work full time
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.

What kind of social security would you be collecting?

How old are you?

Customer: replied 1 year ago.
Customer: replied 1 year ago.
65 on nov 5 2015
Expert:  Stephanie O Joy, Esq replied 1 year ago.
You are not yet of full retirement age (until 66+). As such, while it is your choice to work FT, you are subject to an 'earnings test' to ensure you really are retired. In 2015, that means not earning more than $15720 from work. If you earn more than that, you will not be eligible for $1 in SSR for every $2 you earn OVER that $15720. You will have to pay it back. However, note that paying it back means you are mitigating the the fact that you had chosen, by taking SSR early, to cut your SS benefit forever, by an amount commensurate with how many extra months you collected before real retirement age. And as such, your future rate will be higher than that which you were getting by taking early. You basically "reverse" the prior act of taking that month 'early'.
There is a strong camp of thought that if you are able to work and support yourself, you can often maximize your own benefit for later taking by delaying collecting until age 70. This provides a 32% raise beyond the amount you'd have if you took even at full retirement age (66+), and is 80% bigger than that if taken at 62.
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